Limoneira (LMNR) Updates FY18 Earnings Guidance

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Limoneira (NASDAQ:LMNR) updated its FY18 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.50-0.52 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.66. The company issued revenue guidance of $129 million, compared to the consensus revenue estimate of $129.04 million.Limoneira also updated its FY 2018 guidance to $0.50-0.52 EPS.

Several equities analysts have weighed in on the company. Buckingham Research raised their target price on Limoneira from $30.00 to $32.00 and gave the company a buy rating in a report on Tuesday, September 11th. Zacks Investment Research upgraded Limoneira from a sell rating to a hold rating in a report on Wednesday, August 29th. ValuEngine upgraded Limoneira from a hold rating to a buy rating in a report on Tuesday, October 9th. Lake Street Capital set a $31.00 target price on Limoneira and gave the company a buy rating in a report on Tuesday, September 11th. Finally, BidaskClub lowered Limoneira from a sell rating to a strong sell rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Limoneira has an average rating of Hold and an average target price of $29.80.

Shares of NASDAQ:LMNR opened at $20.01 on Thursday. The stock has a market capitalization of $350.56 million, a PE ratio of 47.64, a price-to-earnings-growth ratio of 1.45 and a beta of 0.85. Limoneira has a 52-week low of $19.61 and a 52-week high of $33.42. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 0.99.

In other news, major shareholder Calavo Growers Inc sold 8,275 shares of the firm’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $23.84, for a total value of $197,276.00. Following the sale, the insider now directly owns 1,720,295 shares of the company’s stock, valued at $41,011,832.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.50% of the company’s stock.

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About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. The Fresh Lemons segment markets and sells lemons directly to food service, wholesale, and retail customers.

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