Wall Street brokerages expect Limoneira (NASDAQ:LMNR) to announce sales of $61.84 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Limoneira’s earnings. The highest sales estimate is $65.20 million and the lowest is $58.47 million. Limoneira posted sales of $39.95 million in the same quarter last year, which suggests a positive year over year growth rate of 54.8%. The business is expected to announce its next quarterly earnings report on Monday, September 9th.

According to Zacks, analysts expect that Limoneira will report full year sales of $176.08 million for the current fiscal year, with estimates ranging from $175.50 million to $176.65 million. For the next fiscal year, analysts anticipate that the firm will post sales of $222.56 million, with estimates ranging from $221.71 million to $223.40 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Limoneira.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings data on Monday, June 10th. The company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. The business had revenue of $42.04 million for the quarter, compared to analysts’ expectations of $43.54 million. Limoneira had a negative return on equity of 0.26% and a net margin of 2.22%.

LMNR has been the topic of several research reports. National Securities initiated coverage on Limoneira in a research report on Monday, July 22nd. They set a “buy” rating and a $30.00 price objective on the stock. ValuEngine raised Limoneira from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. TheStreet cut Limoneira from a “b-” rating to a “c+” rating in a research report on Tuesday, June 11th. Lake Street Capital reaffirmed a “buy” rating and set a $25.00 price objective (down from $28.00) on shares of Limoneira in a research report on Thursday, June 13th. Finally, Zacks Investment Research upgraded shares of Limoneira from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Limoneira presently has an average rating of “Buy” and an average target price of $26.60.

Several hedge funds have recently added to or reduced their stakes in LMNR. Bank of Montreal Can lifted its holdings in shares of Limoneira by 132,800.0% during the second quarter. Bank of Montreal Can now owns 1,329 shares of the company’s stock valued at $27,000 after purchasing an additional 1,328 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Limoneira during the second quarter valued at approximately $41,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Limoneira by 757.1% during the first quarter. BNP Paribas Arbitrage SA now owns 3,094 shares of the company’s stock valued at $73,000 after purchasing an additional 2,733 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Limoneira by 18.4% during the second quarter. JPMorgan Chase & Co. now owns 4,296 shares of the company’s stock valued at $83,000 after purchasing an additional 668 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Limoneira by 369.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,424 shares of the company’s stock valued at $86,000 after purchasing an additional 3,481 shares during the last quarter. Hedge funds and other institutional investors own 54.88% of the company’s stock.

Limoneira stock traded up $0.15 during trading hours on Thursday, hitting $18.59. 50,477 shares of the stock traded hands, compared to its average volume of 67,204. The firm’s 50-day moving average price is $19.17 and its two-hundred day moving average price is $21.39. The company has a current ratio of 1.04, a quick ratio of 0.96 and a debt-to-equity ratio of 0.43. The company has a market cap of $327.86 million, a PE ratio of 37.18, a PEG ratio of 4.40 and a beta of 1.08. Limoneira has a one year low of $18.03 and a one year high of $33.42.

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Monday, July 8th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.61%. This is a positive change from Limoneira’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, July 5th. Limoneira’s dividend payout ratio (DPR) is presently 60.00%.

About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates in six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons.

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