Alico (NASDAQ:ALCO) Announces Earnings Results, Beats Estimates By $1.03 EPS

Alico (NASDAQ:ALCO) announced its earnings results on Monday. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $1.03, FiscalAI reports. Alico had a negative net margin of 115.00% and a negative return on equity of 38.92%. The firm had revenue of $9.04 million during the quarter, compared to analyst estimates of $2.75 million.

Alico Stock Performance

Shares of ALCO opened at $39.06 on Tuesday. The company has a 50-day moving average of $40.21 and a two-hundred day moving average of $40.74. The stock has a market cap of $289.83 million, a price-to-earnings ratio of -15.88 and a beta of 0.91. The company has a debt-to-equity ratio of 0.80, a current ratio of 9.63 and a quick ratio of 9.39. Alico has a one year low of $31.32 and a one year high of $45.01.

Alico Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 0.5%. Alico’s dividend payout ratio is currently -8.13%.

Institutional Trading of Alico

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Alico in the second quarter worth $28,000. BNP Paribas Financial Markets lifted its stake in Alico by 86.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,030 shares of the company’s stock worth $36,000 after acquiring an additional 478 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Alico by 24.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,611 shares of the company’s stock worth $53,000 after acquiring an additional 314 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Alico by 792.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the company’s stock worth $107,000 after acquiring an additional 2,917 shares during the period. Finally, Alliancebernstein L.P. purchased a new position in Alico during the 3rd quarter valued at about $224,000. 62.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on ALCO shares. Freedom Capital lowered shares of Alico from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 14th. Weiss Ratings restated a “sell (d)” rating on shares of Alico in a research report on Friday, July 17th. Finally, Wall Street Zen raised Alico from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $45.00.

About Alico

Alico, Inc is an agribusiness and land management company headquartered in Fort Myers, Florida. The company owns and manages over 110,000 acres of land in southwestern Florida, with operations focused on citrus groves, sugarcane production, forestry and other row crops. Alico leverages its extensive land holdings to support integrated agricultural and environmental stewardship practices.

In its citrus division, Alico cultivates and markets fresh oranges for both the retail and processing markets, while its sugarcane segment supplies raw cane to domestic sugar mills.