B. Riley Reiterates “Buy” Rating for Consolidated-Tomoka Land (NYSEAMERICAN:CTO)

B. Riley reiterated their buy rating on shares of Consolidated-Tomoka Land (NYSEAMERICAN:CTO) in a research note published on Tuesday, January 9th, MarketBeat reports. The firm currently has a $82.00 price objective on the financial services provider’s stock, up from their prior price objective of $80.00. B. Riley also issued estimates for Consolidated-Tomoka Land’s Q4 2017 earnings at $0.47 EPS, FY2017 earnings at $3.55 EPS, Q1 2018 earnings at $0.65 EPS, Q3 2018 earnings at $1.54 EPS, FY2018 earnings at $8.51 EPS, Q1 2019 earnings at $0.70 EPS, Q2 2019 earnings at $1.51 EPS, Q3 2019 earnings at $1.61 EPS, Q4 2019 earnings at $1.49 EPS and FY2019 earnings at $5.30 EPS.

Several other equities research analysts also recently weighed in on CTO. BidaskClub upgraded Consolidated-Tomoka Land from a hold rating to a buy rating in a report on Wednesday, September 13th. FBR & Co reissued a buy rating on shares of Consolidated-Tomoka Land in a research note on Thursday, October 19th. Finally, Zacks Investment Research raised Consolidated-Tomoka Land from a hold rating to a buy rating and set a $65.00 price objective on the stock in a research note on Thursday, November 2nd.

Shares of Consolidated-Tomoka Land (NYSEAMERICAN CTO) traded up $0.23 during mid-day trading on Tuesday, reaching $67.23. The company’s stock had a trading volume of 5,032 shares, compared to its average volume of 16,036. Consolidated-Tomoka Land has a fifty-two week low of $49.73 and a fifty-two week high of $67.58. The stock has a market capitalization of $374.31, a P/E ratio of 16.77 and a beta of 1.14.

Consolidated-Tomoka Land (NYSEAMERICAN:CTO) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.04). Consolidated-Tomoka Land had a return on equity of 2.43% and a net margin of 7.81%. The business had revenue of $12.38 million during the quarter, compared to analysts’ expectations of $15.03 million.

In related news, CEO John P. Albright sold 1,453 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $62.87, for a total value of $91,350.11. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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About Consolidated-Tomoka Land

Consolidated-Tomoka Land Co is a real estate operating company. As of December 31, 2016, the Company owned and managed 31 commercial real estate properties in 10 states in the United States. Its segments include Income Properties, Commercial Loan Investments, Real Estate Operations, Golf Operations, and Agriculture and Other.

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