Limoneira (NASDAQ:LMNR) Issues Earnings Results

Key Points

• Limoneira missed quarterly expectations: The company reported EPS of $0.02 versus the $0.19 consensus estimate and revenue of $43.81 million versus $49.62 million expected. It posted a negative net margin of 30.50% and negative return on equity of 13.94%.
• Shares declined 0.6% to $14.94 following the results, though the stock remains near its 52-week high of $15.55. Institutional investors own 64.35% of the company.
• Analyst sentiment is mixed: Limoneira has an average “Hold” rating and an $18.00 average price target, with three Buy ratings, two Holds and one Sell.

Limoneira (NASDAQ:LMNR - Get Free Report) issued its earnings results on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.17), FiscalAI reports. The business had revenue of $43.81 million during the quarter, compared to the consensus estimate of $49.62 million. Limoneira had a negative net margin of 30.50% and a negative return on equity of 13.94%.

Limoneira Stock Down 0.6%

LMNR traded down $0.09 during trading on Wednesday, hitting $14.94. The company had a trading volume of 82,037 shares, compared to its average volume of 80,787. The company has a market capitalization of $270.86 million, a PE ratio of -6.55 and a beta of 0.32. The firm's 50-day moving average price is $13.72 and its 200 day moving average price is $13.36. Limoneira has a one year low of $11.66 and a one year high of $15.55. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.61.

Institutional Trading of Limoneira

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its position in Limoneira by 7.9% in the fourth quarter. Russell Investments Group Ltd. now owns 27,642 shares of the company's stock valued at $349,000 after purchasing an additional 2,028 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Limoneira by 26.8% during the 4th quarter. Wells Fargo & Company MN now owns 28,778 shares of the company's stock worth $363,000 after buying an additional 6,085 shares during the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Limoneira in the 3rd quarter valued at about $235,000. Walleye Capital LLC bought a new position in shares of Limoneira in the 2nd quarter valued at about $220,000. Finally, Jane Street Group LLC acquired a new stake in shares of Limoneira in the first quarter valued at about $335,000. 64.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LMNR has been the topic of a number of analyst reports. Weiss Ratings reissued a "sell (d)" rating on shares of Limoneira in a research note on Wednesday, June 24th. HC Wainwright cut shares of Limoneira to a "buy" rating in a report on Wednesday, June 10th. Lake Street Capital lowered their target price on shares of Limoneira from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Wednesday, June 10th. Finally, Wall Street Zen upgraded shares of Limoneira from a "strong sell" rating to a "sell" rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Limoneira has an average rating of "Hold" and an average target price of $18.00.

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.

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