Alico (NASDAQ:ALCO) Releases Quarterly Earnings Results, Misses Expectations By $0.71 EPS

Alico (NASDAQ:ALCO) released its quarterly earnings results on Monday. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.71), Zacks reports. Alico had a negative return on equity of 58.27% and a negative net margin of 355.13%.The firm had revenue of $0.80 million during the quarter, compared to analyst estimates of $0.30 million.

Alico Stock Up 4.9%

Shares of NASDAQ:ALCO opened at $33.28 on Wednesday. The company has a market capitalization of $254.43 million, a P/E ratio of -1.62 and a beta of 0.99. The stock’s fifty day simple moving average is $33.67 and its 200-day simple moving average is $32.88. Alico has a 52-week low of $24.76 and a 52-week high of $35.90. The company has a quick ratio of 8.87, a current ratio of 9.37 and a debt-to-equity ratio of 0.72.

Alico Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Friday, September 26th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, September 26th. Alico’s payout ratio is -0.97%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Alico in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Investors Weigh In On Alico

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of Alico by 99.5% in the third quarter. Russell Investments Group Ltd. now owns 12,619 shares of the company’s stock valued at $437,000 after buying an additional 6,295 shares during the last quarter. BNP Paribas Financial Markets grew 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 during the period. UBS Group AG grew its stake in Alico by 2.0% in the 3rd quarter. UBS Group AG now owns 27,239 shares of the company’s stock worth $944,000 after acquiring an additional 523 shares during the period. Alliancebernstein L.P. acquired a new position in Alico in the 3rd quarter valued at $224,000. Finally, Jane Street Group LLC purchased a new position in shares of Alico during the 2nd quarter worth $439,000. 62.28% of the stock is owned by institutional investors and hedge funds.

About Alico

Alico, Inc, together with its subsidiaries, operates as an agribusiness and land management company in the United States. The company operates in two segments, Alico Citrus, and Land Management and Other Operations. The Alico Citrus segment engages in planting, owning, cultivating, and/or managing citrus groves to produce fruit for sale to fresh and processed citrus markets, including activities related to the purchase and resale of fruit and value-added services, which include contracting for the harvesting, marketing, and hauling of citrus.