Limoneira Plans Quarterly Dividend of $0.08 (NASDAQ:LMNR)

Limoneira (NASDAQ:LMNR) announced a quarterly dividend on Thursday, December 19th,Wall Street Journal reports. Shareholders of record on Monday, December 30th will be given a dividend of 0.075 per share on Wednesday, January 15th. This represents a $0.30 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Monday, December 30th.

Limoneira has a dividend 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. 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 Trading Up 2.5 %

Shares of NASDAQ:LMNR opened at $26.30 on Friday. The company has a 50-day simple moving average of $27.03 and a 200 day simple moving average of $24.17. The company has a market capitalization of $474.77 million, a P/E ratio of 90.69 and a beta of 0.49. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 0.93. Limoneira has a 52-week low of $17.37 and a 52-week high of $29.22.

Analysts Set New Price Targets

LMNR has been the topic of several research reports. B. Riley upped their price objective on shares of Limoneira from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Lake Street Capital reissued a “hold” rating and issued a $25.00 price target on shares of Limoneira in a report on Tuesday, September 10th. Finally, StockNews.com upgraded Limoneira from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.33.

Limoneira Company Profile

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.