Equities research analysts predict that Limoneira (NASDAQ:LMNR) will post $61.43 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Limoneira’s earnings, with the lowest sales estimate coming in at $61.20 million and the highest estimate coming in at $61.66 million. Limoneira reported sales of $43.14 million in the same quarter last year, which indicates a positive year over year growth rate of 42.4%. The company is scheduled to issue its next quarterly earnings results on Monday, June 10th.

On average, analysts expect that Limoneira will report full-year sales of $195.94 million for the current year, with estimates ranging from $192.80 million to $199.09 million. For the next financial year, analysts forecast that the business will report sales of $242.84 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Limoneira.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.05). Limoneira had a net margin of 4.91% and a return on equity of 3.73%. The firm had revenue of $42.02 million for the quarter, compared to analyst estimates of $44.74 million.

Several equities research analysts recently weighed in on the company. BidaskClub downgraded Limoneira from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 19th. Zacks Investment Research raised Limoneira from a “sell” rating to a “hold” rating in a report on Friday, March 15th. ValuEngine raised Limoneira from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Stephens downgraded Limoneira from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $25.00 to $18.00 in a report on Tuesday. Finally, Lake Street Capital set a $28.00 target price on Limoneira and gave the stock a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Limoneira presently has an average rating of “Hold” and an average price target of $27.20.

In related news, CFO Mark Palamountain sold 1,611 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $24.35, for a total value of $39,227.85. Following the completion of the sale, the chief financial officer now directly owns 49,698 shares of the company’s stock, valued at approximately $1,210,146.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert M. Sawyer sold 1,250 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $24.28, for a total value of $30,350.00. The disclosure for this sale can be found here. Insiders sold a total of 6,172 shares of company stock worth $148,825 over the last three months. 4.50% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of LMNR. Bank of New York Mellon Corp increased its position in Limoneira by 6.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 81,050 shares of the company’s stock valued at $2,116,000 after buying an additional 4,896 shares in the last quarter. BlackRock Inc. increased its position in Limoneira by 71.9% in the 3rd quarter. BlackRock Inc. now owns 1,208,848 shares of the company’s stock valued at $31,564,000 after buying an additional 505,647 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Limoneira by 56.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 481,396 shares of the company’s stock valued at $12,569,000 after buying an additional 174,382 shares in the last quarter. JPMorgan Chase & Co. increased its position in Limoneira by 14,004.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 350,344 shares of the company’s stock valued at $9,148,000 after buying an additional 347,860 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Limoneira by 22.1% in the 3rd quarter. Renaissance Technologies LLC now owns 79,600 shares of the company’s stock valued at $2,078,000 after buying an additional 14,400 shares in the last quarter. 50.78% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ LMNR traded up $0.60 during mid-day trading on Wednesday, hitting $20.57. 148,000 shares of the stock traded hands, compared to its average volume of 69,805. The company has a quick ratio of 1.28, a current ratio of 1.38 and a debt-to-equity ratio of 0.44. Limoneira has a twelve month low of $18.07 and a twelve month high of $33.42. The company has a market cap of $378.56 million, a price-to-earnings ratio of 41.14, a price-to-earnings-growth ratio of 1.84 and a beta of 0.96.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Monday, April 8th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, April 5th. Limoneira’s dividend payout ratio is 60.00%.

About Limoneira

Limoneira Co is an agribusiness and real estate development company, which engages in the innovation of agricultural citrus industry in California. It operates through the following three divisions: Agribusiness, Rental Operations and Real Estate Development. The Agribusiness division comprised of lemon operations and other agribusiness segments include farming, harvesting, lemon packing, and lemon sales operations.

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