Limoneira Co (NASDAQ:LMNR) Stock Has Consensus Target Price of $16.50 According to Analysts

Key Points

• Analysts have a mixed outlook on Limoneira: The five analysts covering the stock give it a consensus “Hold” rating, with a one-year average price target of $16.50.
• Limoneira’s latest quarterly results missed expectations: earnings were $0.02 per share versus $0.19 forecast, while revenue was $43.81 million compared with an estimated $49.62 million.
• The shares opened at $10.52, near their 52-week low of $10.05; institutional investors own 64.35% of the company’s stock.

Limoneira Co (NASDAQ:LMNR - Get Free Report) has been given an average rating of "Hold" by the five analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $16.50.

A number of equities analysts have recently issued reports on LMNR shares. Freedom Broker started coverage on Limoneira in a report on Wednesday. They issued a "strong-buy" rating for the company. Zacks Research lowered Limoneira from a "hold" rating to a "strong sell" rating in a research note on Monday, October 12th. Weiss Ratings upgraded shares of Limoneira from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, October 9th. Wall Street Zen raised shares of Limoneira from a "strong sell" rating to a "sell" rating in a report on Saturday, September 5th. Finally, Lake Street Capital reduced their price target on shares of Limoneira from $18.00 to $16.50 and set a "buy" rating on the stock in a research report on Thursday, September 10th.

Hedge Funds Weigh In On Limoneira

Several institutional investors have recently bought and sold shares of LMNR. Trust Co. of Vermont bought a new position in shares of Limoneira in the second quarter valued at about $33,000. Leonteq Securities AG grew its holdings in Limoneira by 88.8% during the 1st quarter. Leonteq Securities AG now owns 3,386 shares of the company's stock worth $45,000 after acquiring an additional 1,593 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Limoneira during the 2nd quarter worth about $139,000. Everett Harris & Co. CA acquired a new stake in Limoneira in the 2nd quarter valued at about $155,000. Finally, Bank of America Corp DE bought a new position in shares of Limoneira in the second quarter worth about $166,000. Institutional investors own 64.35% of the company's stock.

Limoneira Price Performance

NASDAQ:LMNR opened at $10.52 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 1.51. The company has a 50-day moving average of $12.33 and a 200-day moving average of $13.16. Limoneira has a 52 week low of $10.05 and a 52 week high of $15.43. The company has a market capitalization of $190.75 million, a price-to-earnings ratio of -4.40 and a beta of 0.36.

Limoneira (NASDAQ:LMNR - Get Free Report) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.17). The business had revenue of $43.81 million during the quarter, compared to analyst estimates of $49.62 million. Limoneira had a negative return on equity of 13.91% and a negative net margin of 33.03%. As a group, equities research analysts anticipate that Limoneira will post -0.73 earnings per share for the current fiscal year.

About Limoneira

Limoneira Company is an agribusiness and real estate development company headquartered in Santa Paula, California. Founded in 1893, the company is one of the oldest and largest lemon producers in the United States and owns or manages agricultural land primarily in California and Arizona.

Limoneira grows, packs, markets and distributes lemons, avocados, oranges and other specialty citrus products. Its operations include orchard management, harvesting, packing and fresh-produce marketing, with products sold through retailers, foodservice providers and other commercial customers in the United States and international markets.

In addition to its agricultural activities, Limoneira owns land and pursues real estate development projects connected to its properties.

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