Analysts Expect Limoneira (NASDAQ:LMNR) Will Post Quarterly Sales of $44.45 Million

Wall Street analysts predict that Limoneira (NASDAQ:LMNR) will post sales of $44.45 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Limoneira’s earnings, with the highest sales estimate coming in at $45.11 million and the lowest estimate coming in at $43.80 million. Limoneira posted sales of $42.02 million in the same quarter last year, which indicates a positive year over year growth rate of 5.8%. The firm is expected to report its next quarterly earnings report on Tuesday, March 10th.

According to Zacks, analysts expect that Limoneira will report full-year sales of $198.19 million for the current financial year, with estimates ranging from $190.49 million to $205.90 million. For the next financial year, analysts expect that the company will report sales of $223.70 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Limoneira.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings data on Monday, January 13th. The company reported ($0.24) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.24). The business had revenue of $36.48 million during the quarter, compared to analyst estimates of $24.78 million. Limoneira had a negative return on equity of 3.43% and a negative net margin of 3.47%.

LMNR has been the subject of a number of recent research reports. Zacks Investment Research lowered Limoneira from a “hold” rating to a “strong sell” rating in a research note on Wednesday. ValuEngine upgraded Limoneira from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 24th. National Securities reiterated a “buy” rating and set a $30.00 price objective on shares of Limoneira in a research note on Tuesday, January 14th. Finally, BidaskClub lowered Limoneira from a “buy” rating to a “hold” rating in a research note on Saturday, December 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $23.75.

In other news, CEO Harold S. Edwards sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $20.24, for a total transaction of $40,480.00. Insiders have sold a total of 6,300 shares of company stock worth $126,886 over the last 90 days. Insiders own 4.50% of the company’s stock.

Large investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new stake in shares of Limoneira during the 3rd quarter valued at about $1,104,000. First Trust Advisors LP boosted its holdings in Limoneira by 29.8% in the 3rd quarter. First Trust Advisors LP now owns 34,674 shares of the company’s stock worth $637,000 after buying an additional 7,963 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in Limoneira by 17.3% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 5,188 shares of the company’s stock worth $95,000 after buying an additional 764 shares during the last quarter. State Street Corp boosted its holdings in Limoneira by 0.7% in the 3rd quarter. State Street Corp now owns 280,139 shares of the company’s stock worth $5,143,000 after buying an additional 1,955 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Limoneira by 10.2% in the 3rd quarter. Rhumbline Advisers now owns 22,678 shares of the company’s stock worth $416,000 after buying an additional 2,104 shares during the last quarter. Hedge funds and other institutional investors own 54.95% of the company’s stock.

Shares of NASDAQ LMNR traded down $0.03 during trading on Tuesday, reaching $20.67. 58,731 shares of the company traded hands, compared to its average volume of 46,686. The firm’s fifty day simple moving average is $19.64 and its 200 day simple moving average is $19.12. The stock has a market cap of $369.29 million, a P/E ratio of -55.86, a PEG ratio of 3.51 and a beta of 1.05. Limoneira has a 12-month low of $17.05 and a 12-month high of $25.65. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.48.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Friday, December 27th. Limoneira’s dividend payout ratio (DPR) is presently -66.67%.

About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates in six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons.

Read More: Treasury Bonds

Get a free copy of the Zacks research report on Limoneira (LMNR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Limoneira Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Limoneira and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit