Limoneira (LMNR) Expected to Announce Quarterly Sales of $44.74 Million

Equities research analysts forecast that Limoneira (NASDAQ:LMNR) will announce $44.74 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Limoneira’s earnings, with the lowest sales estimate coming in at $44.28 million and the highest estimate coming in at $45.20 million. Limoneira posted sales of $31.59 million during the same quarter last year, which indicates a positive year over year growth rate of 41.6%. The firm is expected to issue its next earnings results on Thursday, March 14th.

On average, analysts expect that Limoneira will report full year sales of $197.53 million for the current fiscal year, with estimates ranging from $197.00 million to $198.06 million. For the next fiscal year, analysts forecast that the firm will post sales of $242.84 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Limoneira.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings results on Monday, January 14th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Limoneira had a return on equity of 4.32% and a net margin of 15.60%. The company had revenue of $14.71 million for the quarter, compared to analysts’ expectations of $16.69 million.

A number of research analysts have commented on the company. Roth Capital set a $28.00 price target on Limoneira and gave the stock a “buy” rating in a research note on Thursday, December 20th. BidaskClub cut Limoneira from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 18th. ValuEngine cut Limoneira from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. Zacks Investment Research cut Limoneira from a “hold” rating to a “strong sell” rating in a research note on Saturday, December 22nd. Finally, Stephens assumed coverage on Limoneira in a research note on Tuesday, January 8th. They set an “overweight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $29.50.

In other news, major shareholder Calavo Growers Inc sold 8,275 shares of the stock in a transaction on 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 in the company, valued at $41,011,832.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in Limoneira in the third quarter valued at $3,333,000. Renaissance Technologies LLC raised its stake in Limoneira by 22.1% in the third quarter. Renaissance Technologies LLC now owns 79,600 shares of the company’s stock valued at $2,078,000 after buying an additional 14,400 shares in the last quarter. EAM Investors LLC acquired a new stake in Limoneira in the third quarter valued at $744,000. Dimensional Fund Advisors LP raised its stake in Limoneira by 15.7% in the second quarter. Dimensional Fund Advisors LP now owns 307,014 shares of the company’s stock valued at $7,556,000 after buying an additional 41,581 shares in the last quarter. Finally, Ashford Capital Management Inc. acquired a new stake in Limoneira in the third quarter valued at $13,799,000. Institutional investors and hedge funds own 51.02% of the company’s stock.

NASDAQ:LMNR traded down $0.05 during trading hours on Wednesday, reaching $23.05. 53,703 shares of the stock were exchanged, compared to its average volume of 89,807. The company has a quick ratio of 0.95, a current ratio of 1.15 and a debt-to-equity ratio of 0.35. Limoneira has a twelve month low of $18.07 and a twelve month high of $33.42. The stock has a market capitalization of $410.37 million, a price-to-earnings ratio of 46.10, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st were paid a $0.075 dividend. This is a boost from Limoneira’s previous quarterly dividend of $0.06. This represents a $0.30 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, December 28th. Limoneira’s dividend payout ratio (DPR) is presently 60.00%.

Limoneira Company Profile

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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