Limoneira (NASDAQ:LMNR) Issues FY 2019 Earnings Guidance

Limoneira (NASDAQ:LMNR) issued an update on its FY 2019 earnings guidance on Monday morning. The company provided earnings per share guidance of $-0.22–0.12 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.19.

LMNR has been the topic of several analyst reports. ValuEngine raised shares of Limoneira from a buy rating to a strong-buy rating in a research report on Saturday, August 31st. BidaskClub downgraded Limoneira from a hold rating to a sell rating in a research report on Saturday, August 31st. Lake Street Capital reissued a buy rating and set a $25.00 price objective (down previously from $28.00) on shares of Limoneira in a research report on Thursday, June 13th. Stephens downgraded Limoneira from an overweight rating to an equal weight rating and decreased their target price for the company from $25.00 to $18.00 in a research note on Tuesday, May 14th. Finally, Zacks Investment Research lowered Limoneira from a hold rating to a strong sell rating in a report on Thursday. Two analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Limoneira has an average rating of Buy and an average price target of $26.60.

Shares of NASDAQ:LMNR traded down $0.81 on Monday, hitting $18.55. 158,100 shares of the company were exchanged, compared to its average volume of 66,458. The company’s 50 day moving average price is $18.89 and its two-hundred day moving average price is $20.98. The firm has a market capitalization of $344.03 million, a price-to-earnings ratio of 37.10 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.96 and a current ratio of 1.04. Limoneira has a one year low of $17.05 and a one year high of $33.42.

Limoneira (NASDAQ:LMNR) last released its earnings results on Monday, June 10th. The company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. Limoneira had a net margin of 2.22% and a negative return on equity of 0.26%. The business had revenue of $42.04 million during the quarter, compared to analysts’ expectations of $43.54 million. Research analysts predict that Limoneira will post -0.17 earnings per share for the current year.

About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates in six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons.

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