LMNR Stock Overview
Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally.
Price History & Performance
|Historical stock prices|
|Current Share Price||US$12.65|
|52 Week High||US$16.71|
|52 Week Low||US$10.44|
|1 Month Change||-4.31%|
|3 Month Change||-12.40%|
|1 Year Change||-18.18%|
|3 Year Change||-29.53%|
|5 Year Change||-46.71%|
|Change since IPO||462.22%|
Recent News & Updates
Limoneira: The Citrus King
Summary Limoneira stock has been great for trading and we think you should consider scaling in on the next bout of weakness. Operating income increased over 200% and the top line jumped 20%, driven by record avocado revenues and increased fresh lemon sales in Q3. The real estate side of the business is helping cash flow. The One World of Citrus plan is increasing cash flow dramatically. Limoneira (LMNR) is a diversified citrus growing, packing, selling and marketing company with related agribusiness activities and real estate development operations. Lemons and avocados are two main staples of the business. With the growing popularity of the high fat keto diet, avocado demand has surged. The stock has been a tough investment, but has been great to trade. We think on the next leg lower you start buying for a trade. The company has some debt, but is battling inflationary costs quite well. The company is upping avocado plantings and strategically selling certain assets to dramatically increase cash flow. That is one thing people do not realize about this company, it not only is a produce type company (and we love the mantra that people need to eat), but they also have a very lucrative portfolio of real estate assets. We think the stock can be bought into weakness for a run higher. Let us discuss. The play Here at BAD BEAT we like to give you the direct plays we are running. No guesswork. Here is how we would play this: Target entry 1: $12.60-$12.80 (33% of a position) Target entry 2: $12.00-$12.20 (33% of a position) Target entry 3: $11.25-$11.50 (33% of a position) Target exit: $15+ Stop loss: $9.90 Discussion So there you have the way we would play this. It is possible you only get one entry, and make a good profit, high quality problem. You still made money. We like scaling in versus buying all at once. It is a big mistake to buy all at once in our opinion. This name is ripe for a trade. Performance has been strong. The company had just started to rebound from the COVID crisis that had lasting impacts and things were seemingly about to be back to normal when the markets took it on the chin starting back in February of this year. It has been a long bear market. Inflation has been horrible, and food prices have rocketed higher. While labor costs and supply costs have risen for the company, the selling price of its products has been mixed, but the company is operating efficiently. In its just reported Q3, the company actually beat consensus estimates on the top and bottom line. After lots of damage to the earnings potential of the company from the pandemic, and then from a tough growing season in 2021, the company has bounced back (even though the stock really has not, though we are off the lows). Revenue jumped year-over-year. While the company still pays a dividend, the selloff in shares has brought the yield to a respectable 2.3%. With bonds falling bond yields have risen so this yield is not impressive, but is a nice bonus for what should really be a growth company. The company has of course increased the size of its acreage year after year, on average, though is selling some now. For years there was a ton of CAPEX spending and a good amount of long-term debt, about $129 million of it. There were a lot of positives in Q3, including the company seeing solid sales and earnings. Total net revenue was $58.9 million, compared to total net revenue of $49.1 million a year ago. A nice 20% jump! Agribusiness revenue was $57.6 million, compared to $48.0 million in the third quarter of last year. Other operations (like specialty citrus and other crops) revenue was similar to the prior fiscal year at $1.3 million. Citrus drives a chunk of sales. Fresh lemon revenue rose to $27.8 million, compared to $24.4 million during the 2021 quarter. Volumes were up significantly with restaurant and food service demand being strong. While volume was strong, fresh lemon pricing was down. Further, supply chain and freight costs are up as is labor. That said, with fresh lemon pricing was down to $18.39 per carton from $21.34 average price per carton a year ago which was a bit of a surprise. But the volumes surged. The company sold 1.512 million cartons vs. 1.144 million cartons a year ago. But growth was not only in lemons. The company saw a brand new record for avocado sales. Winning. In fact there was $12.6 million of avocado revenue, tripling from $4.1 million a year ago. This was due to a massive increase in volume and much higher pricing. Last year only 3.5 million pounds of avocados were sold, while this year volumes normalized and were 5.7 million pounds last year. However, pricing was up 91%. The average price per pound was $2.21 compared to a $1.16 average price per pound last year. The main reason for this was the lower sized avocado due to California droughts. This is a one-time headwind. Orange revenue was strong as well, rising to $3.7 million up from $2.0 million a year ago. Volumes here were much lower than a year ago, but pricing skyrocketed. They sold 0.209 million cartons of oranges at a $17. average price per carton, compared to approximately 0.259 million cartons sold at a $17.88 average price per carton.
|LMNR||US Food||US Market|
Return vs Industry: LMNR underperformed the US Food industry which returned 0.6% over the past year.
