Alico (NASDAQ:ALCO) Posts Quarterly Earnings Results, Misses Expectations 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) released its quarterly earnings data on Tuesday. The company reported ($2.39) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($1.30), Zacks reports. The company had revenue of $8.39 million during the quarter, compared to the consensus estimate of $16.90 million. Alico had a negative net margin of 355.13% and a negative return on equity of 58.27%.

Alico Trading Down 1.6%

Shares of NASDAQ:ALCO traded down $0.54 during mid-day trading on Friday, hitting $32.81. The company had a trading volume of 48,566 shares, compared to its average volume of 25,079. The firm has a fifty day moving average price of $32.28 and a 200 day moving average price of $30.60. The company has a market capitalization of $251.00 million, a PE ratio of -1.60 and a beta of 1.01. The company has a debt-to-equity ratio of 0.72, a current ratio of 9.37 and a quick ratio of 4.65. Alico has a one year low of $24.23 and a one year high of $34.31.

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 paid a $0.05 dividend. The ex-dividend date was Friday, June 27th. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. Alico's payout ratio is currently -0.97%.

Institutional Trading of Alico

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

Analyst Ratings Changes

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

Alico Company Profile

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.