Limoneira (NASDAQ:LMNR) Releases Earnings Results, Misses Expectations By $0.17 EPS

Limoneira (NASDAQ:LMNR) issued its quarterly earnings data on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.17), FiscalAI reports. Limoneira had a negative net margin of 30.50% and a negative return on equity of 13.94%. The company had revenue of $43.81 million during the quarter, compared to analysts’ expectations of $49.62 million.

Limoneira Stock Down 0.6%

LMNR stock traded down $0.09 during midday trading on Wednesday, hitting $14.94. The company’s stock had a trading volume of 82,130 shares, compared to its average volume of 80,944. The firm has a 50-day simple moving average of $13.72 and a 200-day simple moving average of $13.36. The firm has a market capitalization of $270.86 million, a P/E ratio of -6.55 and a beta of 0.32. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.61. Limoneira has a 52-week low of $11.66 and a 52-week high of $15.55.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Lake Street Capital dropped their price target on shares of Limoneira from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Limoneira in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of Limoneira from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, HC Wainwright lowered Limoneira to a “buy” rating in a research report on Wednesday, June 10th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Limoneira has an average rating of “Hold” and a consensus target price of $18.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in Limoneira by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 397,720 shares of the company’s stock worth $6,226,000 after purchasing an additional 20,913 shares during the period. Gabelli Funds LLC boosted its stake in shares of Limoneira by 4.2% in the 2nd quarter. Gabelli Funds LLC now owns 128,000 shares of the company’s stock valued at $2,003,000 after buying an additional 5,200 shares during the period. Qube Research & Technologies Ltd boosted its stake in shares of Limoneira by 515.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 74,124 shares of the company’s stock valued at $1,160,000 after buying an additional 62,080 shares during the period. Advisors Asset Management Inc. grew its position in shares of Limoneira by 3.3% during the fourth quarter. Advisors Asset Management Inc. now owns 56,794 shares of the company’s stock worth $717,000 after buying an additional 1,814 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Limoneira by 8.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 54,148 shares of the company’s stock worth $684,000 after buying an additional 4,294 shares in the last quarter. 64.35% of the stock is currently owned by hedge funds and other institutional investors.

About Limoneira

Limoneira Company (NASDAQ: LMNR), founded in 1893 and based in Santa Paula, California, is a diversified agribusiness and real estate enterprise. As one of the oldest citrus producers in the United States, Limoneira has built a reputation for cultivating and marketing high-quality citrus fruits, avocados and specialty crops. The company’s vertically integrated model encompasses farming, packing, processing and marketing activities designed to deliver fresh produce to domestic and international markets.

In its agricultural operations, Limoneira specializes in lemons, oranges and avocados, employing modern irrigation, harvesting and packing technologies to maintain consistent product quality and supply.