Return vs Market: LMNR exceeded the US Market which returned -23.7% over the past year.
|LMNR Average Weekly Movement||5.4%|
|Food Industry Average Movement||5.7%|
|Market Average Movement||6.9%|
|10% most volatile stocks in US Market||15.7%|
|10% least volatile stocks in US Market||2.8%|
Stable Share Price: LMNR is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: LMNR's weekly volatility (5%) has been stable over the past year.
About the Company
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.
Limoneira Fundamentals Summary
|LMNR fundamental statistics|
Is LMNR overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|LMNR income statement (TTM)|
|Cost of Revenue||US$159.16m|
Last Reported Earnings
Jul 31, 2022
Next Earnings Date
|Earnings per share (EPS)||-0.17|
|Net Profit Margin||-1.67%|
How did LMNR perform over the long term?See historical performance and comparison
2.4%Current Dividend Yield
Is LMNR undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 2/6
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for LMNR?
Other financial metrics that can be useful for relative valuation.
|What is LMNR's n/a Ratio?|
Price to Sales Ratio vs Peers
How does LMNR's PS Ratio compare to its peers?
|LMNR PS Ratio vs Peers|
|Company||PS||Estimated Growth||Market Cap|
LOCL Local Bounti
BHIL Benson Hill
Price-To-Sales vs Peers: LMNR is good value based on its Price-To-Sales Ratio (1.3x) compared to the peer average (13.1x).
Price to Earnings Ratio vs Industry
How does LMNR's PE Ratio compare vs other companies in the US Food Industry?
Price-To-Sales vs Industry: LMNR is expensive based on its Price-To-Sales Ratio (1.3x) compared to the US Food industry average (1.1x)
Price to Sales Ratio vs Fair Ratio
What is LMNR's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PS Ratio||1.3x|
|Fair PS Ratio||0.6x|
Price-To-Sales vs Fair Ratio: LMNR is expensive based on its Price-To-Sales Ratio (1.3x) compared to the estimated Fair Price-To-Sales Ratio (0.6x).
Share Price vs Fair Value
What is the Fair Price of LMNR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: LMNR ($12.65) is trading above our estimate of fair value ($2.55)
Significantly Below Fair Value: LMNR is trading above our estimate of fair value.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
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How is Limoneira forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Future Growth Score3/6
Future Growth Score 3/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LMNR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).
Earnings vs Market: LMNR is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: LMNR is expected to become profitable in the next 3 years.
Revenue vs Market: LMNR's revenue (5.1% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: LMNR's revenue (5.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if LMNR's Return on Equity is forecast to be high in 3 years time
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How has Limoneira performed over the past 5 years?
Past Performance Score0/6
Past Performance Score 0/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LMNR is currently unprofitable.
Growing Profit Margin: LMNR is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: LMNR is unprofitable, and losses have increased over the past 5 years at a rate of 52.7% per year.
Accelerating Growth: Unable to compare LMNR's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: LMNR is unprofitable, making it difficult to compare its past year earnings growth to the Food industry (0.3%).
Return on Equity
High ROE: LMNR has a negative Return on Equity (-1.21%), as it is currently unprofitable.
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How is Limoneira's financial position?
Financial Health Score1/6
Financial Health Score 1/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: LMNR's short term assets ($42.4M) exceed its short term liabilities ($38.1M).
Long Term Liabilities: LMNR's short term assets ($42.4M) do not cover its long term liabilities ($158.9M).
Debt to Equity History and Analysis
Debt Level: LMNR's net debt to equity ratio (67%) is considered high.
Reducing Debt: LMNR's debt to equity ratio has increased from 67.4% to 67.5% over the past 5 years.
Debt Coverage: LMNR's debt is not well covered by operating cash flow (2.8%).
Interest Coverage: Insufficient data to determine if LMNR's interest payments on its debt are well covered by EBIT.
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What is Limoneira current dividend yield, its reliability and sustainability?
