Limoneira (NASDAQ:LMNR) Issues FY 2019 Earnings Guidance

Limoneira (NASDAQ:LMNR) updated its FY 2019 earnings guidance on Monday. The company provided EPS guidance of $0.25-0.45 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.57.

Several equities research analysts have recently issued reports on LMNR shares. BidaskClub lowered shares of Limoneira from a sell rating to a strong sell rating in a research report on Wednesday, May 22nd. ValuEngine raised shares of Limoneira from a hold rating to a buy rating in a research report on Wednesday, May 15th. Zacks Investment Research downgraded shares of Limoneira from a hold rating to a sell rating in a research note on Wednesday, May 15th. Lake Street Capital set a $28.00 target price on shares of Limoneira and gave the company a buy rating in a research note on Tuesday, May 14th. Finally, Stephens downgraded shares of 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. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $27.20.

NASDAQ LMNR opened at $20.41 on Wednesday. Limoneira has a 12 month low of $18.07 and a 12 month high of $33.42. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.28 and a current ratio of 1.38. The firm has a market cap of $336.79 million, a price-to-earnings ratio of 40.82, a P/E/G ratio of 2.24 and a beta of 1.07.

Limoneira (NASDAQ:LMNR) last issued its earnings results on Monday, June 10th. The company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.02. The company had revenue of $42.04 million for the quarter, compared to analysts’ expectations of $43.54 million. Limoneira had a net margin of 4.91% and a return on equity of 3.73%. On average, research analysts expect that Limoneira will post 0.56 EPS for the current fiscal year.

In related news, CFO Mark Palamountain sold 1,611 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $24.35, for a total value of $39,227.85. Following the sale, the chief financial officer now owns 49,698 shares of the company’s stock, valued at approximately $1,210,146.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John W.H. Merriman sold 1,811 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $24.09, for a total transaction of $43,626.99. Following the completion of the sale, the director now directly owns 2,011 shares in the company, valued at approximately $48,444.99. The disclosure for this sale can be found here. Insiders have sold 7,672 shares of company stock worth $179,285 over the last three months. 4.50% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in Limoneira stock. Geode Capital Management LLC grew its position in Limoneira (NASDAQ:LMNR) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,903 shares of the company’s stock after purchasing an additional 11,996 shares during the quarter. Geode Capital Management LLC owned approximately 0.91% of Limoneira worth $3,165,000 as of its most recent SEC filing. Institutional investors and hedge funds own 54.06% of the company’s stock.

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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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