Alico (NASDAQ:ALCO) Releases Quarterly Earnings Results, Misses Expectations By $0.72 EPS

Alico (NASDAQ:ALCO) announced its quarterly earnings results on Monday. The company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.72), FiscalAI reports. Alico had a negative net margin of 355.13% and a negative return on equity of 58.27%. The business had revenue of $0.80 million for the quarter, compared to analysts’ expectations of $0.30 million.

Alico Stock Performance

Alico stock remained flat at $31.73 during midday trading on Monday. The company had a trading volume of 14,302 shares, compared to its average volume of 40,483. The firm has a market capitalization of $242.58 million, a P/E ratio of -1.54 and a beta of 0.99. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.87 and a current ratio of 9.37. The stock’s 50-day moving average price is $33.74 and its 200-day moving average price is $32.83. Alico has a twelve month low of $24.76 and a twelve month high of $35.90.

Alico Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Friday, September 26th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $0.20 annualized dividend and a yield of 0.6%. Alico’s dividend payout ratio (DPR) is currently -0.97%.

Insider Activity at Alico

In related news, Director Henry R. Slack sold 3,548 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $34.29, for a total value of $121,660.92. Following the transaction, the director directly owned 35,188 shares in the company, valued at approximately $1,206,596.52. This represents a 9.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.30% of the company’s stock.

Hedge Funds Weigh In On Alico

A number of hedge funds and other institutional investors have recently bought and sold shares of ALCO. Alliancebernstein L.P. bought a new position in shares of Alico in the 3rd quarter worth $224,000. UBS Group AG grew its position in Alico by 2.0% in the third quarter. UBS Group AG now owns 27,239 shares of the company’s stock worth $944,000 after acquiring an additional 523 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Alico by 86.6% in the third quarter. BNP Paribas Financial Markets now owns 1,030 shares of the company’s stock valued at $36,000 after acquiring an additional 478 shares during the last quarter. Russell Investments Group Ltd. raised its position in Alico by 99.5% during the third quarter. Russell Investments Group Ltd. now owns 12,619 shares of the company’s stock valued at $437,000 after purchasing an additional 6,295 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Alico by 1.6% during the third quarter. Vanguard Group Inc. now owns 259,666 shares of the company’s stock worth $9,000,000 after purchasing an additional 4,064 shares during the last quarter. Hedge funds and other institutional investors own 62.28% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alico in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.