Brokerages Set Limoneira Co (NASDAQ:LMNR) PT at $18.50

Limoneira Co (NASDAQ:LMNR) has been assigned a consensus rating of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $18.50.

A number of research analysts recently issued reports on LMNR shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a report on Monday, December 29th. Lake Street Capital assumed coverage on shares of Limoneira in a research note on Wednesday, December 31st. They issued a “buy” rating and a $19.00 price objective on the stock. Finally, Zacks Research downgraded shares of Limoneira from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 31st.

Limoneira Trading Down 2.1%

Shares of NASDAQ:LMNR opened at $14.10 on Thursday. The firm has a market cap of $255.49 million, a P/E ratio of -15.16 and a beta of 0.39. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 0.40. Limoneira has a twelve month low of $12.20 and a twelve month high of $23.50. The company has a 50 day moving average of $13.97 and a 200-day moving average of $14.51.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings results on Tuesday, December 23rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.28). Limoneira had a negative net margin of 10.01% and a negative return on equity of 8.79%. The firm had revenue of $42.82 million for the quarter, compared to the consensus estimate of $35.35 million. During the same period in the previous year, the business posted ($0.09) earnings per share.

Limoneira Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Tuesday, December 30th were issued a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $0.30 annualized dividend and a dividend yield of 2.1%. Limoneira’s dividend payout ratio is currently -32.26%.

Insider Buying and Selling at Limoneira

In related news, Director Scott S. Slater bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 8th. The shares were acquired at an average cost of $12.85 per share, for a total transaction of $64,250.00. Following the acquisition, the director directly owned 64,447 shares of the company’s stock, valued at $828,143.95. The trade was a 8.41% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 8.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Limoneira

Hedge funds have recently modified their holdings of the stock. Peapod Lane Capital LLC purchased a new stake in shares of Limoneira in the 2nd quarter valued at approximately $1,927,000. Quinn Opportunity Partners LLC raised its stake in Limoneira by 5.2% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 180,357 shares of the company’s stock valued at $2,823,000 after purchasing an additional 8,987 shares during the period. Inspire Investing LLC lifted its holdings in shares of Limoneira by 28.0% in the second quarter. Inspire Investing LLC now owns 24,852 shares of the company’s stock valued at $389,000 after purchasing an additional 5,441 shares in the last quarter. Teton Advisors LLC acquired a new stake in shares of Limoneira in the third quarter worth $1,745,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Limoneira in the third quarter worth $151,000. 64.35% of the stock is owned by hedge funds and other institutional investors.

Limoneira Company Profile

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.