Limoneira (NASDAQ:LMNR) announced a quarterly dividend on Thursday, June 25th, Fidelity reports. Investors of record on Monday, July 6th will be given a dividend of 0.075 per share on Friday, July 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, July 2nd. This is a positive change from Limoneira’s previous quarterly dividend of $0.05.

Limoneira has a dividend payout ratio of -375.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Limoneira to earn $0.20 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 150.0%.

NASDAQ:LMNR opened at $13.53 on Tuesday. Limoneira has a 1 year low of $10.60 and a 1 year high of $21.85. The company has a current ratio of 1.68, a quick ratio of 1.54 and a debt-to-equity ratio of 0.60. The stock has a fifty day moving average price of $13.37 and a two-hundred day moving average price of $16.09.

Limoneira (NASDAQ:LMNR) last announced its quarterly earnings data on Tuesday, June 9th. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). Limoneira had a negative net margin of 9.12% and a negative return on equity of 4.97%. The company had revenue of $39.57 million during the quarter, compared to analyst estimates of $36.84 million. Equities analysts anticipate that Limoneira will post -0.42 earnings per share for the current year.

A number of equities research analysts recently weighed in on LMNR shares. Roth Capital lowered their price target on Limoneira from $22.00 to $17.00 in a report on Thursday, March 12th. TheStreet lowered Limoneira from a “c-” rating to a “d+” rating in a report on Monday, June 8th. Stifel Nicolaus cut their price target on Limoneira from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, June 10th. Stephens dropped their target price on shares of Limoneira from $20.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, March 12th. Finally, Zacks Investment Research cut shares of Limoneira from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $18.83.

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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Dividend History for Limoneira (NASDAQ:LMNR)

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