Limoneira (LMNR) to Issue Quarterly Dividend of $0.08 on July 18th

Limoneira (NASDAQ:LMNR) announced a quarterly dividend on Thursday, June 27th, Fidelity reports. Investors of record on Monday, July 8th will be paid a dividend of 0.075 per share on Thursday, July 18th. This represents a $0.30 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, July 5th. This is a positive change from Limoneira’s previous quarterly dividend of $0.05.

Limoneira has increased its dividend payment by an average of 11.6% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Limoneira has a dividend payout ratio of 45.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Limoneira to earn $0.87 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 34.5%.

Shares of NASDAQ:LMNR opened at $19.40 on Wednesday. The company has a 50 day moving average price of $19.48. The company has a market capitalization of $347.81 million, a PE ratio of 38.80, a price-to-earnings-growth ratio of 4.74 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.96. Limoneira has a 1 year low of $18.07 and a 1 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 (EPS) for the quarter, beating the 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 for the quarter, compared to analyst estimates of $43.54 million. As a group, sell-side analysts predict that Limoneira will post 0.28 EPS for the current fiscal year.

A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Limoneira from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 19th. Zacks Investment Research raised shares of Limoneira from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Lake Street Capital reiterated a “buy” rating and issued a $25.00 price target (down from $28.00) on shares of Limoneira in a research note on Thursday, June 13th. ValuEngine upgraded shares of Limoneira from a “hold” rating to a “buy” rating in a research note on Thursday, March 14th. Finally, TheStreet lowered shares of Limoneira from a “b-” rating to a “c+” rating in a research note on Tuesday, June 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.75.

Limoneira Company Profile

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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Dividend History for Limoneira (NASDAQ:LMNR)

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