Limoneira (LMNR) Expected to Post Quarterly Sales of $61.43 Million

Analysts predict that Limoneira (NASDAQ:LMNR) will post sales of $61.43 million for the current quarter, according to Zacks. Two analysts have issued estimates for Limoneira’s earnings. The highest sales estimate is $61.66 million and the lowest is $61.20 million. Limoneira posted sales of $43.14 million during the same quarter last year, which suggests a positive year-over-year growth rate of 42.4%. The firm is expected to report its next earnings report on Monday, June 10th.

On average, analysts expect that Limoneira will report full-year sales of $195.94 million for the current fiscal year, with estimates ranging from $192.80 million to $199.09 million. For the next year, analysts anticipate that the company will post sales of $242.84 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Limoneira.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.05). Limoneira had a net margin of 4.91% and a return on equity of 3.73%. The business had revenue of $42.02 million during the quarter, compared to analysts’ expectations of $44.74 million.

A number of research analysts recently issued reports on the stock. Roth Capital set a $28.00 price target on shares of Limoneira and gave the stock a “buy” rating in a research note on Thursday, December 20th. ValuEngine downgraded shares of Limoneira from a “buy” rating to a “hold” rating in a research note on Saturday, March 30th. BidaskClub downgraded shares of Limoneira from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 18th. Zacks Investment Research downgraded shares of Limoneira from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 21st. Finally, Stephens assumed coverage on shares of Limoneira in a research note on Tuesday, January 8th. They issued an “overweight” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $30.20.

Shares of Limoneira stock opened at $23.77 on Tuesday. Limoneira has a 52-week low of $18.07 and a 52-week high of $33.42. The company has a quick ratio of 1.28, a current ratio of 1.38 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $422.39 million, a P/E ratio of 47.54, a PEG ratio of 2.07 and a beta of 0.99.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Monday, April 8th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $0.30 dividend on an annualized basis and a yield of 1.26%. Limoneira’s payout ratio is currently 60.00%.

In other Limoneira news, Director Robert M. Sawyer sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $24.28, for a total transaction of $30,350.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John W.H. Merriman sold 1,811 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $24.09, for a total transaction of $43,626.99. Following the sale, the director now directly owns 2,011 shares in the company, valued at approximately $48,444.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,672 shares of company stock worth $113,205. 4.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Limoneira by 71.9% during the third quarter. BlackRock Inc. now owns 1,208,848 shares of the company’s stock worth $31,564,000 after purchasing an additional 505,647 shares in the last quarter. Global Alpha Capital Management Ltd. raised its holdings in Limoneira by 4.9% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 886,850 shares of the company’s stock worth $17,338,000 after purchasing an additional 41,400 shares in the last quarter. Vanguard Group Inc raised its holdings in Limoneira by 8.3% during the third quarter. Vanguard Group Inc now owns 644,144 shares of the company’s stock worth $16,819,000 after purchasing an additional 49,127 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Limoneira by 8.3% in the 3rd quarter. Vanguard Group Inc. now owns 644,144 shares of the company’s stock valued at $16,819,000 after acquiring an additional 49,127 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Limoneira by 11.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 536,126 shares of the company’s stock valued at $10,481,000 after acquiring an additional 54,730 shares during the period. 51.13% of the stock is currently owned by institutional investors.

Limoneira Company Profile

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.

Featured Article: What is the Ex-Dividend Date in Investing?

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.