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

Limoneira Co (NASDAQ:LMNR) has been assigned a consensus recommendation of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to 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.

LMNR has been the subject of several recent analyst reports. Zacks Research lowered Limoneira from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 31st. Lake Street Capital initiated coverage on shares of Limoneira in a research note on Wednesday, December 31st. They set a “buy” rating and a $19.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Limoneira in a research note on Monday, December 29th.

Insider Activity at Limoneira

In related news, Director Scott S. Slater purchased 5,000 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were purchased at an average price of $12.85 per share, with a total value of $64,250.00. Following the acquisition, the director directly owned 64,447 shares in the company, valued at $828,143.95. The trade was a 8.41% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.85% of the company’s stock.

Institutional Investors Weigh In On Limoneira

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMNR. Geode Capital Management LLC boosted its position in shares of Limoneira by 5.6% in the second quarter. Geode Capital Management LLC now owns 397,720 shares of the company’s stock worth $6,226,000 after purchasing an additional 20,913 shares during the period. Gamco Investors INC. ET AL increased its stake in Limoneira by 14.1% in the 3rd quarter. Gamco Investors INC. ET AL now owns 253,200 shares of the company’s stock worth $3,760,000 after buying an additional 31,200 shares in the last quarter. Riverwater Partners LLC raised its holdings in Limoneira by 1.7% during the third quarter. Riverwater Partners LLC now owns 244,006 shares of the company’s stock valued at $3,623,000 after acquiring an additional 4,043 shares during the period. Peapod Lane Capital LLC lifted its position in shares of Limoneira by 44.5% in the fourth quarter. Peapod Lane Capital LLC now owns 208,547 shares of the company’s stock valued at $2,633,000 after acquiring an additional 64,178 shares in the last quarter. Finally, Quinn Opportunity Partners LLC boosted its stake in shares of Limoneira by 5.2% in the second quarter. Quinn Opportunity Partners LLC now owns 180,357 shares of the company’s stock worth $2,823,000 after acquiring an additional 8,987 shares during the period. Hedge funds and other institutional investors own 64.35% of the company’s stock.

Limoneira Stock Performance

Shares of LMNR opened at $14.36 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.35 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average price is $13.93 and its 200-day moving average price is $14.55. Limoneira has a 52 week low of $12.20 and a 52 week high of $23.50. The stock has a market cap of $260.20 million, a P/E ratio of -15.44 and a beta of 0.39.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings data on Tuesday, December 23rd. The company reported ($0.45) earnings per share 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 company had revenue of $42.82 million for the quarter, compared to the consensus estimate of $35.35 million. During the same period last year, the business earned ($0.09) EPS.

Limoneira Dividend Announcement

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

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.