Limoneira (NASDAQ:LMNR) Posts Earnings Results, Misses Expectations By $0.21 EPS

Limoneira (NASDAQ:LMNR) released its quarterly earnings data on Sunday. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.21), MarketWatch Earnings reports. Limoneira had a negative net margin of 7.05% and a negative return on equity of 4.17%.

LMNR opened at $17.11 on Tuesday. The stock has a 50-day moving average price of $15.88 and a 200-day moving average price of $14.75. Limoneira has a 12-month low of $10.60 and a 12-month high of $21.85. The company has a current ratio of 1.78, a quick ratio of 1.58 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $304.83 million, a P/E ratio of -23.76, a PEG ratio of 5.62 and a beta of 1.04.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, December 28th will be issued a $0.075 dividend. This is a boost from Limoneira’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, December 24th. Limoneira’s dividend payout ratio is presently -66.67%.

In related news, CFO Mark Palamountain sold 5,850 shares of the stock in a transaction dated Wednesday, December 23rd. The stock was sold at an average price of $17.00, for a total transaction of $99,450.00. Following the completion of the sale, the chief financial officer now directly owns 63,787 shares in the company, valued at approximately $1,084,379. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Harold S. Edwards sold 9,000 shares of the stock in a transaction dated Wednesday, December 23rd. The shares were sold at an average price of $17.00, for a total value of $153,000.00. Following the sale, the chief executive officer now owns 164,611 shares of the company’s stock, valued at $2,798,387. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by corporate insiders.

A number of analysts recently issued reports on LMNR shares. Zacks Investment Research upgraded Limoneira from a “sell” rating to a “hold” rating in a research note on Friday, December 25th. BidaskClub upgraded Limoneira from a “sell” rating to a “hold” rating in a research note on Wednesday, December 23rd. Finally, TheStreet upgraded Limoneira from a “d+” rating to a “c-” rating in a research note on Tuesday, September 15th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Limoneira currently has a consensus rating of “Buy” and an average price target of $18.20.

About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through 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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