Limoneira (NASDAQ:LMNR) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Limoneira (NASDAQ:LMNR) from a sell rating to a hold rating in a research report report published on Friday.

LMNR has been the topic of several other reports. TheStreet downgraded shares of Limoneira from a b- rating to a c+ rating in a research note on Tuesday, January 30th. Roth Mkm raised their target price on shares of Limoneira from $17.00 to $23.00 and gave the stock a buy rating in a report on Tuesday, January 2nd.

Limoneira Price Performance

Shares of LMNR opened at $19.59 on Friday. Limoneira has a 1-year low of $13.88 and a 1-year high of $21.62. The firm’s 50 day simple moving average is $18.82 and its 200 day simple moving average is $17.64. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 0.28.

Limoneira (NASDAQ:LMNR) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.05. The firm had revenue of $39.73 million for the quarter, compared to the consensus estimate of $39.07 million. Limoneira had a negative net margin of 5.40% and a negative return on equity of 1.16%. During the same period last year, the firm posted ($0.53) earnings per share. On average, equities research analysts anticipate that Limoneira will post 0.13 earnings per share for the current fiscal year.

Limoneira Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, April 1st were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Thursday, March 28th. Limoneira’s dividend payout ratio is -51.72%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Limoneira by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 96,821 shares of the company’s stock worth $1,613,000 after purchasing an additional 687 shares during the last quarter. UBS Group AG increased its position in Limoneira by 12.1% during the 1st quarter. UBS Group AG now owns 6,783 shares of the company’s stock valued at $113,000 after purchasing an additional 733 shares during the period. Gabelli Funds LLC increased its position in Limoneira by 1.5% during the 1st quarter. Gabelli Funds LLC now owns 67,000 shares of the company’s stock valued at $1,116,000 after purchasing an additional 1,000 shares during the period. West Tower Group LLC purchased a new position in Limoneira during the 4th quarter valued at $26,000. Finally, Tower Research Capital LLC TRC increased its position in Limoneira by 177.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,011 shares of the company’s stock valued at $31,000 after purchasing an additional 1,285 shares during the period. Institutional investors own 64.35% 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 three divisions: Agribusiness, Rental Operations, and Real Estate Development. It grows, processes, packs, markets, and sells lemons. The company also grows avocado, oranges, and specialty citrus and other crops, including Moro blood oranges, Cara Cara oranges, Valencia oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, and wine grapes.