Dividend Score 3/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
|Limoneira Dividend Yield vs Market|
|Market Bottom 25% (US)||1.7%|
|Market Top 25% (US)||4.7%|
|Industry Average (Food)||2.7%|
|Analyst forecast in 3 Years (Limoneira)||2.4%|
Notable Dividend: LMNR's dividend (2.37%) is higher than the bottom 25% of dividend payers in the US market (1.67%).
High Dividend: LMNR's dividend (2.37%) is low compared to the top 25% of dividend payers in the US market (4.68%).
Stability and Growth of Payments
Stable Dividend: LMNR's dividends per share have been stable in the past 10 years.
Growing Dividend: LMNR's dividend payments have increased over the past 10 years.
Earnings Payout to Shareholders
Earnings Coverage: LMNR is paying a dividend but the company is unprofitable.
Cash Payout to Shareholders
Cash Flow Coverage: LMNR is paying a dividend but the company has no free cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Harold Edwards (56 yo)
Mr. Harold S. Edwards has been the Chief Executive Officer and President at Limoneira Company since November 2003. Mr. Edwards has been a Director of Limoneira Company since 2009. Mr. Edwards served as the...
CEO Compensation Analysis
|Harold Edwards's Compensation vs Limoneira Earnings|
|Date||Total Comp.||Salary||Company Earnings|
|Jul 31 2022||n/a||n/a|
|Apr 30 2022||n/a||n/a|
|Jan 31 2022||n/a||n/a|
|Oct 31 2021||US$1m||US$640k|
|Jul 31 2021||n/a||n/a|
|Apr 30 2021||n/a||n/a|
|Jan 31 2021||n/a||n/a|
|Oct 31 2020||US$1m||US$663k|
|Jul 31 2020||n/a||n/a|
|Apr 30 2020||n/a||n/a|
|Jan 31 2020||n/a||n/a|
|Oct 31 2019||US$2m||US$615k|
|Jul 31 2019||n/a||n/a|
|Apr 30 2019||n/a||n/a|
|Jan 31 2019||n/a||n/a|
|Oct 31 2018||US$2m||US$588k|
|Jul 31 2018||n/a||n/a|
|Apr 30 2018||n/a||n/a|
|Jan 31 2018||n/a||n/a|
|Oct 31 2017||US$864k||US$560k|
|Jul 31 2017||n/a||n/a|
|Apr 30 2017||n/a||n/a|
|Jan 31 2017||n/a||n/a|
|Oct 31 2016||US$840k||US$534k|
|Jul 31 2016||n/a||n/a|
|Apr 30 2016||n/a||n/a|
|Jan 31 2016||n/a||n/a|
|Oct 31 2015||US$672k||US$519k|
Compensation vs Market: Harold's total compensation ($USD1.32M) is about average for companies of similar size in the US market ($USD1.68M).
Compensation vs Earnings: Harold's compensation has been consistent with company performance over the past year.
Experienced Management: LMNR's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.
Experienced Board: LMNR's board of directors are considered experienced (9 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: LMNR insiders have only sold shares in the past 3 months.
Recent Insider Transactions
|28 Jun 22||SellUS$57,320||Mark Palamountain||Individual||4,000||US$14.33|
|15 Mar 22||BuyUS$527,917||Jesus Loza||Individual||41,300||US$12.80|
|18 Jan 22||BuyUS$132,041||Jesus Loza||Individual||8,791||US$15.02|
|18 Jan 22||SellUS$72,706||Mark Palamountain||Individual||4,823||US$15.07|
|14 Jan 22||SellUS$22,520||Alex Teague||Individual||1,500||US$15.01|
|11 Jan 22||SellUS$186,484||Donald Rudkin||Individual||11,648||US$16.01|
|06 Oct 21||BuyUS$156,500||Jesus Loza||Individual||10,000||US$15.65|
|Owner Type||Number of Shares||Ownership Percentage|
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
|Ownership||Name||Shares||Current Value||Change %||Portfolio %|
Limoneira Company's employee growth, exchange listings and data sources
- Name: Limoneira Company
- Ticker: LMNR
- Exchange: NasdaqGS
- Founded: 1893
- Industry: Agricultural Products
- Sector: Food, Beverage & Tobacco
- Implied Market Cap: US$224.178m
- Shares outstanding: 17.72m
- Website: https://www.limoneira.com
Number of Employees
- Limoneira Company
- 1141 Cummings Road
- Santa Paula
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|LMNR||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Nov 1994|
|2L2||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Nov 1994|
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/09/27 00:00|
|End of Day Share Price||2022/09/27 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.