Brokerages Anticipate Limoneira (LMNR) Will Announce Quarterly Sales of $37.68 Million

Wall Street brokerages predict that Limoneira (NASDAQ:LMNR) will post sales of $37.68 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Limoneira’s earnings, with the highest sales estimate coming in at $38.76 million and the lowest estimate coming in at $36.60 million. Limoneira posted sales of $40.40 million during the same quarter last year, which would suggest a negative year over year growth rate of 6.7%. The business is scheduled to issue its next quarterly earnings results on Monday, September 10th.

On average, analysts expect that Limoneira will report full year sales of $127.17 million for the current financial year, with estimates ranging from $125.00 million to $129.33 million. For the next fiscal year, analysts expect that the business will report sales of $169.59 million per share, with estimates ranging from $134.20 million to $204.99 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Limoneira.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings results on Monday, June 11th. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.02. The business had revenue of $43.14 million during the quarter, compared to the consensus estimate of $41.70 million. Limoneira had a return on equity of 7.15% and a net margin of 15.53%.



A number of research firms recently commented on LMNR. Zacks Investment Research downgraded Limoneira from a “buy” rating to a “hold” rating in a research note on Tuesday, May 15th. Stifel Nicolaus began coverage on Limoneira in a research note on Thursday, June 28th. They issued a “buy” rating and a $30.00 price target for the company. BidaskClub raised Limoneira from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 22nd. Stephens began coverage on Limoneira in a research note on Monday, June 25th. They issued an “overweight” rating and a $30.00 price target for the company. Finally, ValuEngine raised Limoneira from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $29.00.

Limoneira traded down $0.55, reaching $29.09, during midday trading on Friday, Marketbeat reports. The company had a trading volume of 43,958 shares, compared to its average volume of 166,552. The company has a market cap of $523.72 million, a PE ratio of 43.59, a price-to-earnings-growth ratio of 2.88 and a beta of 0.86. Limoneira has a 1-year low of $19.62 and a 1-year high of $30.08. The company has a quick ratio of 0.90, a current ratio of 0.98 and a debt-to-equity ratio of 0.69.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 18th. Shareholders of record on Monday, July 9th were paid a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, July 6th. Limoneira’s payout ratio is 59.52%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Stephens Inc. AR acquired a new position in Limoneira during the second quarter worth about $2,296,000. Cortina Asset Management LLC acquired a new position in Limoneira during the second quarter worth about $6,925,000. Dimensional Fund Advisors LP raised its stake in Limoneira by 15.7% during the second quarter. Dimensional Fund Advisors LP now owns 307,014 shares of the company’s stock worth $7,556,000 after acquiring an additional 41,581 shares in the last quarter. BlackRock Inc. raised its stake in Limoneira by 5.2% during the second quarter. BlackRock Inc. now owns 703,201 shares of the company’s stock worth $17,306,000 after acquiring an additional 34,577 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Limoneira by 20.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 62,383 shares of the company’s stock worth $1,536,000 after acquiring an additional 10,799 shares in the last quarter. 27.37% of the stock is owned by hedge funds and other institutional investors.

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. The Fresh Lemons segment markets and sells lemons directly to food service, wholesale, and retail customers.

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