Limoneira (NASDAQ:LMNR) Announces Earnings Results, Misses Estimates By $0.02 EPS

Limoneira (NASDAQ:LMNR) posted 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 return on equity of 3.09% and a negative net margin of 3.70%. During the same period in the previous year, the company posted ($0.42) EPS.

Shares of Limoneira stock traded down $0.02 during midday trading on Tuesday, hitting $15.96. The company had a trading volume of 1,192 shares, compared to its average volume of 29,332. 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 stock has a market capitalization of $282.25 million, a P/E ratio of -39.11, a P/E/G ratio of 3.23 and a beta of 1.03. The company has a 50 day moving average of $15.60 and a 200 day moving average of $16.29. Limoneira has a 52-week low of $14.16 and a 52-week high of $20.74.

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

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its position in Limoneira by 421.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,835 shares of the company’s stock valued at $62,000 after acquiring an additional 3,100 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Limoneira by 7.3% during the 3rd quarter. Invesco Ltd. now owns 24,627 shares of the company’s stock valued at $398,000 after buying an additional 1,682 shares during the period. Citadel Advisors LLC bought a new position in shares of Limoneira during the 2nd quarter valued at $478,000. Royal Bank of Canada lifted its holdings in shares of Limoneira by 2.8% during the 3rd quarter. Royal Bank of Canada now owns 54,060 shares of the company’s stock valued at $875,000 after buying an additional 1,492 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Limoneira by 9.0% during the 2nd quarter. Morgan Stanley now owns 103,049 shares of the company’s stock valued at $1,808,000 after buying an additional 8,536 shares during the period. 50.14% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research downgraded Limoneira from a “hold” rating to a “strong sell” rating in a report on Thursday, January 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from, the stock currently has a consensus rating of “Buy” and an average price target of $24.60.

Limoneira Company Profile

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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