Tejon Ranch (NYSE:TRC) Announces Earnings Results, Beats Estimates By $0.05 EPS

Tejon Ranch (NYSE:TRC) posted its quarterly earnings results on Thursday. The real estate development and agribusiness company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05, Zacks reports. The business had revenue of $11.97 million during the quarter, compared to the consensus estimate of $9.53 million. Tejon Ranch had a negative return on equity of 0.11% and a negative net margin of 1.17%.

Tejon Ranch Stock Performance

Shares of NYSE TRC traded down $0.23 during midday trading on Thursday, hitting $15.74. The company’s stock had a trading volume of 87,686 shares, compared to its average volume of 111,594. Tejon Ranch has a 1-year low of $14.70 and a 1-year high of $19.39. The firm’s fifty day moving average price is $16.15 and its 200-day moving average price is $16.86. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.66 and a current ratio of 2.24. The firm has a market cap of $423.31 million, a P/E ratio of -1,574.00 and a beta of 0.63.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Tejon Ranch in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Tejon Ranch

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its position in Tejon Ranch by 59.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,200 shares of the real estate development and agribusiness company’s stock valued at $37,000 after purchasing an additional 823 shares during the period. Rhumbline Advisers boosted its position in Tejon Ranch by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 33,448 shares of the real estate development and agribusiness company’s stock valued at $567,000 after purchasing an additional 1,018 shares during the period. Bank of America Corp DE boosted its position in Tejon Ranch by 13.0% during the 2nd quarter. Bank of America Corp DE now owns 18,425 shares of the real estate development and agribusiness company’s stock valued at $312,000 after purchasing an additional 2,116 shares during the period. Strs Ohio acquired a new position in shares of Tejon Ranch during the first quarter valued at $65,000. Finally, American Century Companies Inc. boosted its holdings in shares of Tejon Ranch by 10.6% during the second quarter. American Century Companies Inc. now owns 52,988 shares of the real estate development and agribusiness company’s stock valued at $899,000 after acquiring an additional 5,064 shares during the period. 60.63% of the stock is currently owned by institutional investors and hedge funds.

Tejon Ranch Company Profile

Tejon Ranch Co, together with its subsidiaries, operates as a diversified real estate development and agribusiness company. It operates through five segments: Commercial/Industrial Real Estate Development, Resort/Residential Real Estate Development, Mineral Resources, Farming, and Ranch Operations. The Commercial/Industrial Real Estate Development segment engages in the planning and permitting of land for development; construction of infrastructure projects, pre-leased buildings, and buildings to be leased or sold; and sale of land to third parties for their own development.