Brokerages Expect Limoneira (LMNR) to Announce -$0.19 Earnings Per Share

Wall Street brokerages expect Limoneira (NASDAQ:LMNR) to post earnings of ($0.19) per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Limoneira’s earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.20). Limoneira also posted earnings per share of ($0.19) in the same quarter last year. The company is expected to report its next earnings results on Monday, January 14th.

On average, analysts expect that Limoneira will report full-year earnings of $0.66 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $0.67. For the next year, analysts forecast that the business will post earnings of $0.93 per share, with EPS estimates ranging from $0.91 to $0.95. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Limoneira.

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

A number of equities research analysts recently weighed in on the stock. BidaskClub lowered shares of Limoneira from a “buy” rating to a “hold” rating in a report on Thursday, November 29th. ValuEngine cut shares of Limoneira from a “buy” rating to a “hold” rating in a research note on Friday. 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. Zacks Investment Research raised shares of Limoneira from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. Finally, Buckingham Research upped their target price on shares of Limoneira from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Limoneira has an average rating of “Buy” and an average price target of $29.50.

LMNR stock traded down $0.96 during trading on Tuesday, hitting $22.90. 69,300 shares of the company’s stock traded hands, compared to its average volume of 83,665. The firm has a market capitalization of $426.54 million, a P/E ratio of 54.52, a price-to-earnings-growth ratio of 1.74 and a beta of 0.85. The company has a quick ratio of 0.81, a current ratio of 0.99 and a debt-to-equity ratio of 0.31. Limoneira has a 52 week low of $19.62 and a 52 week high of $33.42.

In related news, Director John W.H. Merriman sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was 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 approximately $34,116.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Atlas Capital Advisors LLC bought a new position in shares of Limoneira in the third quarter worth $108,000. Bank of Montreal Can lifted its holdings in shares of Limoneira by 6,740.2% during the third quarter. Bank of Montreal Can now owns 5,951 shares of the company’s stock valued at $155,000 after purchasing an additional 5,864 shares during the last quarter. MetLife Investment Advisors LLC lifted its stake in Limoneira by 56.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 9,690 shares of the company’s stock worth $253,000 after acquiring an additional 3,481 shares in the last quarter. Trexquant Investment LP acquired a new position in Limoneira in the 2nd quarter worth about $285,000. Finally, Royal Bank of Canada increased its position in Limoneira by 62.0% in the 1st quarter. Royal Bank of Canada now owns 13,333 shares of the company’s stock worth $316,000 after purchasing an additional 5,103 shares during the last quarter. Hedge funds and other institutional investors own 50.29% of the company’s stock.

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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