Limoneira Co (NASDAQ:LMNR) issued its earnings results on Monday. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01), Briefing.com reports. The business had revenue of $40.40 million during the quarter, compared to analyst estimates of $37.94 million. Limoneira had a return on equity of 6.80% and a net margin of 7.42%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.71 EPS. Limoneira updated its FY17 guidance to $0.51-0.55 EPS.
Shares of Limoneira (LMNR) opened at 22.61 on Wednesday. Limoneira has a 52-week low of $16.39 and a 52-week high of $24.50. The company’s 50-day moving average price is $22.01 and its 200-day moving average price is $20.72. The firm has a market cap of $325.70 million, a PE ratio of 27.98 and a beta of 0.90.
In other Limoneira news, Director Ronald L. Michaelis sold 1,500 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $23.44, for a total transaction of $35,160.00. Following the completion of the transaction, the director now owns 9,686 shares in the company, valued at approximately $227,039.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elizabeth Blanchard Chess sold 3,506 shares of the stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $23.43, for a total value of $82,145.58. Following the transaction, the director now owns 1,616 shares of the company’s stock, valued at approximately $37,862.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,500 shares of company stock valued at $196,497. Corporate insiders own 5.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in LMNR. Wells Fargo & Company MN increased its holdings in Limoneira by 5.2% during the 1st quarter. Wells Fargo & Company MN now owns 8,336 shares of the company’s stock worth $175,000 after purchasing an additional 410 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Limoneira by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 72,107 shares of the company’s stock worth $1,508,000 after purchasing an additional 991 shares in the last quarter. American International Group Inc. increased its holdings in Limoneira by 7.0% during the 1st quarter. American International Group Inc. now owns 7,214 shares of the company’s stock worth $151,000 after purchasing an additional 471 shares in the last quarter. Vanguard Group Inc. increased its holdings in Limoneira by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 489,206 shares of the company’s stock worth $10,230,000 after purchasing an additional 18,774 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Limoneira by 9.9% during the 1st quarter. Geode Capital Management LLC now owns 85,463 shares of the company’s stock worth $1,787,000 after purchasing an additional 7,675 shares in the last quarter. Hedge funds and other institutional investors own 26.51% of the company’s stock.
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Several analysts have recently commented on the company. Zacks Investment Research raised Limoneira from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, June 27th. Roth Capital reissued a “buy” rating and set a $26.50 price objective on shares of Limoneira in a research report on Wednesday, June 7th. Finally, BidaskClub cut Limoneira from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th.
Limoneira Company is engaged in agribusiness and real estate development. The Company’s operations consist of fruit production, sales and marketing, rental operations, real estate development and capital investment activities. The Company’s segments include lemon operations, other agribusiness, rental operations and real estate development.
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