Limoneira (NASDAQ:LMNR) Announces Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Limoneira (NASDAQ:LMNR) posted its quarterly earnings results on Wednesday. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.17), FiscalAI reports. The business had revenue of $43.81 million for the quarter, compared to the consensus estimate of $49.62 million. Limoneira had a negative return on equity of 13.94% and a negative net margin of 30.50%.

Limoneira Stock Performance

Shares of LMNR traded down $0.09 during midday trading on Wednesday, reaching $14.94. 82,037 shares of the stock were exchanged, compared to its average volume of 80,787. Limoneira has a twelve month low of $11.66 and a twelve month high of $15.55. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.61. The company has a market cap of $270.86 million, a P/E ratio of -6.55 and a beta of 0.32. The stock’s 50 day simple moving average is $13.72 and its 200 day simple moving average is $13.36.

Analysts Set New Price Targets

Several analysts have issued reports on LMNR shares. HC Wainwright lowered Limoneira to a “buy” rating in a research note on Wednesday, June 10th. Wall Street Zen raised Limoneira from a “strong sell” rating to a “sell” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a report on Wednesday, June 24th. Finally, Lake Street Capital reduced their price objective on shares of Limoneira from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.00.

Hedge Funds Weigh In On Limoneira

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in Limoneira by 64.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock valued at $27,000 after purchasing an additional 668 shares during the period. American Century Companies Inc. increased its holdings in shares of Limoneira by 3.8% during the second quarter. American Century Companies Inc. now owns 36,690 shares of the company’s stock worth $574,000 after purchasing an additional 1,359 shares during the period. Russell Investments Group Ltd. raised its position in shares of Limoneira by 5.7% in the third quarter. Russell Investments Group Ltd. now owns 25,614 shares of the company’s stock valued at $380,000 after buying an additional 1,380 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Limoneira by 3.3% in the fourth quarter. Advisors Asset Management Inc. now owns 56,794 shares of the company’s stock valued at $717,000 after buying an additional 1,814 shares during the period. Finally, MetLife Investment Management LLC grew its position in Limoneira by 45.0% during the fourth quarter. MetLife Investment Management LLC now owns 9,765 shares of the company’s stock worth $123,000 after buying an additional 3,029 shares in the last quarter. 64.35% of the stock is owned by institutional investors.

About Limoneira

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.