Limoneira (NASDAQ:LMNR) Issues Earnings Results, Misses Expectations By $0.24 EPS

Key Points

• Limoneira reported a quarterly earnings per share (EPS) of ($0.05), missing analysts' expectations by $0.24.
• Despite the earnings miss, Limoneira's stock increased by 0.1%, trading at $15.73 during the same day.
• The company announced a quarterly dividend of $0.075, which represents a 1.9% dividend yield despite having a negative dividend payout ratio of -214.29%.

Limoneira (NASDAQ:LMNR - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.24), Zacks reports. Limoneira had a negative return on equity of 0.90% and a negative net margin of 0.96%.

Limoneira Stock Up 0.1%

Shares of NASDAQ LMNR traded up $0.01 during midday trading on Tuesday, hitting $15.73. The company's stock had a trading volume of 203,968 shares, compared to its average volume of 68,350. The business's fifty day simple moving average is $15.59 and its two-hundred day simple moving average is $16.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 0.94. Limoneira has a 1 year low of $14.40 and a 1 year high of $29.22. The firm has a market capitalization of $284.23 million, a price-to-earnings ratio of -112.35 and a beta of 0.44.

Limoneira Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Monday, July 7th were paid a $0.075 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.30 annualized dividend and a dividend yield of 1.9%. Limoneira's dividend payout ratio (DPR) is presently -214.29%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Zacks Research raised shares of Limoneira to a "hold" rating in a report on Tuesday, August 12th. Lake Street Capital raised shares of Limoneira from a "hold" rating to a "buy" rating and set a $23.00 price target on the stock in a report on Tuesday, June 10th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $23.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake in shares of 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 purchasing an additional 668 shares during the period. Jane Street Group LLC lifted its stake in Limoneira by 68.8% in the second quarter. Jane Street Group LLC now owns 31,879 shares of the company's stock worth $499,000 after acquiring an additional 12,989 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Limoneira by 52.8% in the second quarter. Squarepoint Ops LLC now owns 52,108 shares of the company's stock worth $815,000 after acquiring an additional 18,005 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Limoneira by 515.4% in the second quarter. Qube Research & Technologies Ltd now owns 74,124 shares of the company's stock worth $1,160,000 after acquiring an additional 62,080 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in Limoneira by 4.2% in the second quarter. Gabelli Funds LLC now owns 128,000 shares of the company's stock worth $2,003,000 after acquiring an additional 5,200 shares during the last quarter. Hedge funds and other institutional investors own 64.35% of the company's stock.

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.

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