Limoneira (NASDAQ:LMNR) Announces Quarterly Dividend of $0.08
Limoneira (NASDAQ:LMNR – Get Free Report) declared a quarterly dividend on Thursday, December 21st, Wall Street Journal reports. Stockholders of record on Tuesday, January 2nd will be given a dividend of 0.075 per share on Friday, January 12th. This represents a $0.30 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, December 29th.
Limoneira has a dividend payout ratio of 136.4% 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 $0.22 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 136.4%.
Limoneira Price Performance
Shares of LMNR traded up $0.25 during midday trading on Thursday, hitting $19.19. 64,897 shares of the company traded hands, compared to its average volume of 74,915. Limoneira has a one year low of $12.01 and a one year high of $19.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 1.08. The firm has a market cap of $345.04 million, a P/E ratio of 37.14, a PEG ratio of 5.67 and a beta of 0.60. The stock has a 50-day moving average of $15.84 and a 200-day moving average of $15.51.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on Limoneira in a report on Thursday, October 5th. They issued a “sell” rating on the stock.
Get Our Latest Research Report on Limoneira
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. bought a new stake in Limoneira during the first quarter valued at about $156,000. MetLife Investment Management LLC bought a new stake in shares of Limoneira during the second quarter worth $145,000. Barclays PLC grew its stake in Limoneira by 26.6% in the 1st quarter. Barclays PLC now owns 8,561 shares of the company’s stock worth $143,000 after acquiring an additional 1,797 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Limoneira in the first quarter worth approximately $122,000. Finally, UBS Group AG grew its stake in Limoneira by 12.1% in the first quarter. UBS Group AG now owns 6,783 shares of the company’s stock worth $113,000 after purchasing an additional 733 shares in the last quarter. Institutional investors own 56.36% of the company’s stock.
About Limoneira (Get Free Report)
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, Minneola tangelos, Star Ruby grapefruit, pummelos, pistachios, and wine grapes.
Recommended Stories
NASDAQ: LMNR’ width=”650″ height=”325″ />
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Limoneira, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Limoneira wasn’t on the list.
While Limoneira currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Original: MarketBeat News Feed: Limoneira (NASDAQ:LMNR) Announces Quarterly Dividend of $0.08