Limoneira Co (NASDAQ:LMNR) Receives Consensus Rating of “Hold” from Brokerages

Shares of Limoneira Co (NASDAQ:LMNR) have received a consensus rating of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.50.

LMNR has been the subject of several research analyst reports. Stephens started coverage on Limoneira in a research report on Friday, September 12th. They set an “equal weight” rating and a $18.00 target price for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a research note on Monday. Zacks Research upgraded shares of Limoneira from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Roth Capital restated a “buy” rating on shares of Limoneira in a research note on Monday, September 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Peapod Lane Capital LLC bought a new position in shares of Limoneira during the second quarter valued at approximately $1,927,000. Teton Advisors LLC bought a new stake in Limoneira during the 3rd quarter valued at $1,745,000. Qube Research & Technologies Ltd increased its holdings in shares of Limoneira by 515.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 74,124 shares of the company’s stock valued at $1,160,000 after acquiring an additional 62,080 shares during the period. Nuveen LLC purchased a new position in shares of Limoneira in the 1st quarter valued at $1,028,000. Finally, JPMorgan Chase & Co. raised its position in shares of Limoneira by 248.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 44,238 shares of the company’s stock worth $692,000 after acquiring an additional 31,552 shares in the last quarter. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Limoneira Stock Down 3.8%

Shares of NASDAQ:LMNR opened at $13.86 on Wednesday. The firm has a market capitalization of $250.17 million, a PE ratio of -25.20 and a beta of 0.41. The business has a 50 day simple moving average of $14.11 and a two-hundred day simple moving average of $14.95. Limoneira has a 1 year low of $12.69 and a 1 year high of $25.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.80 and a quick ratio of 1.66.

Limoneira Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Tuesday, December 30th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, December 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.2%. Limoneira’s dividend payout ratio is presently -54.55%.

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.