ValuEngine upgraded shares of Limoneira (NASDAQ:LMNR) from a hold rating to a buy rating in a report issued on Tuesday morning.
LMNR has been the topic of a number of other research reports. Zacks Investment Research cut Limoneira from a hold rating to a sell rating in a report on Wednesday, July 4th. Stephens began coverage on Limoneira in a report on Monday, June 25th. They set an overweight rating and a $30.00 price target on the stock. Buckingham Research boosted their target price on Limoneira from $28.00 to $30.00 and gave the stock a buy rating in a report on Tuesday, June 12th. Lake Street Capital set a $31.00 target price on Limoneira and gave the stock a buy rating in a report on Tuesday, September 11th. Finally, Stifel Nicolaus began coverage on Limoneira in a report on Thursday, June 28th. They set a buy rating and a $30.00 target price on the stock. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $29.50.
Shares of LMNR traded up $0.11 during mid-day trading on Tuesday, reaching $24.83. 236,202 shares of the company’s stock traded hands, compared to its average volume of 85,267. The stock has a market cap of $461.35 million, a PE ratio of 59.12, a price-to-earnings-growth ratio of 2.65 and a beta of 0.86. The company has a current ratio of 0.99, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. Limoneira has a 12 month low of $19.62 and a 12 month high of $33.42.
Limoneira (NASDAQ:LMNR) last released its quarterly earnings results on Monday, September 10th. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). The business had revenue of $39.95 million for the quarter, compared to the consensus estimate of $37.68 million. Limoneira had a net margin of 15.91% and a return on equity of 6.46%. As a group, analysts forecast that Limoneira will post 0.66 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 17th. Investors of record on Monday, October 8th will be issued a dividend of $0.0625 per share. This is a boost from Limoneira’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $0.25 annualized dividend and a yield of 1.01%. Limoneira’s payout ratio is presently 59.52%.
In related news, Director John W.H. Merriman sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $28.01, for a total transaction of $61,622.00. Following the sale, the director now owns 1,218 shares of the company’s stock, valued at $34,116.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can raised its holdings in Limoneira by 6,740.2% during the third quarter. Bank of Montreal Can now owns 5,951 shares of the company’s stock worth $155,000 after purchasing an additional 5,864 shares in the last quarter. Northern Trust Corp raised its holdings in Limoneira by 6.4% during the second quarter. Northern Trust Corp now owns 144,290 shares of the company’s stock worth $3,551,000 after purchasing an additional 8,672 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Limoneira by 52.0% during the second quarter. Advisors Asset Management Inc. now owns 24,488 shares of the company’s stock worth $603,000 after purchasing an additional 8,374 shares in the last quarter. California Public Employees Retirement System raised its holdings in Limoneira by 5.7% during the second quarter. California Public Employees Retirement System now owns 45,461 shares of the company’s stock worth $1,119,000 after purchasing an additional 2,461 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Limoneira during the second quarter worth approximately $718,000. 42.18% of the stock is currently owned by hedge funds and other institutional investors.
Limoneira Company Profile
Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. The Fresh Lemons segment markets and sells lemons directly to food service, wholesale, and retail customers.
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