Limoneira (NASDAQ:LMNR) Issues Quarterly Earnings Results

Limoneira (NASDAQ:LMNRGet Rating) issued its quarterly earnings results on Thursday. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.13, Fidelity Earnings reports. Limoneira had a negative return on equity of 0.95% and a negative net margin of 1.37%. During the same period in the previous year, the company earned $0.20 EPS.

Limoneira Trading Up 10.8 %

NASDAQ:LMNR opened at $13.36 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $236.74 million, a price-to-earnings ratio of -74.22 and a beta of 0.79. The firm has a fifty day simple moving average of $13.03 and a two-hundred day simple moving average of $13.04. Limoneira has a 12 month low of $10.44 and a 12 month high of $16.71.

Limoneira Increases Dividend

The company also recently disclosed a dividend, which was paid on Friday, July 8th. Stockholders of record on Monday, July 11th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, July 8th. This is a boost from Limoneira’s previous dividend of $0.05. Limoneira’s dividend payout ratio is -166.67%.

Insiders Place Their Bets

In other Limoneira news, CFO Mark Palamountain sold 4,000 shares of the firm’s stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $14.33, for a total value of $57,320.00. Following the completion of the sale, the chief financial officer now directly owns 54,345 shares in the company, valued at $778,763.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LMNR. Penserra Capital Management LLC grew its holdings in shares of Limoneira by 151.3% during the first quarter. Penserra Capital Management LLC now owns 6,062 shares of the company’s stock valued at $88,000 after buying an additional 3,650 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Limoneira during the first quarter valued at about $156,000. Cubist Systematic Strategies LLC bought a new position in shares of Limoneira during the second quarter valued at about $572,000. Royal Bank of Canada lifted its position in shares of Limoneira by 8.9% during the first quarter. Royal Bank of Canada now owns 57,109 shares of the company’s stock valued at $838,000 after purchasing an additional 4,673 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Limoneira by 6.0% during the first quarter. Gabelli Funds LLC now owns 59,482 shares of the company’s stock valued at $873,000 after purchasing an additional 3,348 shares in the last quarter. 43.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, upgraded Limoneira from a “sell” rating to a “hold” rating in a research report on Monday, June 13th.

Limoneira Company Profile

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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.

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Earnings History for Limoneira (NASDAQ:LMNR)

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