Limoneira (NASDAQ:LMNR) Expected to Post Quarterly Sales of $25.05 Million

Wall Street brokerages forecast that Limoneira (NASDAQ:LMNR) will announce sales of $25.05 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Limoneira’s earnings. The highest sales estimate is $26.90 million and the lowest is $23.20 million. Limoneira reported sales of $14.71 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 70.3%. The company is scheduled to report its next quarterly earnings results on Monday, January 13th.

On average, analysts expect that Limoneira will report full-year sales of $159.66 million for the current financial year, with estimates ranging from $157.50 million to $161.82 million. For the next year, analysts anticipate that the firm will post sales of $201.25 million, with estimates ranging from $197.00 million to $205.50 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Limoneira.

Several equities research analysts have recently weighed in on LMNR shares. BidaskClub raised shares of Limoneira from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Limoneira from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Thursday. Finally, ValuEngine raised shares of Limoneira from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 31st. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $24.60.

NASDAQ LMNR traded down $0.06 on Friday, hitting $20.24. 17,145 shares of the stock were exchanged, compared to its average volume of 62,909. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.11 and a current ratio of 1.29. The stock has a fifty day moving average price of $19.03 and a two-hundred day moving average price of $19.08. The firm has a market capitalization of $362.04 million, a P/E ratio of 40.48, a P/E/G ratio of 2.11 and a beta of 1.07. Limoneira has a 52-week low of $17.05 and a 52-week high of $25.65.

In related news, CEO Harold S. Edwards sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $20.24, for a total transaction of $40,480.00. Insiders have sold a total of 5,100 shares of company stock valued at $102,790 over the last three months. 4.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY boosted its stake in shares of Limoneira by 17.3% during the third quarter. Metropolitan Life Insurance Co NY now owns 5,188 shares of the company’s stock valued at $95,000 after purchasing an additional 764 shares during the period. Millennium Management LLC purchased a new position in Limoneira in the 3rd quarter worth about $1,104,000. Ashford Capital Management Inc. lifted its holdings in Limoneira by 2.1% during the 3rd quarter. Ashford Capital Management Inc. now owns 853,792 shares of the company’s stock valued at $15,676,000 after buying an additional 17,862 shares in the last quarter. State Street Corp lifted its holdings in Limoneira by 0.7% during the 3rd quarter. State Street Corp now owns 280,139 shares of the company’s stock valued at $5,143,000 after buying an additional 1,955 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Limoneira by 29.8% in the 3rd quarter. First Trust Advisors LP now owns 34,674 shares of the company’s stock valued at $637,000 after buying an additional 7,963 shares during the period. Institutional investors and hedge funds own 56.46% 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 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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