Limoneira Co (NASDAQ:LMNR) Plans Quarterly Dividend of $0.08

Limoneira Co (NASDAQ:LMNR - Get Free Report) announced a quarterly dividend on Tuesday, June 24th, RTT News reports. Shareholders of record on Monday, July 7th will be paid a dividend of 0.075 per share on Friday, July 18th. This represents a $0.30 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Monday, July 7th.

Limoneira has a dividend payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings.

Limoneira Stock Down 1.6%

LMNR stock traded down $0.26 during midday trading on Friday, reaching $15.86. 173,418 shares of the company's stock traded hands, compared to its average volume of 63,391. The company has a market cap of $286.59 million, a price-to-earnings ratio of -113.28 and a beta of 0.45. The firm's fifty day moving average price is $15.59 and its 200-day moving average price is $19.52. The company has a quick ratio of 0.94, a current ratio of 1.05 and a debt-to-equity ratio of 0.30. Limoneira has a 52 week low of $14.64 and a 52 week high of $29.22.

Limoneira (NASDAQ:LMNR - Get Free Report) last announced its quarterly earnings results on Monday, June 9th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.16). The business had revenue of $35.12 million for the quarter, compared to the consensus estimate of $38.70 million. Limoneira had a negative net margin of 0.96% and a negative return on equity of 0.90%. During the same quarter last year, the firm posted $0.44 EPS.

Limoneira announced that its board has initiated a stock buyback program on Monday, March 17th that permits the company to repurchase $30.00 million in shares. This repurchase authorization permits the company to buy up to 8.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Trading of Limoneira

A hedge fund recently bought a new stake in Limoneira stock. Jane Street Group LLC bought a new position in Limoneira Co (NASDAQ:LMNR - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 18,890 shares of the company's stock, valued at approximately $335,000. Jane Street Group LLC owned approximately 0.10% of Limoneira at the end of the most recent reporting period. Institutional investors own 64.35% of the company's stock.

Analyst Upgrades and Downgrades

LMNR has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Limoneira to a "sell" rating in a research note on Wednesday, April 9th. Lake Street Capital upgraded shares of Limoneira from a "hold" rating to a "buy" rating and set a $23.00 target price for the company in a research note on Tuesday, June 10th.

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.