Limoneira (LMNR) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Limoneira (NASDAQ:LMNR) from a buy rating to a hold rating in a report issued 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 brokerages have also recently weighed in on LMNR. TheStreet upgraded Limoneira from a c+ rating to a b rating in a research report on Wednesday, April 11th. ValuEngine cut Limoneira from a buy rating to a hold rating in a research report on Monday, April 2nd. Finally, BidaskClub upgraded Limoneira from a hold rating to a buy rating in a research report on Tuesday, April 3rd. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $27.00.

Shares of Limoneira opened at $23.96 on Tuesday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.14. The company has a market cap of $343.41 million, a PE ratio of 49.23 and a beta of 0.82. Limoneira has a twelve month low of $23.23 and a twelve month high of $23.75.

Limoneira (NASDAQ:LMNR) last announced its quarterly earnings results on Thursday, March 8th. The company reported ($0.09) earnings per share for the quarter, topping 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 return on equity of 5.27% and a net margin of 13.85%. research analysts expect that Limoneira will post 0.69 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 18th. Investors of record on Friday, April 6th were given a $0.0625 dividend. This represents a $0.25 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, April 5th. Limoneira’s dividend payout ratio is currently 59.52%.

A number of institutional investors and hedge funds have recently bought and sold shares of LMNR. MetLife Investment Advisors LLC acquired a new stake in Limoneira in the 4th quarter valued at approximately $139,000. Chicago Equity Partners LLC acquired a new stake in Limoneira in the 1st quarter valued at approximately $297,000. Wells Fargo & Company MN increased 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 acquiring an additional 3,886 shares during the period. Algert Global LLC increased 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 acquiring an additional 2,720 shares during the period. Finally, Deutsche Bank AG increased its position in Limoneira by 144.8% in the 4th quarter. Deutsche Bank AG now owns 27,233 shares of the company’s stock valued at $607,000 after acquiring an additional 16,108 shares during the period. 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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