Zacks: Brokerages Expect Limoneira (LMNR) Will Post Quarterly Sales of $15.34 Million

Analysts expect Limoneira (NASDAQ:LMNR) to announce $15.34 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Limoneira’s earnings, with the highest sales estimate coming in at $16.98 million and the lowest estimate coming in at $13.70 million. Limoneira reported sales of $15.93 million in the same quarter last year, which indicates a negative year-over-year growth rate of 3.7%. The company is scheduled to report its next earnings report on Monday, January 14th.

According to Zacks, analysts expect that Limoneira will report full year sales of $129.98 million for the current fiscal year, with estimates ranging from $128.30 million to $131.66 million. For the next financial year, analysts anticipate 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 an average based on a survey of sell-side analysts that that provide coverage for Limoneira.

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

Several equities research analysts recently commented on the company. ValuEngine raised Limoneira from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. BidaskClub raised Limoneira from a “buy” rating to a “strong-buy” rating in a report on Friday, June 22nd. Stephens assumed coverage on Limoneira in a report on Monday, June 25th. They set an “overweight” rating and a $30.00 target price on the stock. Zacks Investment Research cut Limoneira from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Finally, Stifel Nicolaus assumed coverage on Limoneira in a report on Thursday, June 28th. They set a “buy” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $29.50.

NASDAQ:LMNR traded up $0.39 during midday trading on Friday, hitting $25.68. 86,500 shares of the stock were exchanged, compared to its average volume of 85,597. Limoneira has a one year low of $19.62 and a one year high of $33.42. The stock has a market cap of $461.35 million, a price-to-earnings ratio of 59.93, a PEG ratio of 2.65 and a beta of 0.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.99 and a quick ratio of 0.81.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 17th. Shareholders of record on Monday, October 8th will be given a $0.0625 dividend. This is a positive change from Limoneira’s previous quarterly dividend of $0.05. The ex-dividend date is Thursday, October 4th. This represents a $0.25 annualized dividend and a yield of 0.97%. Limoneira’s payout ratio is 59.52%.

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 value of $61,622.00. Following the transaction, the director now owns 1,218 shares in the company, valued at $34,116.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of LMNR. Dimensional Fund Advisors LP grew its position in Limoneira by 20.8% in the first quarter. Dimensional Fund Advisors LP now owns 265,433 shares of the company’s stock worth $6,299,000 after buying an additional 45,723 shares during the last quarter. Royal Bank of Canada grew its position in Limoneira by 62.0% in the first quarter. Royal Bank of Canada now owns 13,333 shares of the company’s stock worth $316,000 after buying an additional 5,103 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in Limoneira in the second quarter worth approximately $244,000. Deprince Race & Zollo Inc. acquired a new position in Limoneira in the second quarter worth approximately $5,533,000. Finally, Northpointe Capital LLC acquired a new position in Limoneira in the second quarter worth approximately $3,156,000. Hedge funds and other institutional investors own 42.18% 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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