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Here is how Alico (ALCO) and Archer Daniels Midland (ADM) have performed compared to their sector so far this year.
Alico (ALCO) made it through our "Recent Price Strength" screen and could be a great choice for investors looking to make a profit from stocks that are currently on the move.
Alico, Inc. (NASDAQ:ALCO ) Q4 2023 Earnings Conference Call December 7, 2023 8:30 AM ET Company Participants John Kiernan - President and Chief Executive Officer Brad Heine - Chief Financial Officer Conference Call Participants Gerry Sweeney - ROTH MKM Operator Good morning. Welcome to Alico's Fourth Quarter 2023 Earnings Conference Call.
Company to Host Conference Call on Thursday, December 7, 2023, at 8:30 AM Eastern Time Company to Host Conference Call on Thursday, December 7, 2023, at 8:30 AM Eastern Time
Alico's shares sold off following a dividend cut and hurricane damage to its citrus harvest. Shares continue trading at a discount to NAV despite substantially all trees remaining intact. Strategic project to invest in additional citrus tree plantings increased tree density within Alico citrus groves. Many new trees are now mature enough to produce meaningful fruit quantity. Alico has a significant amount of capital tied up in legacy assets that are non-core to the citrus business.
ALCO, ASIX and CRD.A have been added to the Zacks Rank #5 (Strong Sell) List on October 4, 2023.
Alico reports a decline in revenues due to damages caused by Hurricane Ian, but net income is not severely affected thanks to crop insurance payouts. The company remains hopeful for disaster relief funds and expects the upcoming 2023-24 harvest to show substantial recovery. Alico sees continued interest in its ranch lands and may have valuable real estate assets that could increase the overall value of the company.
ALCO, BWMN and BHLB have been added to the Zacks Rank #5 (Strong Sell) List on September 15, 2023.
BLFS, ALCO and AFCG have been added to the Zacks Rank #5 (Strong Sell) List on September 13, 2023.
ALCO, CPRI and DG have been added to the Zacks Rank #5 (Strong Sell) List on September 7, 2023.