Tejon Ranch (NYSE:TRC) Announces Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Key Points

• Tejon Ranch reported a quarterly EPS of ($0.06), missing the consensus estimate of ($0.02), despite generating revenue of $8.31 million, which exceeded analyst estimates.
• Following the earnings release, Tejon Ranch's stock rose 0.2% to $17.04, with a market cap of approximately $458 million and a price-to-earnings ratio of -1,704.00.
• Insider trading activity included CFO Brett A. Brown selling 5,356 shares at an average price of $18.55, while 60.63% of the company's stock is held by institutional investors, highlighting significant ownership interest.

Tejon Ranch (NYSE:TRC - Get Free Report) posted its quarterly earnings data on Thursday, August 7th. The real estate development and agribusiness company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.04), Zacks reports. The company had revenue of $8.31 million for the quarter, compared to analysts' expectations of $8.10 million. Tejon Ranch had a negative return on equity of 0.11% and a negative net margin of 1.17%.

Tejon Ranch Stock Up 0.0%

Tejon Ranch stock traded up $0.00 during midday trading on Thursday, hitting $17.47. 109,354 shares of the company were exchanged, compared to its average volume of 116,209. The company's fifty day moving average price is $17.59 and its 200-day moving average price is $16.68. The company has a market cap of $469.85 million, a PE ratio of -1,747.30 and a beta of 0.63. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.24 and a quick ratio of 1.66. Tejon Ranch has a fifty-two week low of $14.70 and a fifty-two week high of $19.39.

Insider Buying and Selling

In related news, CFO Brett A. Brown sold 5,356 shares of the business's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $18.55, for a total transaction of $99,353.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 22.44% of the company's stock.

Institutional Investors Weigh In On Tejon Ranch

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio bought a new stake in shares of Tejon Ranch in the 1st quarter valued at approximately $65,000. Raymond James Financial Inc. bought a new stake in shares of Tejon Ranch in the 2nd quarter valued at approximately $122,000. Rhumbline Advisers increased its holdings in shares of 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 acquiring an additional 1,018 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Tejon Ranch in the 2nd quarter valued at approximately $770,000. Finally, American Century Companies Inc. increased its holdings in shares of Tejon Ranch by 10.6% in the 2nd 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 last quarter. 60.63% of the stock is currently owned by hedge funds and other institutional investors.

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.