Alico (NASDAQ:ALCO) Issues Quarterly Earnings Results

Alico (NASDAQ:ALCO) posted its quarterly earnings data on Monday, May 11th. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.40, FiscalAI reports. The firm had revenue of $5.34 million during the quarter, compared to analysts’ expectations of $2.45 million. Alico had a negative return on equity of 38.92% and a negative net margin of 115.00%.

Alico Trading Down 1.3%

ALCO traded down $0.52 during trading on Monday, hitting $40.31. 12,565 shares of the company’s stock were exchanged, compared to its average volume of 25,564. The company has a current ratio of 9.63, a quick ratio of 9.39 and a debt-to-equity ratio of 0.80. The firm has a market cap of $298.94 million, a P/E ratio of -16.39 and a beta of 0.92. The stock has a 50 day moving average price of $41.66 and a 200 day moving average price of $39.79. Alico has a 1 year low of $30.94 and a 1 year high of $45.01.

Alico Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 17th. Shareholders of record on Friday, April 3rd were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, April 2nd. This represents a $0.20 annualized dividend and a yield of 0.5%. Alico’s dividend payout ratio is currently -8.13%.

Hedge Funds Weigh In On Alico

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

Analyst Ratings Changes

ALCO has been the subject of several analyst reports. Roth Mkm set a $45.00 price objective on Alico and gave the company a “buy” rating in a report on Friday, March 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Alico in a research report on Monday, April 20th. Wall Street Zen raised Alico from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Freedom Capital downgraded Alico from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Alico currently has an average rating of “Hold” and a consensus price target 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.