Limoneira (NASDAQ:LMNR) Releases Earnings Results, Misses Expectations By $0.02 EPS

Limoneira (NASDAQ:LMNR) released its earnings results on Sunday. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02), MarketWatch Earnings reports. Limoneira had a negative net margin of 3.70% and a negative return on equity of 3.09%. During the same period in the prior year, the business posted ($0.42) earnings per share.

LMNR stock opened at $15.98 on Tuesday. Limoneira has a fifty-two week low of $14.16 and a fifty-two week high of $20.74. The business’s 50 day moving average price is $15.60 and its two-hundred day moving average price is $16.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.95 and a current ratio of 1.12. The company has a market capitalization of $282.61 million, a price-to-earnings ratio of -42.05, a price-to-earnings-growth ratio of 3.23 and a beta of 1.03.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 14th. Shareholders of record on Monday, December 27th will be given a dividend of $0.075 per share. This is a positive change from Limoneira’s previous quarterly dividend of $0.05. The ex-dividend date is Thursday, December 23rd. This represents a $0.30 dividend on an annualized basis and a yield of 1.88%. Limoneira’s dividend payout ratio is presently -78.95%.

Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its holdings in shares of Limoneira by 421.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,835 shares of the company’s stock worth $62,000 after acquiring an additional 3,100 shares during the period. Invesco Ltd. grew its stake in shares of Limoneira by 7.3% in the 3rd quarter. Invesco Ltd. now owns 24,627 shares of the company’s stock worth $398,000 after buying an additional 1,682 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Limoneira in the 2nd quarter worth approximately $478,000. Royal Bank of Canada grew its stake in shares of Limoneira by 2.8% in the 3rd quarter. Royal Bank of Canada now owns 54,060 shares of the company’s stock worth $875,000 after buying an additional 1,492 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Limoneira by 9.0% in the 2nd quarter. Morgan Stanley now owns 103,049 shares of the company’s stock worth $1,808,000 after buying an additional 8,536 shares during the last quarter. Hedge funds and other institutional investors own 50.14% of the company’s stock.

Separately, Zacks Investment Research lowered Limoneira from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $24.60.

About Limoneira

Limoneira Co is an agribusiness and real estate development company, which engages in the innovation of agricultural citrus industry in California. It operates through the following three divisions: Agribusiness, Rental Operations, and Real Estate Development. The Agribusiness division is comprised of three operating segments: fresh lemons, lemon packing and other agribusiness, which includes avocados, oranges, specialty citrus and other crops.

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Earnings History for Limoneira (NASDAQ:LMNR)

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