Tejon Ranch (NYSE:TRC) Issues Quarterly Earnings Results

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. 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 during the quarter, compared to analysts’ expectations of $9.53 million.

Tejon Ranch Trading Up 1.9%

TRC stock traded up $0.30 during midday trading on Friday, hitting $16.04. The stock had a trading volume of 102,545 shares, compared to its average volume of 111,551. Tejon Ranch has a 1-year low of $14.70 and a 1-year high of $19.39. The company has a current ratio of 2.24, a quick ratio of 1.66 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average price of $16.12 and a two-hundred day moving average price of $16.86. The firm has a market cap of $431.49 million, a P/E ratio of -1,604.40 and a beta of 0.63.

Wall Street Analysts Forecast Growth

TRC has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Tejon Ranch from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed 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, the stock currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Tejon Ranch

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Tejon Ranch in the second quarter valued at $122,000. Vanguard Group Inc. lifted its holdings in Tejon Ranch by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,138,314 shares of the real estate development and agribusiness company’s stock worth $34,170,000 after purchasing an additional 14,767 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Tejon Ranch by 99.1% in the 2nd quarter. Quantinno Capital Management LP now owns 56,013 shares of the real estate development and agribusiness company’s stock worth $950,000 after purchasing an additional 27,881 shares during the period. Jane Street Group LLC grew its holdings in Tejon Ranch by 129.4% during the 1st quarter. Jane Street Group LLC now owns 58,095 shares of the real estate development and agribusiness company’s stock valued at $921,000 after buying an additional 32,768 shares in the last quarter. Finally, American Century Companies Inc. increased its position 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 buying an additional 5,064 shares during the period. Institutional investors own 60.63% of the company’s stock.

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.