Tejon Ranch (NYSE:TRC) Issues Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Tejon Ranch (NYSE:TRC) posted its quarterly earnings data on Thursday. The real estate development and agribusiness company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06), reports. Tejon Ranch had a negative return on equity of 0.05% and a negative net margin of 0.57%. The company had revenue of $10.86 million for the quarter, compared to analyst estimates of $10.19 million.

Tejon Ranch Trading Up 1.9 %

Shares of Tejon Ranch stock opened at $16.83 on Friday. The business has a 50 day simple moving average of $17.02 and a two-hundred day simple moving average of $17.27. Tejon Ranch has a 12 month low of $14.80 and a 12 month high of $19.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.43 and a quick ratio of 2.95.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL raised its position in shares of Tejon Ranch by 1.7% in the first quarter. Gamco Investors INC. ET AL now owns 667,822 shares of the real estate development and agribusiness company’s stock valued at $10,291,000 after buying an additional 11,062 shares during the last quarter. Foundation Resource Management Inc. grew its position in shares of Tejon Ranch by 1.6% in the second quarter. Foundation Resource Management Inc. now owns 490,686 shares of the real estate development and agribusiness company’s stock valued at $8,371,000 after purchasing an additional 7,913 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Tejon Ranch by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 339,038 shares of the real estate development and agribusiness company’s stock valued at $5,784,000 after purchasing an additional 6,605 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of Tejon Ranch by 1.4% in the first quarter. Gabelli Funds LLC now owns 142,200 shares of the real estate development and agribusiness company’s stock valued at $2,191,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Oppenheimer & Close LLC lifted its position in Tejon Ranch by 2.1% during the second quarter. Oppenheimer & Close LLC now owns 131,681 shares of the real estate development and agribusiness company’s stock worth $2,246,000 after buying an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 60.63% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Tejon Ranch to a “sell” rating in a research note on Wednesday, August 7th.

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.