Limoneira (NASDAQ:LMNR) Announces Earnings Results, Misses Expectations By $0.09 EPS

Limoneira (NASDAQ:LMNR) released its quarterly earnings results on Thursday. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.09), FiscalAI reports. The business had revenue of $18.21 million for the quarter, compared to analyst estimates of $16.22 million. Limoneira had a negative net margin of 10.01% and a negative return on equity of 8.79%.

Limoneira Trading Up 0.6%

Limoneira stock traded up $0.08 during mid-day trading on Thursday, hitting $13.78. The stock had a trading volume of 71,865 shares, compared to its average volume of 68,083. The stock has a 50-day simple moving average of $14.00 and a two-hundred day simple moving average of $14.31. The stock has a market capitalization of $249.83 million, a PE ratio of -14.82 and a beta of 0.40. Limoneira has a 12 month low of $12.20 and a 12 month high of $21.39. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 0.40.

Limoneira Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Tuesday, December 30th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, December 30th. Limoneira’s dividend payout ratio is -32.26%.

Analyst Ratings Changes

A number of analysts have recently weighed in on LMNR shares. Zacks Research upgraded Limoneira from a “strong sell” rating to a “hold” rating in a research note on Friday, February 27th. Lake Street Capital began coverage on shares of Limoneira in a report on Wednesday, December 31st. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Limoneira in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.50.

Insiders Place Their Bets

In other Limoneira news, Director Scott S. Slater bought 5,000 shares of the business’s stock in a transaction on Thursday, January 8th. The shares were bought at an average cost of $12.85 per share, for a total transaction of $64,250.00. Following the transaction, the director owned 64,447 shares in the company, valued at approximately $828,143.95. This trade represents a 8.41% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.17% of the company’s stock.

Institutional Investors Weigh In On Limoneira

Several institutional investors have recently modified their holdings of LMNR. BNP Paribas Financial Markets raised its stake in shares of Limoneira by 64.8% during the second quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company’s stock worth $27,000 after buying an additional 668 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Limoneira by 45.0% during the 4th quarter. MetLife Investment Management LLC now owns 9,765 shares of the company’s stock worth $123,000 after acquiring an additional 3,029 shares during the period. Envestnet Asset Management Inc. acquired a new stake in Limoneira during the 3rd quarter worth $151,000. EntryPoint Capital LLC bought a new stake in shares of Limoneira during the 4th quarter valued at $150,000. Finally, Beartown Capital Management LLC acquired a new position in shares of Limoneira in the 4th quarter valued at $163,000. Institutional investors and hedge funds own 64.35% of the company’s stock.

About Limoneira

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.