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

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

Limoneira stock opened at $13.91 on Thursday. The firm has a 50 day moving average of $12.19 and a 200 day moving average of $13.89. Limoneira has a 12-month low of $10.44 and a 12-month high of $20.55. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.28 and a quick ratio of 1.14.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Tuesday, April 5th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, April 4th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.16%. Limoneira’s dividend payout ratio (DPR) is currently -78.95%.

LMNR has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Limoneira from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 2nd. StockNews.com assumed coverage on Limoneira in a report on Thursday, March 31st. They set a “sell” rating on the stock. Lake Street Capital decreased their price objective on Limoneira from $23.00 to $19.00 in a report on Friday, March 11th. Finally, Stifel Nicolaus cut their price target on Limoneira from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, March 14th.

In related news, Director Jose De Jesus Loza acquired 21,300 shares of Limoneira stock in a transaction on Monday, March 14th. The shares were bought at an average cost of $12.80 per share, with a total value of $272,640.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.83% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC boosted its stake in shares of Limoneira by 81.1% in the fourth quarter. Parametric Portfolio Associates LLC now owns 29,766 shares of the company’s stock worth $446,000 after buying an additional 13,330 shares during the last quarter. Invesco Ltd. grew its position in shares of Limoneira by 7.3% in the third quarter. Invesco Ltd. now owns 24,627 shares of the company’s stock valued at $398,000 after purchasing an additional 1,682 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Limoneira by 106.0% in the 4th quarter. Wells Fargo & Company MN now owns 24,011 shares of the company’s stock worth $361,000 after acquiring an additional 12,354 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Limoneira by 95.4% during the fourth quarter. JPMorgan Chase & Co. now owns 21,694 shares of the company’s stock worth $325,000 after purchasing an additional 10,593 shares during the period. Finally, Barclays PLC grew its position in Limoneira by 197.0% in the fourth quarter. Barclays PLC now owns 19,043 shares of the company’s stock worth $286,000 after acquiring an additional 12,631 shares during the period. 47.03% of the stock is owned by hedge funds and other institutional investors.

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.

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Earnings History for Limoneira (NASDAQ:LMNR)

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