Limoneira (NASDAQ:LMNR) Posts Earnings Results, Beats Estimates By $0.03 EPS

Limoneira (NASDAQ:LMNRGet Rating) released its quarterly earnings results on Tuesday. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03, Fidelity Earnings reports. Limoneira had a negative net margin of 3.63% and a negative return on equity of 2.98%. During the same quarter in the previous year, the company posted $0.10 EPS.

NASDAQ LMNR traded up $0.03 during trading on Thursday, hitting $13.94. The company’s stock had a trading volume of 703 shares, compared to its average volume of 117,705. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.28 and a quick ratio of 1.14. Limoneira has a fifty-two week low of $10.44 and a fifty-two week high of $20.55. The business’s 50 day simple moving average is $12.19 and its 200-day simple moving average is $13.89.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Tuesday, April 5th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Monday, April 4th. Limoneira’s payout ratio is currently -78.95%.

In other news, Director Jose De Jesus Loza purchased 21,300 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The stock was purchased at an average cost of $12.80 per share, for a total transaction of $272,640.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.83% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in LMNR. Penserra Capital Management LLC purchased a new position in Limoneira during the fourth quarter worth $36,000. BNP Paribas Arbitrage SA increased its holdings in Limoneira by 421.8% in the third quarter. BNP Paribas Arbitrage SA now owns 3,835 shares of the company’s stock valued at $62,000 after buying an additional 3,100 shares during the last quarter. Citigroup Inc. increased its holdings in Limoneira by 123.1% in the fourth quarter. Citigroup Inc. now owns 3,994 shares of the company’s stock valued at $60,000 after buying an additional 2,204 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of Limoneira during the first quarter valued at approximately $156,000. Finally, Bank of America Corp DE grew its holdings in shares of Limoneira by 96.6% during the fourth quarter. Bank of America Corp DE now owns 18,791 shares of the company’s stock valued at $282,000 after purchasing an additional 9,235 shares during the last quarter. 47.03% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on LMNR. Lake Street Capital cut their price objective on Limoneira from $23.00 to $19.00 in a report on Friday, March 11th. Zacks Investment Research upgraded Limoneira from a “strong sell” rating to a “hold” rating in a report on Thursday, June 2nd. initiated coverage on Limoneira in a research report on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, Stifel Nicolaus cut their price objective on shares of Limoneira from $20.00 to $16.00 and set a “buy” rating for the company in a report on Monday, March 14th.

Limoneira Company Profile (Get Rating)

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, pistachios, and wine grapes.

See Also

Earnings History for Limoneira (NASDAQ:LMNR)

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