Limoneira (LMNR) to Issue Quarterly Dividend of $0.08 on April 11th

Limoneira (NASDAQ:LMNR) declared a quarterly dividend on Tuesday, March 18th, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.075 per share on Friday, April 11th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Monday, March 31st.

Limoneira has a dividend payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings.

Limoneira Trading Down 3.2 %

NASDAQ:LMNR traded down $0.58 on Thursday, reaching $17.60. 86,139 shares of the stock traded hands, compared to its average volume of 49,534. The company has a current ratio of 0.74, a quick ratio of 0.69 and a debt-to-equity ratio of 0.21. Limoneira has a 1-year low of $17.57 and a 1-year high of $29.22. The company’s 50 day moving average is $22.24 and its 200-day moving average is $24.94. The firm has a market capitalization of $317.59 million, a price-to-earnings ratio of 46.32 and a beta of 0.46.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LMNR shares. StockNews.com upgraded shares of Limoneira from a “sell” rating to a “hold” rating in a report on Thursday, March 13th. Lake Street Capital dropped their price objective on Limoneira from $25.00 to $23.00 and set a “hold” rating on the stock in a research note on Thursday, March 13th.

Limoneira announced that its board has authorized a stock buyback program on Monday, March 17th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the company to repurchase up to 8.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.