Limoneira (NASDAQ:LMNR) Downgraded to “Sell” at StockNews.com

StockNews.com downgraded shares of Limoneira (NASDAQ:LMNR) from a hold rating to a sell rating in a research note published on Saturday.

Several other equities analysts have also issued reports on the stock. TheStreet lowered shares of Limoneira from a b- rating to a c+ rating in a report on Tuesday, January 30th. Roth Mkm boosted their price target on Limoneira from $17.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, January 2nd.

Limoneira Price Performance

Shares of LMNR stock opened at $19.78 on Friday. Limoneira has a twelve month low of $13.88 and a twelve month high of $21.62. The company has a current ratio of 0.92, a quick ratio of 0.84 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $19.02 and a two-hundred day simple moving average of $17.89. The stock has a market capitalization of $356.04 million, a price-to-earnings ratio of -34.10, a P/E/G ratio of 10.18 and a beta of 0.55.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. The company had revenue of $39.73 million during the quarter, compared to analyst estimates of $39.07 million. Limoneira had a negative net margin of 5.40% and a negative return on equity of 1.16%. During the same period in the prior year, the firm earned ($0.53) earnings per share. On average, analysts predict that Limoneira will post 0.13 EPS for the current fiscal year.

Limoneira Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Thursday, March 28th. Limoneira’s payout ratio is currently -51.72%.

Hedge Funds Weigh In On Limoneira

A number of large investors have recently made changes to their positions in LMNR. Bfsg LLC purchased a new position in Limoneira during the 4th quarter worth $36,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Limoneira during the third quarter worth about $64,000. SG Americas Securities LLC acquired a new position in shares of Limoneira during the third quarter valued at about $117,000. Bulldog Investors LLP acquired a new position in shares of Limoneira during the fourth quarter valued at about $413,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Limoneira in the 3rd quarter valued at approximately $419,000. 64.35% of the stock is owned by institutional investors and hedge funds.

About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.