Limoneira (LMNR) To Go Ex-Dividend on March 28th

Limoneira (NASDAQ:LMNR) declared a quarterly dividend on Tuesday, March 19th, Zacks reports. Investors of record on Monday, April 1st will be paid a dividend of 0.075 per share on Friday, April 12th. This represents a $0.30 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, March 28th.

Limoneira has a payout ratio of 71.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Limoneira to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 68.2%.

Limoneira Stock Up 0.3 %

LMNR stock traded up $0.06 during trading hours on Tuesday, hitting $19.42. The company’s stock had a trading volume of 12,203 shares, compared to its average volume of 40,761. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $349.56 million, a PE ratio of -33.10, a price-to-earnings-growth ratio of 9.92 and a beta of 0.55. Limoneira has a 12 month low of $13.88 and a 12 month high of $21.62. The stock has a 50 day moving average price of $18.44 and a two-hundred day moving average price of $17.09.

Limoneira (NASDAQ:LMNR) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. Limoneira had a negative net margin of 5.40% and a negative return on equity of 1.16%. The business had revenue of $39.73 million during the quarter, compared to analysts’ expectations of $39.07 million. During the same period in the previous year, the company earned ($0.53) earnings per share. On average, equities research analysts expect that Limoneira will post 0.13 earnings per share for the current year.

Wall Street Analyst Weigh In

LMNR has been the subject of several research analyst reports. TheStreet cut shares of Limoneira from a “b-” rating to a “c+” rating in a research note on Tuesday, January 30th. Roth Mkm upped their target price on shares of Limoneira from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, January 2nd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Limoneira by 286.5% during the 2nd quarter. BlackRock Inc. now owns 1,048,456 shares of the company’s stock worth $16,314,000 after buying an additional 777,178 shares during the period. Vanguard Group Inc. boosted its position in Limoneira by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 913,393 shares of the company’s stock worth $18,843,000 after purchasing an additional 19,802 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Limoneira by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 638,302 shares of the company’s stock worth $10,634,000 after buying an additional 19,885 shares in the last quarter. Geode Capital Management LLC raised its stake in Limoneira by 123.2% in the second quarter. Geode Capital Management LLC now owns 321,863 shares of the company’s stock valued at $5,008,000 after purchasing an additional 177,676 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in Limoneira in the second quarter valued at about $3,862,000. 64.35% of the stock is currently owned by institutional investors and hedge funds.

About Limoneira

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates through three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.