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. Stockholders 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 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Monday, March 31st.

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

Limoneira Trading Down 1.8 %

Shares of NASDAQ:LMNR opened at $17.56 on Friday. The company has a 50-day simple moving average of $21.46 and a 200 day simple moving average of $24.59. The company has a market capitalization of $316.87 million, a P/E ratio of 46.21 and a beta of 0.46. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.69 and a current ratio of 0.74. Limoneira has a 52-week low of $17.12 and a 52-week high of $29.22.

Analysts Set New Price Targets

A number of research analysts recently commented on LMNR shares. StockNews.com upgraded shares of Limoneira to a “sell” rating in a research note on Friday. Lake Street Capital lowered their target price 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 declared that its board has approved a stock buyback plan on Monday, March 17th that authorizes the company to repurchase $30.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase 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 shares are undervalued.

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.