Limoneira (LMNR) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Limoneira (NASDAQ:LMNR) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Limoneira Company is an agribusiness and real estate development company. Its current operations consist of fruit production and marketing, real estate development and capital investment activities. Limoneira has three business segments: agribusiness, rental operations, and real estate development. The agribusiness segment includes its farming and lemon packing operations. The Company produces lemons, avocados, oranges, and other specialty crops. The rental operations segment includes housing, organic recycling, commercial and leased land operations. The real estate development segment includes its real estate projects and development. Limoneira Company is based in Santa Paula, California. “

A number of other equities analysts have also recently commented on the stock. ValuEngine cut shares of Limoneira from a buy rating to a hold rating in a report on Monday, April 2nd. TheStreet raised shares of Limoneira from a c+ rating to a b rating in a report on Wednesday, April 11th. Finally, BidaskClub raised shares of Limoneira from a sell rating to a hold rating in a report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Limoneira presently has a consensus rating of Buy and a consensus target price of $27.00.

Shares of Limoneira stock traded down $0.27 during trading on Tuesday, reaching $24.65. The company’s stock had a trading volume of 7 shares, compared to its average volume of 25,959. The stock has a market capitalization of $356.49 million, a price-to-earnings ratio of 59.33 and a beta of 0.82. Limoneira has a fifty-two week low of $24.33 and a fifty-two week high of $24.33. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 1.04.

Limoneira (NASDAQ:LMNR) last announced its earnings results on Thursday, March 8th. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. The business had revenue of $31.59 million for the quarter, compared to analysts’ expectations of $26.50 million. Limoneira had a net margin of 13.85% and a return on equity of 5.27%. analysts anticipate that Limoneira will post 0.69 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 18th. Investors of record on Friday, April 6th were given a $0.0625 dividend. The ex-dividend date was Thursday, April 5th. This represents a $0.25 dividend on an annualized basis and a yield of 1.01%. Limoneira’s dividend payout ratio (DPR) is 59.52%.

Large investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC purchased a new position in Limoneira in the 4th quarter valued at $139,000. Chicago Equity Partners LLC purchased a new position in Limoneira in the 1st quarter valued at $297,000. Wells Fargo & Company MN grew its position in Limoneira by 42.7% in the 3rd quarter. Wells Fargo & Company MN now owns 12,979 shares of the company’s stock valued at $301,000 after buying an additional 3,886 shares during the last quarter. Royal Bank of Canada grew its position in Limoneira by 62.0% in the 1st quarter. Royal Bank of Canada now owns 13,333 shares of the company’s stock valued at $316,000 after buying an additional 5,103 shares during the last quarter. Finally, Algert Global LLC grew its position in Limoneira by 12.0% in the 4th quarter. Algert Global LLC now owns 25,370 shares of the company’s stock valued at $568,000 after buying an additional 2,720 shares during the last quarter. Hedge funds and other institutional investors own 28.32% 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 six segments: Fresh Lemons, Lemon Packing, Avocados, Other Agribusiness, Rental Operations, and Real Estate Development. The Fresh Lemons segment markets and sells lemons directly to food service, wholesale, and retail customers.

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