Limoneira (NASDAQ:LMNR) declared a quarterly dividend on Tuesday, March 24th, Zacks reports. Stockholders of record on Monday, April 6th will be paid a dividend of 0.075 per share on Friday, April 17th. This represents a $0.30 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Friday, April 3rd.
Limoneira has increased its dividend by an average of 9.7% per year over the last three years and has raised its dividend every year for the last 6 years. Limoneira has a payout ratio of 230.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Limoneira to earn $0.75 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 40.0%.
Shares of LMNR traded up $0.21 during mid-day trading on Thursday, hitting $14.00. 53,179 shares of the company’s stock were exchanged, compared to its average volume of 80,420. The company has a market cap of $246.26 million, a PE ratio of -30.43, a P/E/G ratio of 4.18 and a beta of 1.08. Limoneira has a 52 week low of $10.60 and a 52 week high of $24.77. The company has a 50-day simple moving average of $17.49 and a 200 day simple moving average of $18.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.41 and a quick ratio of 1.30.
Several equities analysts recently weighed in on LMNR shares. Stephens decreased their target price on shares of Limoneira from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. National Securities cut shares of Limoneira from a “buy” rating to a “neutral” rating in a research note on Thursday, March 12th. Roth Capital decreased their target price on shares of Limoneira from to in a research note on Thursday, March 12th. ValuEngine cut shares of Limoneira from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 4th. Finally, Lake Street Capital decreased their target price on shares of Limoneira from $23.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.60.
Limoneira Company Profile
Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates in six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons.
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