-$0.09 Earnings Per Share Expected for Limoneira (NASDAQ:LMNR) This Quarter

Wall Street brokerages expect Limoneira (NASDAQ:LMNR) to report earnings of ($0.09) per share for the current quarter, Zacks reports. Two analysts have issued estimates for Limoneira’s earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at ($0.21). Limoneira reported earnings of ($0.24) per share in the same quarter last year, which indicates a positive year over year growth rate of 62.5%. The company is expected to announce its next quarterly earnings report on Monday, January 11th.

According to Zacks, analysts expect that Limoneira will report full year earnings of ($0.44) per share for the current fiscal year, with EPS estimates ranging from ($0.61) to ($0.23). For the next year, analysts forecast that the company will post earnings of $0.25 per share, with EPS estimates ranging from $0.17 to $0.37. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Limoneira.

Limoneira (NASDAQ:LMNR) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Limoneira had a negative net margin of 7.05% and a negative return on equity of 4.17%.

LMNR has been the subject of several recent research reports. BidaskClub upgraded shares of Limoneira from a “hold” rating to a “buy” rating in a report on Friday, September 11th. Zacks Investment Research upgraded shares of Limoneira from a “sell” rating to a “hold” rating in a report on Friday, September 11th. Stifel Nicolaus dropped their target price on shares of Limoneira from $21.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, June 10th. National Securities restated a “buy” rating and set a $20.00 target price on shares of Limoneira in a report on Thursday, September 10th. Finally, TheStreet upgraded shares of Limoneira from a “d+” rating to a “c-” rating in a report on Tuesday, September 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $18.83.

In other news, CFO Mark Palamountain sold 2,763 shares of Limoneira stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $15.79, for a total transaction of $43,627.77. Following the completion of the sale, the chief financial officer now directly owns 60,740 shares in the company, valued at $959,084.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of LMNR. Global Alpha Capital Management Ltd. increased its stake in Limoneira by 14.8% during the first quarter. Global Alpha Capital Management Ltd. now owns 1,697,163 shares of the company’s stock valued at $22,233,000 after purchasing an additional 219,132 shares during the last quarter. Eaton Vance Management bought a new stake in Limoneira during the first quarter valued at $2,186,000. First Wilshire Securities Management Inc. increased its stake in Limoneira by 75.1% during the first quarter. First Wilshire Securities Management Inc. now owns 180,219 shares of the company’s stock valued at $2,361,000 after purchasing an additional 77,276 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in Limoneira by 190.6% during the second quarter. Gamco Investors INC. ET AL now owns 46,500 shares of the company’s stock valued at $674,000 after purchasing an additional 30,500 shares during the last quarter. Finally, Trexquant Investment LP bought a new stake in Limoneira during the second quarter valued at $426,000. Institutional investors and hedge funds own 55.53% of the company’s stock.

Shares of NASDAQ LMNR traded up $0.20 during midday trading on Friday, hitting $14.30. The company had a trading volume of 23,684 shares, compared to its average volume of 70,332. The company has a quick ratio of 1.58, a current ratio of 1.78 and a debt-to-equity ratio of 0.59. Limoneira has a twelve month low of $10.60 and a twelve month high of $21.85. The business has a 50-day simple moving average of $14.77 and a two-hundred day simple moving average of $13.75. The firm has a market capitalization of $254.77 million, a price-to-earnings ratio of -19.86 and a beta of 1.04.

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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