Analysts predict that Limoneira (NASDAQ:LMNR) will report sales of $45.20 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Limoneira’s earnings, with the lowest sales estimate coming in at $40.69 million and the highest estimate coming in at $50.30 million. Limoneira posted sales of $39.57 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.2%. The company is expected to issue its next quarterly earnings report on Tuesday, June 8th.
According to Zacks, analysts expect that Limoneira will report full-year sales of $182.89 million for the current year, with estimates ranging from $177.78 million to $191.00 million. For the next financial year, analysts forecast that the company will report sales of $227.18 million, with estimates ranging from $212.44 million to $252.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Limoneira.
Limoneira (NASDAQ:LMNR) last announced its quarterly earnings results on Tuesday, March 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.03. Limoneira had a negative net margin of 9.99% and a negative return on equity of 5.77%. The company had revenue of $38.28 million during the quarter, compared to the consensus estimate of $35.37 million.
LMNR has been the subject of several recent research reports. Northland Securities raised Limoneira from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research note on Friday, March 12th. Lake Street Capital raised their price target on shares of Limoneira from $18.00 to $20.50 and gave the company a “buy” rating in a research note on Thursday, March 11th. Stephens upgraded shares of Limoneira from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $17.00 to $20.00 in a report on Thursday, March 11th. Roth Capital increased their price objective on Limoneira from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, March 11th. Finally, Seaport Global Securities initiated coverage on Limoneira in a report on Thursday, February 25th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $23.25.
Limoneira stock traded up $0.24 during trading hours on Tuesday, hitting $17.36. The stock had a trading volume of 610 shares, compared to its average volume of 67,805. The business’s 50 day simple moving average is $17.45 and its 200-day simple moving average is $15.98. Limoneira has a one year low of $10.91 and a one year high of $19.37. The stock has a market cap of $307.01 million, a price-to-earnings ratio of -17.88, a P/E/G ratio of 5.67 and a beta of 1.04. The company has a quick ratio of 1.58, a current ratio of 1.78 and a debt-to-equity ratio of 0.59.
The company also recently announced a quarterly dividend, which was paid on Friday, April 16th. Investors of record on Monday, April 5th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Thursday, April 1st. Limoneira’s dividend payout ratio is presently -43.48%.
In other Limoneira news, Director Jose De Jesus Loza purchased 7,500 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was purchased at an average cost of $18.38 per share, for a total transaction of $137,850.00. Following the acquisition, the director now owns 263,568 shares in the company, valued at approximately $4,844,379.84. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders purchased 30,850 shares of company stock worth $542,093 and sold 6,346 shares worth $110,880. 4.50% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in LMNR. BlackRock Inc. increased its holdings in shares of Limoneira by 4.9% during the fourth quarter. BlackRock Inc. now owns 1,125,892 shares of the company’s stock valued at $18,746,000 after acquiring an additional 52,361 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Limoneira by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 607,831 shares of the company’s stock worth $10,120,000 after acquiring an additional 11,991 shares during the period. First Wilshire Securities Management Inc. grew its position in Limoneira by 152.2% during the fourth quarter. First Wilshire Securities Management Inc. now owns 352,463 shares of the company’s stock valued at $5,869,000 after buying an additional 212,733 shares during the period. Bank of New York Mellon Corp increased its position in Limoneira by 35.4% in the fourth quarter. Bank of New York Mellon Corp now owns 111,339 shares of the company’s stock worth $1,853,000 after buying an additional 29,119 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Limoneira by 8.4% during the 4th quarter. Wells Fargo & Company MN now owns 45,903 shares of the company’s stock valued at $764,000 after buying an additional 3,558 shares during the last quarter. Institutional investors own 52.88% of the company’s stock.
Limoneira Company Profile
Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through four segments: Fresh Lemons, Lemon Packing, Avocados, and Other Agribusiness. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, pistachios, and wine grapes.
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