Limoneira Co (NASDAQ:LMNR) Announces $0.08 Quarterly Dividend

Limoneira Co (NASDAQ:LMNR - Get Free Report) declared a quarterly dividend on Wednesday, June 25th, RTT News reports. Investors of record on Monday, July 7th will be given 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 2.00%.

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

Limoneira Price Performance

LMNR stock traded down $0.28 during mid-day trading on Wednesday, hitting $15.03. 93,197 shares of the stock were exchanged, compared to its average volume of 62,259. The business has a fifty day moving average price of $15.61 and a 200 day moving average price of $19.70. Limoneira has a 12 month low of $14.64 and a 12 month high of $29.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 0.94. The stock has a market capitalization of $271.59 million, a price-to-earnings ratio of -107.35 and a beta of 0.45.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LMNR. Lake Street Capital raised 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. Wall Street Zen raised shares of Limoneira to a "sell" rating in a research note on Wednesday, April 9th.

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

Institutional Investors Weigh In On Limoneira

An institutional investor recently bought a new position in Limoneira stock. Jane Street Group LLC acquired a new position in Limoneira Co (NASDAQ:LMNR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 18,890 shares of the company's stock, valued at approximately $335,000. Jane Street Group LLC owned approximately 0.10% of Limoneira as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 64.35% of the company's stock.

Limoneira Company Profile

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.

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