Limoneira (NASDAQ:LMNR) Issues Earnings Results, Misses Estimates By $0.08 EPS

Limoneira (NASDAQ:LMNR) issued its earnings results on Tuesday. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.08), FiscalAI reports. The firm had revenue of $23.93 million during the quarter, compared to analyst estimates of $21.42 million. Limoneira had a negative net margin of 15.55% and a negative return on equity of 12.19%.

Limoneira Stock Up 1.9%

Limoneira stock traded up $0.22 during midday trading on Tuesday, hitting $12.10. The stock had a trading volume of 67,070 shares, compared to its average volume of 78,317. The company has a current ratio of 1.16, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a market cap of $219.13 million, a P/E ratio of -9.45 and a beta of 0.30. Limoneira has a 12 month low of $11.66 and a 12 month high of $17.19. The business has a fifty day moving average price of $12.90 and a 200 day moving average price of $13.53.

Analysts Set New Price Targets

A number of brokerages have commented on LMNR. Weiss Ratings restated a “sell (d)” rating on shares of Limoneira in a research note on Friday, March 27th. Zacks Research upgraded Limoneira from a “strong sell” rating to a “hold” rating in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.50.

Institutional Trading of Limoneira

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC bought a new stake in Limoneira in the fourth quarter valued at about $154,000. Beartown Capital Management LLC bought a new stake in Limoneira in the fourth quarter valued at about $163,000. Russell Investments Group Ltd. increased its holdings in Limoneira by 7.9% in the fourth quarter. Russell Investments Group Ltd. now owns 27,642 shares of the company’s stock valued at $349,000 after buying an additional 2,028 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Limoneira by 8.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,148 shares of the company’s stock valued at $684,000 after buying an additional 4,294 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Limoneira by 26.8% in the fourth quarter. Wells Fargo & Company MN now owns 28,778 shares of the company’s stock valued at $363,000 after buying an additional 6,085 shares during the last quarter. 64.35% of the stock is owned by institutional investors.

Limoneira Company Profile

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.