Limoneira (LMNR) Expected to Announce Quarterly Sales of $15.34 Million

Wall Street brokerages forecast that Limoneira (NASDAQ:LMNR) will announce $15.34 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Limoneira’s earnings, with estimates ranging from $13.70 million to $16.98 million. Limoneira posted sales of $15.93 million in the same quarter last year, which suggests a negative year over year growth rate of 3.7%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 14th.

On average, analysts expect that Limoneira will report full year sales of $129.98 million for the current financial year, with estimates ranging from $128.30 million to $131.66 million. For the next fiscal year, analysts forecast that the firm will report sales of $195.57 million, with estimates ranging from $182.44 million to $208.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Limoneira.

Limoneira (NASDAQ:LMNR) last announced its earnings results on Monday, September 10th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The company had revenue of $39.95 million during the quarter, compared to analysts’ expectations of $37.68 million. Limoneira had a net margin of 15.91% and a return on equity of 6.46%.

LMNR has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of Limoneira from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Lake Street Capital set a $31.00 target price on shares of Limoneira and gave the company a “buy” rating in a research note on Tuesday, September 11th. BidaskClub downgraded shares of Limoneira from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research raised shares of Limoneira from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, Buckingham Research raised their target price on shares of Limoneira from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, September 11th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $29.50.

LMNR traded down $0.18 on Thursday, reaching $24.14. The company had a trading volume of 41,136 shares, compared to its average volume of 57,100. The company has a market capitalization of $426.53 million, a P/E ratio of 57.48, a P/E/G ratio of 1.74 and a beta of 0.85. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.81. Limoneira has a 52-week low of $19.62 and a 52-week high of $33.42.

In other Limoneira news, Director John W.H. Merriman sold 2,200 shares of Limoneira stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $28.01, for a total transaction of $61,622.00. Following the transaction, the director now directly owns 1,218 shares of the company’s stock, valued at $34,116.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Stephens Inc. AR purchased a new position in shares of Limoneira during the second quarter worth approximately $2,296,000. Cortina Asset Management LLC purchased a new position in shares of Limoneira during the second quarter worth approximately $6,925,000. Dimensional Fund Advisors LP raised its stake in shares of Limoneira by 15.7% during the second quarter. Dimensional Fund Advisors LP now owns 307,014 shares of the company’s stock worth $7,556,000 after acquiring an additional 41,581 shares in the last quarter. EAM Investors LLC purchased a new position in shares of Limoneira during the third quarter worth approximately $744,000. Finally, First Wilshire Securities Management Inc. raised its stake in shares of Limoneira by 17.2% during the second quarter. First Wilshire Securities Management Inc. now owns 165,713 shares of the company’s stock worth $4,078,000 after acquiring an additional 24,326 shares in the last quarter. 49.38% of the stock is currently owned by hedge funds and other institutional investors.

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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