Limoneira (NASDAQ:LMNR - Get Free Report) declared that its board has authorized a stock repurchase plan on Monday, March 17th, RTT News reports. The company plans to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 8.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
LMNR has been the subject of several research reports. Lake Street Capital dropped their price target on Limoneira from $25.00 to $23.00 and set a "hold" rating for the company in a research report on Thursday, March 13th. StockNews.com raised shares of Limoneira from a "sell" rating to a "hold" rating in a report on Thursday, March 13th.
Get Our Latest Stock Report on Limoneira
Limoneira Price Performance
Shares of Limoneira stock traded down $0.24 on Friday, hitting $17.36. 131,374 shares of the company were exchanged, compared to its average volume of 49,929. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $22.11 and a 200 day moving average price of $24.89. The stock has a market capitalization of $313.26 million, a price-to-earnings ratio of 45.69 and a beta of 0.46. Limoneira has a 1-year low of $17.31 and a 1-year high of $29.22.
Limoneira Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.075 per share. The ex-dividend date is Monday, March 31st. This represents a $0.30 annualized dividend and a dividend yield of 1.73%. Limoneira's dividend payout ratio is presently 73.17%.
Limoneira Company Profile
(
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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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