Zacks: Analysts Expect Limoneira (NASDAQ:LMNR) Will Post Earnings of $0.41 Per Share

Analysts expect that Limoneira (NASDAQ:LMNR) will announce earnings per share of $0.41 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Limoneira’s earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.38. Limoneira posted earnings per share of $0.50 during the same quarter last year, which would suggest a negative year over year growth rate of 18%. The firm is scheduled to report its next quarterly earnings report on Monday, September 9th.

On average, analysts expect that Limoneira will report full year earnings of $0.28 per share for the current financial year, with EPS estimates ranging from $0.27 to $0.30. For the next fiscal year, analysts expect that the company will report earnings of $0.86 per share, with EPS estimates ranging from $0.75 to $0.95. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Limoneira.

Limoneira (NASDAQ:LMNR) last announced its quarterly earnings data on Monday, June 10th. The company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.02. Limoneira had a negative return on equity of 0.26% and a net margin of 2.22%. The company had revenue of $42.04 million for the quarter, compared to analyst estimates of $43.54 million.

A number of equities research analysts have weighed in on the company. Lake Street Capital reaffirmed a “buy” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Limoneira in a report on Thursday, June 13th. Stephens reaffirmed a “buy” rating and issued a $27.00 price objective on shares of 8X8 in a report on Tuesday, May 14th. ValuEngine raised Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. BidaskClub raised Zumiez from a “sell” rating to a “hold” rating in a report on Saturday, June 22nd. Finally, Zacks Investment Research lowered HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.75.

Several hedge funds have recently bought and sold shares of the company. Global Alpha Capital Management Ltd. lifted its position in shares of Limoneira by 27.9% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 1,134,706 shares of the company’s stock valued at $26,700,000 after acquiring an additional 247,856 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Limoneira by 11.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 536,126 shares of the company’s stock worth $10,481,000 after purchasing an additional 54,730 shares during the last quarter. Ashford Capital Management Inc. raised its position in shares of Limoneira by 0.4% during the 4th quarter. Ashford Capital Management Inc. now owns 530,689 shares of the company’s stock worth $10,375,000 after purchasing an additional 2,185 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in shares of Limoneira by 102.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 431,031 shares of the company’s stock worth $8,427,000 after purchasing an additional 218,514 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Limoneira by 1.8% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 230,000 shares of the company’s stock worth $5,412,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors own 54.05% of the company’s stock.

LMNR traded down $0.12 during trading on Friday, reaching $18.92. The company’s stock had a trading volume of 29,185 shares, compared to its average volume of 58,751. Limoneira has a 52-week low of $18.07 and a 52-week high of $33.42. The firm has a fifty day moving average of $19.46. The company has a market capitalization of $336.27 million, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 4.45 and a beta of 1.07. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.96.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Monday, July 8th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.59%. This is an increase from Limoneira’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, July 5th. Limoneira’s dividend payout ratio (DPR) is presently 60.00%.

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.

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