$61.84 Million in Sales Expected for Limoneira (NASDAQ:LMNR) This Quarter

Analysts expect Limoneira (NASDAQ:LMNR) to announce sales of $61.84 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Limoneira’s earnings. The lowest sales estimate is $58.47 million and the highest is $65.20 million. Limoneira reported sales of $39.95 million during the same quarter last year, which indicates a positive year-over-year growth rate of 54.8%. The firm is scheduled to issue its next earnings results on Monday, September 9th.

According to Zacks, analysts expect that Limoneira will report full year sales of $176.08 million for the current fiscal year, with estimates ranging from $175.50 million to $176.65 million. For the next financial year, analysts forecast that the business will post sales of $222.56 million, with estimates ranging from $221.71 million to $223.40 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Limoneira.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings results on Monday, June 10th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. Limoneira had a negative return on equity of 0.26% and a net margin of 2.22%. The company had revenue of $42.04 million for the quarter, compared to analyst estimates of $43.54 million.

Several equities research analysts recently weighed in on the company. BidaskClub raised Limoneira from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 31st. Zacks Investment Research raised Limoneira from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 6th. National Securities assumed coverage on Limoneira in a report on Monday, July 22nd. They set a “buy” rating and a $30.00 price objective on the stock. 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 report on Thursday, June 13th. Finally, Stephens downgraded Limoneira from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $25.00 to $18.00 in a report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $26.60.

Shares of NASDAQ LMNR traded down $0.01 during mid-day trading on Thursday, hitting $18.86. 27,786 shares of the stock traded hands, compared to its average volume of 53,174. The company has a current ratio of 1.04, a quick ratio of 0.96 and a debt-to-equity ratio of 0.43. Limoneira has a twelve month low of $18.03 and a twelve month high of $33.42. The firm has a market capitalization of $335.37 million, a P/E ratio of 37.72, a PEG ratio of 4.44 and a beta of 1.08. The firm’s 50 day simple moving average is $19.24.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Monday, July 8th were issued a dividend of $0.075 per share. This is an increase from Limoneira’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, July 5th. This represents a $0.30 annualized dividend and a dividend yield of 1.59%. Limoneira’s dividend payout ratio (DPR) is 60.00%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its holdings in Limoneira by 132,800.0% during the 2nd quarter. Bank of Montreal Can now owns 1,329 shares of the company’s stock worth $27,000 after buying an additional 1,328 shares during the period. Aperio Group LLC acquired a new position in Limoneira during the 2nd quarter worth about $41,000. BNP Paribas Arbitrage SA lifted its holdings in Limoneira by 757.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,094 shares of the company’s stock worth $73,000 after buying an additional 2,733 shares during the period. JPMorgan Chase & Co. lifted its holdings in Limoneira by 18.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,296 shares of the company’s stock worth $83,000 after buying an additional 668 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in Limoneira by 369.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,424 shares of the company’s stock worth $86,000 after buying an additional 3,481 shares during the period. 54.43% of the stock is currently owned by institutional investors.

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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