Alico (NASDAQ:ALCO) Releases Quarterly 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 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 business had revenue of $9.04 million for the quarter, compared to the consensus estimate of $2.75 million.

Alico Trading Up 2.3%

ALCO traded up $0.86 on Monday, hitting $39.06. 36,293 shares of the company were exchanged, compared to its average volume of 24,881. The firm has a fifty day simple moving average of $40.23 and a two-hundred day simple moving average of $40.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 9.39 and a current ratio of 9.63. Alico has a 12 month low of $31.32 and a 12 month high of $45.01. The stock has a market capitalization of $289.67 million, a PE ratio of -15.88 and a beta of 0.91.

Alico Dividend Announcement

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

Institutional Trading of Alico

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC bought a new stake in Alico in the 4th quarter worth $796,000. Jane Street Group LLC bought a new position in shares of Alico during the second quarter valued at about $439,000. M Holdings Securities Inc. bought a new position in shares of Alico during the fourth quarter valued at about $450,000. Goldman Sachs Group Inc. boosted its holdings in shares of Alico by 61.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 27,232 shares of the company’s stock worth $991,000 after purchasing an additional 10,375 shares during the period. Finally, American Century Companies Inc. purchased a new stake in shares of Alico during the second quarter worth about $332,000. Institutional investors own 62.28% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Alico Company Profile

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.