Wall Street brokerages forecast that Limoneira (NASDAQ:LMNR) will announce sales of $15.34 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Limoneira’s earnings. The highest sales estimate is $16.98 million and the lowest is $13.70 million. Limoneira reported sales of $15.93 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.7%. The business is expected to issue its next quarterly earnings report on Monday, January 14th.
On average, analysts expect that Limoneira will report full year sales of $129.98 million for the current fiscal year, with estimates ranging from $128.30 million to $131.66 million. For the next year, analysts expect that the company will report sales of $195.57 million, with estimates ranging from $182.44 million to $208.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Limoneira.
Limoneira (NASDAQ:LMNR) last posted its quarterly earnings data on Monday, September 10th. The company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). Limoneira had a net margin of 15.91% and a return on equity of 6.46%. The company had revenue of $39.95 million for the quarter, compared to the consensus estimate of $37.68 million.
LMNR has been the topic of a number of research analyst reports. Lake Street Capital set a $31.00 price objective on shares of Limoneira and gave the company a “buy” rating in a research note on Tuesday, September 11th. Buckingham Research increased their price objective on shares of Limoneira from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, September 11th. ValuEngine upgraded shares of Limoneira from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. BidaskClub downgraded shares of Limoneira from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 17th. Finally, Zacks Investment Research upgraded shares of Limoneira from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Limoneira presently has a consensus rating of “Buy” and an average price target of $29.50.
NASDAQ LMNR opened at $25.40 on Tuesday. Limoneira has a 12 month low of $19.62 and a 12 month high of $33.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 0.99. The firm has a market cap of $454.28 million, a price-to-earnings ratio of 60.48, a P/E/G ratio of 1.85 and a beta of 0.85.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 17th. Shareholders of record on Monday, October 8th were paid a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.98%. This is an increase from Limoneira’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Thursday, October 4th. Limoneira’s dividend payout ratio is 59.52%.
In other Limoneira news, Director John W.H. Merriman sold 2,200 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $28.01, for a total transaction of $61,622.00. Following the sale, the director now directly owns 1,218 shares of the company’s stock, valued at $34,116.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of LMNR. Dimensional Fund Advisors LP raised its holdings in shares of Limoneira by 20.8% during the first quarter. Dimensional Fund Advisors LP now owns 265,433 shares of the company’s stock worth $6,299,000 after purchasing an additional 45,723 shares during the period. Royal Bank of Canada raised its holdings in shares of Limoneira by 62.0% during the first quarter. Royal Bank of Canada now owns 13,333 shares of the company’s stock worth $316,000 after purchasing an additional 5,103 shares during the period. Essex Investment Management Co. LLC acquired a new stake in shares of Limoneira during the second quarter worth $244,000. Deprince Race & Zollo Inc. acquired a new stake in shares of Limoneira during the second quarter worth $5,533,000. Finally, Northpointe Capital LLC acquired a new stake in shares of Limoneira during the second quarter worth $3,156,000. 41.72% of the stock is currently owned by institutional investors.
Limoneira Company Profile
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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