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Last $20.33 USD
Change Today -0.20 / -0.97%
Volume 15.4K
As of 8:10 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

limoneira co (LMNR) Snapshot

Open
$20.53
Previous Close
$20.53
Day High
$20.68
Day Low
$20.23
52 Week High
11/28/14 - $26.23
52 Week Low
07/27/15 - $19.77
Market Cap
287.1M
Average Volume 10 Days
22.8K
EPS TTM
$0.48
Shares Outstanding
14.1M
EX-Date
07/1/15
P/E TM
42.4x
Dividend
$0.18
Dividend Yield
0.89%
Current Stock Chart for LIMONEIRA CO (LMNR)

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limoneira co (LMNR) Details

Limoneira Company operates as an agribusiness and real estate development company in the United States and internationally. The company operates in three segments: Agribusiness, Rental Operations, and Real Estate Development. The Agribusiness segment engages in farming and lemon packing and sales operations. This segment grows lemons, avocados, oranges, and various specialty citrus and other crops, such as Moro blood oranges, Cara Cara oranges, Minneola tangelos, Star Ruby grapefruit, pummelos, pistachios, cherries, peaches, plums, and olives, as well as packs and sells lemons grown by others. This segment markets and sells lemons directly to food service, wholesale, and retail customers. It has approximately 4,000 acres of lemons, 1,200 acres of avocados, 1,400 acres of oranges, and 700 acres of specialty citrus and other crops in Ventura, Tulare, and San Bernardino counties in California and in Yuma County in Arizona. The Rental Operations segment rents residential and commercial properties, such as office buildings and a multi-use facility consisting of a retail convenience store, gas station, car wash, and quick-serve restaurant; and leases approximately 600 acres of land to third party agricultural tenants. This segment is also involved in organic recycling activities. The Real Estate Development segment develops land parcels, multi-family housing, and single-family homes with approximately 1,800 units in various stages of planning and development. Limoneira Company was founded in 1893 and is headquartered in Santa Paula, California.

331 Employees
Last Reported Date: 01/12/15
Founded in 1893

limoneira co (LMNR) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $494.0K
Chief Financial Officer, Treasurer and Secret...
Total Annual Compensation: $286.0K
Chief Operating Officer and Senior Vice Presi...
Total Annual Compensation: $338.0K
Compensation as of Fiscal Year 2014.

limoneira co (LMNR) Key Developments

Limoneira Company Enters into Purchase Agreement to Acquire 157 Acres of Lemon

Limoneira Company announced that it has entered into a purchase agreement to acquire 157 acres of lemon, orange and specialty citrus orchards in San Joaquin Valley for approximately $3.3 million. The transaction is expected to close in 60 days. The orchards are being acquired pursuant to purchase options contained in certain operating leases the company has had since 2012 for approximately 1,000 acres of lemon, orange, specialty citrus and other crops, which the Company refers to as the Sheldon Ranch leases. The lease agreements include base rent of $500 per acre and contingent rent of 50% of the operating profit of the leased property as defined in the lease agreements. Total rent expense for fiscal year 2015 on the acquired properly is estimated to be $100,000 on the expected closing date of the transaction and was $231,000 for fiscal year 2014. The estimated proceeds of $2.8 million from the previously announced sale of the Wilson Ranch, which is expected to close in August 2015, will be used to acquire the 157 acres of citrus orchards. The sale of the 52 acre Wilson Ranch and purchase of the 157 acres of citrus orchards qualifies as a like-kind exchange and will allow the Company to defer approximately $1.0 million of gain for tax purposes.

Limoneira Company Declares Quarterly Cash Dividend, Payable on July 15, 2015

The Board of Directors of Limoneira Company declared a quarterly cash dividend of $0.045 per common share payable on July 15, 2015, to stockholders of record on July 6, 2015.

Limoneira Co. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended April 30, 2015; Revises Earnings Guidance for the Full Year of Fiscal 2015; Revises Operating Guidance for the Full Year of Fiscal 2015

Limoneira Co. announced unaudited consolidated earnings results for the second quarter and six months ended April 30, 2015. For the quarter, the company announced total revenues of $28,277,000 compared to $24,802,000 for the same period a year ago. Operating income was $4,140,000 compared to $3,230,000 for the same period a year ago. Income before income tax provision was $4,019,000 compared to $3,258,000 for the same period a year ago. Net income was $2,563,000 compared to $2,113,000 for the same period a year ago. Net income applicable to common stock was $2,405,000 compared to $2,048,000 for the same period a year ago. Basic and diluted net income per common share was $0.17 compared to $0.15 for the same period a year ago. EBITDA was $5,044,000 compared to $4,084,000 for the same period a year ago. For the six months, the company announced total revenues of $56,288,000 compared to $50,684,000 for the same period a year ago. Operating income was $1,623,000 compared to $1,037,000 for the same period a year ago. Income before income tax provision was $1,816,000 compared to $1,322,000 for the same period a year ago. Net income was $1,115,000 compared to $894,000 for the same period a year ago. Net income applicable to common stock was $798,000 compared to $763,000 for the same period a year ago. Basic and diluted net income per common share was $0.06 compared to $0.05 for the same period a year ago. During the first six months of fiscal year 2015, net cash used in operating activities was $1.5 million, compared to net cash provided by operating activities of $2.7 million in the same period of the prior year. Net cash used in investing activities was $16.4 million in the first six months of fiscal year 2015, compared to $9.4 million in the same period of the prior year, primarily related to the company's investments in the expansion of its lemon packing facilities and additional farm worker housing units, as well as investments in real estate development projects. EBITDA was $3,842,000 compared to $2,945,000 for the same period a year ago. The company revised operating guidance for the full year of fiscal 2015. Due to a decrease in the estimated 2015 lemon harvest compared to what was previously anticipated, the company is decreasing the number of cartons of fresh lemons that it expects to sell in fiscal year 2015 to approximately 2.8 million cartons of fresh lemons at an average per carton price of $25.00 from its previous guidance of 3.0 million cartons of fresh lemons at an average per carton price of $24.00. Lower expected production volume is due to continued dry weather, which has hindered fruit sizing. In addition, the company is lowering the number of pounds of avocados it expects to sell to approximately 6.5 to 7.0 million pounds of avocados at approximately $0.90 per pound, compared to the company's previous guidance of 6.5 to 7.5 million pounds at approximately $1.00 per pound. Estimated avocado production reflects the effects of freeze damage that occurred on one the company's orchards. The company is also anticipating orange and specialty citrus and other crop revenue to be less in fiscal year 2015 compared to fiscal year 2014, mainly due to lower prices. The company revised earnings guidance for the full year of fiscal 2015. The company expects to earn approximately $7.6 million to $8.1 million in operating income for fiscal year 2015 compared to previous guidance of $9.4 million to $10.2 million. Fiscal year 2015 income before tax is expected to be approximately $8.8 million to $9.3 million compared to previous guidance of $10.4 million to $11.1 million. The company expects fiscal year 2015 earnings per diluted share to be in the range of $0.36 to $0.40, compared to previous guidance of $0.42 to $0.46. Fiscal year 2015 income before tax and earnings per share guidance includes the estimated gain of approximately $1.0 million on the expected third quarter sale of the Wilson Ranch. The lowered guidance is a result of lower-than-expected production of lemons, avocados for 2015.

 

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Industry Analysis

LMNR

Industry Average

Valuation LMNR Industry Range
Price/Earnings 44.1x
Price/Sales 2.7x
Price/Book 2.4x
Price/Cash Flow 40.2x
TEV/Sales 1.7x
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