"kitchen-sinked" the earnings and div cut today along with the guidance. Big volume on the downside. Stock likely put in a bottom today. Time to buy!
OXY's long anticipated spin-off of it's CA biz just might be bullish for TRC. OXY owns very large tracts of low-producing properties due North of TRC. With an eye towards slant drilling and fracking (if it's ever allowed in CA), TRC might be an unexpected beneficiary. Should be carefully watched with this in mind.
Mr. Market STRONGLY disagreed with you.
The "wild card" in the equation for TRC is oil/fracking. OXY owns lots of oil land just North of TRC which they have indicated they want to further develop. If fracking opens up in Calif., TRC could be huge.
That conference took place weeks ago. It does NOT reflect the very bad news that came out on the company yesterday (and the price drop). This company is probably dead money for the foreseeable future. If you like the sector, go to ABX.
You can throw out all normal metrics on this company (P/E, etc.). This company is, basically, impossible to analyze by traditional methods. For DECADES, this company has hinted at a tremendous store of value with vast land holdings sidled up to a huge metro area. Nobody really knows what the land is worth. It's carried on the books at stupidly low valuations. It has remained a totally opaque company with an insular non-shareholder friendly management. Everyone knows there's a store of value there but nobody has ever been able to unlock it. Unless and until some activist investor gets turned onto the company, it is likely this will not change. There is no rhyme or reason to this company. Owning it is a study in faith and hope but is not based on a reasoned investment approach. The stock trades horribly (illiquid). I keep a small position just to stay informed (for some irrational reason), but am not optimistic the theoretical value will ever be realized.
Run the charts against each other. ABX has only outperformed the last week or so. Before that, NEM was better. They'll switch back and forth. Either is OK. Buy any weakness.
Sentiment: Strong Buy
CEO was on Fast Money. Said the 1st Q earnings are going to be hit due to weather. But said they're going to be very big in the biz of putting wi-fi on airlines. Big contract with United. JBLU's fleet will be wired by October this year. They set up a separate subsidiary contracting to other airlines to do the wi-fi. Expect it to be a big biz and a much superior product to GoGo. Buy any meaningful weakness.
The group got hit hard because the CEO of AutoNation said that a price war could be developing as dealer inventories are very high (near record levels). It was all there. Just have to look for it. Sell any rallies. This group is done for a while.
Sentiment: Strong Sell
This is a very screwy company to try to value. Who really knows what the value of their land-holdings are? I just wouldn't use that single metric. The company has always been a puzzlement and it remains as such. There's lots of value there but its very hard to unlock. Maybe some activist investor will figure it out someday.