Alico (NASDAQ:ALCO) Posts Quarterly Earnings Results, Beats Expectations By $1.03 EPS

Alico (NASDAQ:ALCO) released its earnings results on Monday. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $1.03, FiscalAI reports. Alico had a negative return on equity of 20.68% and a net margin of 8.98%.The company had revenue of $9.04 million during the quarter, compared to the consensus estimate of $2.75 million.

Alico Trading Up 4.2%

NASDAQ:ALCO traded up $1.73 during mid-day trading on Wednesday, hitting $43.12. The company had a trading volume of 3,884 shares, compared to its average volume of 24,781. 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 fifty-two week low of $31.32 and a fifty-two week high of $45.01. The firm has a market cap of $319.99 million, a P/E ratio of 194.67 and a beta of 0.91. The business’s fifty day moving average is $40.22 and its two-hundred day moving average is $40.75.

Alico Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on ALCO shares. Wall Street Zen upgraded Alico from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Freedom Capital downgraded shares of Alico from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Alico in a research report on Friday, July 17th. 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $45.00.

Institutional Trading of Alico

A number of institutional investors and hedge funds have recently modified their holdings of ALCO. Millennium Management LLC raised its position in shares of Alico by 73.2% in the 4th quarter. Millennium Management LLC now owns 20,677 shares of the company’s stock valued at $752,000 after acquiring an additional 8,736 shares during the period. AQR Capital Management LLC grew its holdings in Alico by 5.4% during the fourth quarter. AQR Capital Management LLC now owns 12,416 shares of the company’s stock valued at $452,000 after purchasing an additional 640 shares during the period. Trexquant Investment LP grew its holdings in Alico by 6.5% during the fourth quarter. Trexquant Investment LP now owns 6,917 shares of the company’s stock valued at $252,000 after purchasing an additional 424 shares during the period. Russell Investments Group Ltd. increased its stake in Alico by 25.9% in the fourth quarter. Russell Investments Group Ltd. now owns 15,882 shares of the company’s stock valued at $578,000 after purchasing an additional 3,263 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Alico in the fourth quarter valued at approximately $796,000. 62.28% of the stock is owned by institutional investors.

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.