Alico (NASDAQ:ALCO) Posts Quarterly Earnings Results, Misses Estimates By $1.30 EPS

Key Points

• Alico (NASDAQ:ALCO) reported a quarterly earnings loss of $2.39 per share, missing estimates by $2.04 EPS, amidst a negative net margin of 284.75%.
• The company announced a quarterly dividend of $0.05, translating to an annualized yield of 0.6%, despite a negative payout ratio of -1.09%.
• Wall Street analysts have downgraded Alico's stock from a "hold" rating to a "strong sell" rating as of May 22nd.

Alico (NASDAQ:ALCO - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($2.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.09) by ($1.30), Zacks reports. Alico had a negative net margin of 355.13% and a negative return on equity of 58.27%. The business had revenue of $8.39 million during the quarter, compared to the consensus estimate of $16.90 million.

Alico Stock Down 1.6%

Shares of NASDAQ ALCO traded down $0.54 during midday trading on Friday, hitting $32.81. 48,566 shares of the stock traded hands, compared to its average volume of 26,227. The company has a debt-to-equity ratio of 0.72, a quick ratio of 8.87 and a current ratio of 9.37. Alico has a one year low of $24.23 and a one year high of $34.31. The business has a 50 day moving average price of $32.28 and a two-hundred day moving average price of $30.60. The company has a market cap of $251.00 million, a PE ratio of -1.60 and a beta of 1.01.

Alico Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Friday, June 27th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, June 27th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. Alico's dividend payout ratio is currently -0.97%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Alico from a "hold" rating to a "strong sell" rating in a research report on Thursday, May 22nd.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in Alico by 792.7% during the second quarter. Tower Research Capital LLC TRC now owns 3,285 shares of the company's stock valued at $107,000 after buying an additional 2,917 shares during the period. Jane Street Group LLC bought a new position in Alico during the second quarter valued at approximately $439,000. Raymond James Financial Inc. bought a new position in Alico in the 2nd quarter worth $28,000. American Century Companies Inc. purchased a new stake in Alico during the second quarter valued at $332,000. Finally, Rhumbline Advisers boosted its position in shares of Alico by 45.2% during the second quarter. Rhumbline Advisers now owns 15,598 shares of the company's stock valued at $510,000 after buying an additional 4,859 shares during the period. Hedge funds and other institutional investors own 62.28% of the company's stock.

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.