Q2 2019 Earnings Forecast for Consolidated-Tomoka Land Co. (CTO) Issued By B. Riley

Consolidated-Tomoka Land Co. (NYSEAMERICAN:CTO) – Equities researchers at B. Riley increased their Q2 2019 earnings per share estimates for shares of Consolidated-Tomoka Land in a note issued to investors on Friday, February 8th. B. Riley analyst C. Kucera now expects that the financial services provider will post earnings of $2.60 per share for the quarter, up from their previous forecast of $2.59. B. Riley also issued estimates for Consolidated-Tomoka Land’s Q3 2019 earnings at $1.77 EPS, Q1 2020 earnings at $1.30 EPS, Q2 2020 earnings at $1.33 EPS, Q3 2020 earnings at $1.38 EPS, Q4 2020 earnings at $1.28 EPS and FY2020 earnings at $5.30 EPS.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last posted its earnings results on Tuesday, February 5th. The financial services provider reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.15. The business had revenue of $33.23 million for the quarter, compared to analyst estimates of $32.06 million.

Separately, Zacks Investment Research raised Consolidated-Tomoka Land from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Wednesday, February 6th.

CTO stock opened at $60.90 on Monday. Consolidated-Tomoka Land has a 52-week low of $49.23 and a 52-week high of $67.97.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Friday, February 8th will be paid a dividend of $0.10 per share. This is a boost from Consolidated-Tomoka Land’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, February 7th. This represents a $0.40 annualized dividend and a yield of 0.66%.

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Consolidated-Tomoka Land by 16.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,800 shares of the financial services provider’s stock valued at $148,000 after buying an additional 400 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Consolidated-Tomoka Land by 44.7% in the fourth quarter. Rhumbline Advisers now owns 5,595 shares of the financial services provider’s stock valued at $294,000 after buying an additional 1,729 shares in the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of Consolidated-Tomoka Land in the third quarter valued at $401,000. Great West Life Assurance Co. Can grew its stake in shares of Consolidated-Tomoka Land by 51.6% in the third quarter. Great West Life Assurance Co. Can now owns 6,461 shares of the financial services provider’s stock valued at $403,000 after buying an additional 2,200 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Consolidated-Tomoka Land by 17.9% in the fourth quarter. First Trust Advisors LP now owns 9,944 shares of the financial services provider’s stock valued at $522,000 after buying an additional 1,508 shares in the last quarter.

About Consolidated-Tomoka Land

Consolidated-Tomoka Land Co, together with its subsidiaries, operates as a diversified real estate operating company in the United States. The company operates through four segments: Income Properties, Commercial Loan Investments, Real Estate Operations, and Golf Operations. It owns and manages commercial real estate properties.

Featured Story: How dollar cost averaging works

Earnings History and Estimates for Consolidated-Tomoka Land (NYSEAMERICAN:CTO)

Receive News & Ratings for Consolidated-Tomoka Land Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated-Tomoka Land and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply