Limoneira Co (NASDAQ:LMNR) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Limoneira Co (NASDAQ:LMNR) has received an average consensus recommendation of "Hold" based on reports from five brokerages, with price targets ranging from $18.00 to $23.00.
• Institutional investors currently own 64.35% of Limoneira's stock, with notable increases in holdings from several firms including a 64.8% rise from BNP Paribas Financial Markets.
• The company announced a quarterly dividend of $0.075 per share, yielding 2.0%, with a payout ratio of -54.55%.

Limoneira Co (NASDAQ:LMNR - Get Free Report) has been assigned an average recommendation of "Hold" from the five brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $20.50.

A number of brokerages recently weighed in on LMNR. Lake Street Capital raised Limoneira from a "hold" rating to a "buy" rating and set a $23.00 price objective on the stock in a research report on Tuesday, June 10th. Roth Capital reissued a "buy" rating on shares of Limoneira in a report on Monday, September 15th. Zacks Research downgraded Limoneira from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 16th. Stephens initiated coverage on Limoneira in a report on Friday, September 12th. They issued an "equal weight" rating and a $18.00 price target for the company. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Limoneira in a report on Saturday, September 27th.

Institutional Investors Weigh In On Limoneira

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in Limoneira by 64.8% in the second quarter. BNP Paribas Financial Markets now owns 1,699 shares of the company's stock valued at $27,000 after acquiring an additional 668 shares during the period. GAMMA Investing LLC lifted its holdings in Limoneira by 1,423.4% in the first quarter. GAMMA Investing LLC now owns 1,630 shares of the company's stock valued at $29,000 after acquiring an additional 1,523 shares during the period. Byrne Asset Management LLC lifted its holdings in Limoneira by 168.7% in the first quarter. Byrne Asset Management LLC now owns 3,869 shares of the company's stock valued at $69,000 after acquiring an additional 2,429 shares during the period. Caption Management LLC acquired a new position in Limoneira in the first quarter valued at approximately $123,000. Finally, Walleye Capital LLC acquired a new position in Limoneira in the second quarter valued at approximately $220,000. Institutional investors and hedge funds own 64.35% of the company's stock.

Limoneira Trading Up 1.9%

LMNR stock traded up $0.28 during midday trading on Friday, reaching $15.10. The company's stock had a trading volume of 48,104 shares, compared to its average volume of 68,619. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.66 and a current ratio of 1.80. The stock has a fifty day simple moving average of $15.43 and a two-hundred day simple moving average of $15.78. Limoneira has a 1 year low of $14.40 and a 1 year high of $29.22. The firm has a market capitalization of $272.56 million, a price-to-earnings ratio of -27.45 and a beta of 0.43.

Limoneira Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, October 6th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Monday, October 6th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.0%. Limoneira's payout ratio is -54.55%.

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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