Limoneira Plans Quarterly Dividend of $0.08 (NASDAQ:LMNR)

Limoneira (NASDAQ:LMNR) announced a quarterly dividend on Tuesday, March 19th, Zacks reports. Investors of record on Monday, April 1st will be paid a dividend of 0.075 per share on Friday, April 12th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, March 28th.

Limoneira has a payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Limoneira to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 68.2%.

Limoneira Price Performance

Shares of NASDAQ:LMNR traded down $0.02 on Tuesday, reaching $19.34. The company’s stock had a trading volume of 7,560 shares, compared to its average volume of 40,713. The company has a 50-day simple moving average of $18.44 and a 200 day simple moving average of $17.09. The company has a market cap of $348.12 million, a P/E ratio of -33.10, a PEG ratio of 9.92 and a beta of 0.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.84 and a current ratio of 0.92. Limoneira has a 52-week low of $13.88 and a 52-week high of $21.62.

Limoneira (NASDAQ:LMNR) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.05. Limoneira had a negative return on equity of 1.16% and a negative net margin of 5.40%. The firm had revenue of $39.73 million for the quarter, compared to analysts’ expectations of $39.07 million. During the same period last year, the business posted ($0.53) earnings per share. As a group, equities research analysts anticipate that Limoneira will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LMNR. BlackRock Inc. increased its position in shares of Limoneira by 286.5% during the second quarter. BlackRock Inc. now owns 1,048,456 shares of the company’s stock worth $16,314,000 after purchasing an additional 777,178 shares in the last quarter. Vanguard Group Inc. boosted its position in Limoneira by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 913,393 shares of the company’s stock valued at $18,843,000 after purchasing an additional 19,802 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Limoneira by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 638,302 shares of the company’s stock valued at $10,634,000 after purchasing an additional 19,885 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Limoneira by 123.2% in the 2nd quarter. Geode Capital Management LLC now owns 321,863 shares of the company’s stock valued at $5,008,000 after buying an additional 177,676 shares in the last quarter. Finally, Millennium Management LLC bought a new position in Limoneira in the 2nd quarter valued at about $3,862,000. 64.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LMNR has been the topic of a number of research analyst reports. Roth Mkm increased their target price on Limoneira from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd. TheStreet downgraded shares of Limoneira from a “b-” rating to a “c+” rating in a research report on Tuesday, January 30th.

Limoneira Company Profile

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, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.