Tejon Ranch (NYSE:TRC) Issues Quarterly Earnings Results

Tejon Ranch (NYSE:TRC) released its quarterly earnings data on Thursday. The real estate development and agribusiness company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05, Zacks reports. Tejon Ranch had a negative return on equity of 0.11% and a negative net margin of 1.17%.The company had revenue of $11.97 million for the quarter, compared to analyst estimates of $9.53 million.

Tejon Ranch Price Performance

NYSE TRC traded down $0.23 during trading hours on Thursday, reaching $15.74. 87,686 shares of the company’s stock were exchanged, compared to its average volume of 111,594. The stock has a market cap of $423.31 million, a PE ratio of -1,574.00 and a beta of 0.63. Tejon Ranch has a one year low of $14.70 and a one year high of $19.39. The firm has a fifty day moving average of $16.15 and a 200-day moving average of $16.86. The company has a current ratio of 2.24, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17.

Institutional Investors Weigh In On Tejon Ranch

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew 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 worth $37,000 after acquiring an additional 823 shares during the last quarter. Strs Ohio bought a new stake in Tejon Ranch during the 1st quarter worth approximately $65,000. Raymond James Financial Inc. bought a new stake in Tejon Ranch during the 2nd quarter worth approximately $122,000. Bank of America Corp DE grew 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 worth $312,000 after acquiring an additional 2,116 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Tejon Ranch by 3.1% in 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 buying an additional 1,018 shares during the last quarter. 60.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Tejon Ranch in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Tejon Ranch has a consensus rating of “Sell”.

About Tejon Ranch

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.