Limoneira (NASDAQ:LMNR) Releases Earnings Results, Meets Expectations

Limoneira (NASDAQ:LMNR) issued its quarterly earnings results on Monday. The company reported ($0.24) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.24), Fidelity Earnings reports. Limoneira had a negative return on equity of 3.97% and a negative net margin of 4.08%. The business had revenue of $36.48 million for the quarter, compared to analyst estimates of $24.78 million.

LMNR stock opened at $19.41 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.29 and a quick ratio of 1.11. The firm has a market capitalization of $325.42 million, a P/E ratio of 38.82, a P/E/G ratio of 2.46 and a beta of 1.05. The business’s 50-day moving average is $19.56 and its two-hundred day moving average is $19.10. Limoneira has a 1 year low of $17.05 and a 1 year high of $25.65.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, December 27th. Limoneira’s payout ratio is 60.00%.

In other news, CEO Harold S. Edwards sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $20.24, for a total value of $40,480.00. Insiders sold a total of 3,600 shares of company stock worth $72,660 in the last ninety days. 4.50% of the stock is owned by corporate insiders.

A number of equities research analysts have recently weighed in on the company. National Securities restated a “buy” rating and set a $30.00 price target on shares of Limoneira in a research note on Tuesday. BidaskClub downgraded Limoneira from a “buy” rating to a “hold” rating in a report on Saturday, December 21st. ValuEngine raised Limoneira from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 24th. Finally, Zacks Investment Research downgraded Limoneira from a “buy” rating to a “hold” rating in a report on Wednesday, December 25th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Limoneira presently has a consensus rating of “Buy” and an average price target of $23.75.

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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Earnings History for Limoneira (NASDAQ:LMNR)

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