Brokerages Set Limoneira (NASDAQ:LMNR) Target Price at $17.00

Shares of Limoneira (NASDAQ:LMNR) have been given a consensus rating of “Hold” by the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $17.00.

A number of research analysts have issued reports on LMNR shares. ValuEngine lowered shares of Limoneira from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 4th. Zacks Investment Research upgraded shares of Limoneira from a “strong sell” rating to a “hold” rating in a research report on Friday, February 21st. BidaskClub lowered shares of Limoneira from a “buy” rating to a “hold” rating in a research report on Saturday, December 21st. Lake Street Capital reduced their price target on shares of Limoneira from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 12th. Finally, National Securities lowered shares of Limoneira from a “buy” rating to a “neutral” rating in a research report on Thursday, March 12th.

A number of institutional investors have recently modified their holdings of LMNR. California Public Employees Retirement System boosted its position in Limoneira by 13.8% in the third quarter. California Public Employees Retirement System now owns 22,200 shares of the company’s stock valued at $408,000 after buying an additional 2,700 shares in the last quarter. First Trust Advisors LP boosted its position in Limoneira by 29.8% in the third 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 in the last quarter. State Street Corp boosted its position in Limoneira by 0.7% in the third 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. Ashford Capital Management Inc. boosted its position in Limoneira by 2.1% in the third 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. Finally, Millennium Management LLC acquired a new stake in Limoneira in the third quarter valued at approximately $1,104,000. Hedge funds and other institutional investors own 54.82% of the company’s stock.

Shares of NASDAQ:LMNR traded up $0.21 on Monday, reaching $14.00. 53,179 shares of the company’s stock were exchanged, compared to its average volume of 55,876. The company has a fifty day moving average of $17.49 and a 200-day moving average of $18.84. Limoneira has a twelve month low of $10.60 and a twelve month high of $24.77. The company has a market capitalization of $246.26 million, a price-to-earnings ratio of -30.43, a PEG ratio of 4.18 and a beta of 1.08. The company has a current ratio of 1.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.59.

Limoneira (NASDAQ:LMNR) last announced its earnings results on Wednesday, March 11th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.11). Limoneira had a negative return on equity of 4.97% and a negative net margin of 4.49%. The business had revenue of $41.66 million for the quarter, compared to analyst estimates of $42.30 million. As a group, equities research analysts forecast that Limoneira will post 0.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 17th. Shareholders of record on Monday, April 6th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, April 3rd. This represents a $0.30 dividend on an annualized basis and a yield of 2.14%. Limoneira’s dividend payout ratio is currently -66.67%.

Limoneira Company Profile

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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