Limoneira (NASDAQ:LMNR) announced a quarterly dividend on Tuesday, March 24th, Zacks reports. Investors of record on Monday, April 6th will be paid a dividend of 0.075 per share on Friday, April 17th. This represents a $0.30 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, April 3rd.
Limoneira has raised its dividend payment by an average of 9.7% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Limoneira has a payout ratio of 230.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Limoneira to earn $0.75 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 40.0%.
LMNR stock traded up $0.21 during mid-day trading on Thursday, hitting $14.00. 53,179 shares of the company were exchanged, compared to its average volume of 80,420. The company has a market capitalization of $246.26 million, a PE ratio of -30.43, a price-to-earnings-growth 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 has a twelve month low of $10.60 and a twelve month high of $24.77. The firm has a fifty day simple moving average of $17.49 and a 200 day simple moving average of $18.84.
Limoneira (NASDAQ:LMNR) last released its earnings results on Wednesday, March 11th. The company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.11). Limoneira had a negative net margin of 4.49% and a negative return on equity of 4.97%. The company had revenue of $41.66 million for the quarter, compared to analyst estimates of $42.30 million. As a group, sell-side analysts anticipate that Limoneira will post 0.22 earnings per share for the current year.
Several research firms have recently weighed in on LMNR. BidaskClub lowered shares of Limoneira from a “buy” rating to a “hold” rating in a report on Saturday, December 21st. ValuEngine lowered shares of Limoneira from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 4th. Stephens decreased their price objective on shares of Limoneira from $20.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, March 12th. Lake Street Capital decreased their price objective on shares of Limoneira from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 12th. Finally, Zacks Investment Research raised shares of Limoneira from a “strong sell” rating to a “hold” rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Limoneira has a consensus rating of “Hold” and an average price target of $20.60.
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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