Tejon Ranch (NYSE:TRC) Issues Earnings Results
by Mitch Edgeman · The Markets DailyTejon Ranch (NYSE:TRC – Get Free Report) issued its quarterly earnings data on Thursday. The real estate development and agribusiness company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01, reports. Tejon Ranch had a return on equity of 0.61% and a net margin of 6.41%.The business had revenue of $21.11 million during the quarter, compared to analyst estimates of $13.94 million.
Tejon Ranch Stock Up 2.0%
TRC traded up $0.37 during trading on Thursday, hitting $18.62. The company had a trading volume of 48,369 shares, compared to its average volume of 107,068. The firm’s 50-day moving average price is $17.07 and its 200 day moving average price is $16.42. Tejon Ranch has a one year low of $15.04 and a one year high of $19.61. The company has a market capitalization of $500.69 million, a PE ratio of 155.17 and a beta of 0.65. The company has a quick ratio of 2.06, a current ratio of 2.66 and a debt-to-equity ratio of 0.19.
Institutional Investors Weigh In On Tejon Ranch
Several large investors have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its position in Tejon Ranch by 13.7% during the 4th quarter. Wells Fargo & Company MN now owns 24,537 shares of the real estate development and agribusiness company’s stock worth $387,000 after purchasing an additional 2,960 shares in the last quarter. Deutsche Bank AG grew its position in shares of Tejon Ranch by 36.7% in the 4th quarter. Deutsche Bank AG now owns 14,110 shares of the real estate development and agribusiness company’s stock valued at $223,000 after buying an additional 3,786 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Tejon Ranch during the 3rd quarter valued at approximately $275,000. Alliancebernstein L.P. raised its stake in Tejon Ranch by 6.1% during the third quarter. Alliancebernstein L.P. now owns 21,022 shares of the real estate development and agribusiness company’s stock worth $336,000 after buying an additional 1,200 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Tejon Ranch by 515.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 13,530 shares of the real estate development and agribusiness company’s stock worth $216,000 after acquiring an additional 11,330 shares in the last quarter. Institutional investors and hedge funds own 60.63% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded shares of Tejon Ranch from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Tejon Ranch currently has a consensus rating of “Hold”.
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About Tejon Ranch
Tejon Ranch Corporation (NYSE: TRC) is one of California’s largest private landowners, with a diversified portfolio spanning agriculture, real estate development and natural resource operations. Headquartered in Lebec, California, the company’s holdings encompass approximately 270,000 acres in Kern and Los Angeles counties. Established in 1937 on the historic Rancho Tejon land grant, Tejon Ranch has leveraged its strategic location along Interstate 5 to build a multifaceted enterprise serving both local and regional markets.
In agriculture, Tejon Ranch grows a variety of row crops and permanent plantings, including almonds, pistachios, table grapes and citrus.