Limoneira (NASDAQ:LMNR - Get Free Report) announced a quarterly dividend on Thursday, December 19th,Wall Street Journal reports. Shareholders of record on Monday, December 30th will be paid a dividend of 0.075 per share on Wednesday, January 15th. This represents a $0.30 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Monday, December 30th.
Limoneira has a payout ratio of 130.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 NASDAQ LMNR traded up $0.30 during midday trading on Thursday, reaching $25.66. 46,681 shares of the company traded hands, compared to its average volume of 44,887. Limoneira has a 12 month low of $17.37 and a 12 month high of $29.22. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.93. The stock's 50-day simple moving average is $27.03 and its 200-day simple moving average is $24.17. The firm has a market cap of $463.21 million, a PE ratio of 88.48 and a beta of 0.49.
Wall Street Analysts Forecast Growth
LMNR has been the subject of several analyst reports. Lake Street Capital reissued a "hold" rating and set a $25.00 price target on shares of Limoneira in a report on Tuesday, September 10th. StockNews.com upgraded shares of Limoneira from a "sell" rating to a "hold" rating in a research note on Wednesday, September 11th. Finally, B. Riley increased their price target on Limoneira from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Limoneira currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.33.
View Our Latest Research Report on Limoneira
About Limoneira
(
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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.
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