Limoneira (LMNR) To Go Ex-Dividend on December 30th

Limoneira (NASDAQ:LMNR) announced a quarterly dividend on Thursday, December 19th,Wall Street Journal reports. Stockholders of record on Monday, December 30th will be paid a dividend of 0.075 per share on Wednesday, January 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, December 30th.

Limoneira has a dividend payout ratio of 130.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Limoneira to earn $0.22 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 136.4%.

Limoneira Stock Up 2.5 %

Limoneira stock opened at $26.30 on Friday. Limoneira has a fifty-two week low of $17.37 and a fifty-two week high of $29.22. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.93 and a quick ratio of 0.84. The firm has a market capitalization of $474.77 million, a price-to-earnings ratio of 90.69 and a beta of 0.49. The company’s 50 day simple moving average is $27.03 and its 200 day simple moving average is $24.17.

Wall Street Analyst Weigh In

A number of analysts recently commented on LMNR shares. Lake Street Capital restated a “hold” rating and issued a $25.00 price objective on shares of Limoneira in a research report on Tuesday, September 10th. StockNews.com upgraded Limoneira from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, B. Riley lifted their price target on shares of Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.33.

Limoneira Company Profile

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, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.