Texas Pacific Land Corp (NYSE: TPL) has reported earnings for its first fiscal quarter (ending March 31) of $4.97 versus $11.25 for the same period a year ago — a decline of -56%. This result fell short of the consensus estimate of $5.27 by $-0.30. For the latest four quarters through March 31, E.P.S. were $18.82 versus $56.40 for the same period a year ago — a decline of -67%.
Recent Price Action
On 5/8/24, Texas Pacific Land Corp (NYSE: TPL) stock declined modestly by -1.1%, closing at $563.50. However, this decline was accompanied by normal trading volume at 83% of normal. Relative to the market the stock has been weak over the last nine months and has declined -2.2% during the last week.
Current PriceTarget Research Rating
TPL is expected to continue to be a Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Texas Pacific Land has a current Value Trend Rating of F (Lowest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing complementary signals. Texas Pacific Land has a slightly negative Appreciation Score of 36 and a very low Power Rating of 14, and the Lowest Value Trend Rating results.
Rating Review
In light of this discouraging new earnings information and negative market action we are reviewing our current Overall Rating of F. We would continue to view the shares with caution pending completion of this review in the next several days.
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