Monday, January 28, 2013 11:27:07 AM
See the full article and content here: http://emerginggrowth.com/investing_today/limoneira-nasdaq-lmnr-solid-long-term-play/01/28/2013
120 year old Limoneira (NASDAQ: LMNR) is a relatively unknown fairly diversified agribusiness company which left the pink sheets to list on Nasdaq in 2010. The company cultivates and markets avocados, lemons and oranges yet it is also a real estate development company, and as of the end of 2011 owned 188 residential units in Santa Paula, California and 1,873 properties in various stages of development in San Luis Obispo, Santa Barbara, and Ventura California. On the ag side Limoneira owns 5,800 acres of farmland in California; including 1,766 used to grow lemons, 1,254 for avocados, and 1,062 for oranges. Total agricultural acreage owned by the company is the equivalent of nine square miles of prime farm land. The company also owns water rights associated with the land. Of interest to note is that in 2005 competitor avocado producer Calavo (NASDAQ: CVGW) and Limoneira executed a cross-equity agreement, in which Calavo acquired a 15.1 percent stake in the company, and Limoneira became CVGW’s second largest shareholder with a 6.9 percent stake. Although the companies continue to hold ownership in each other LMNR has reduced its stake in CVGW somewhat.
The company has a market cap of $243.32 million and is trading at $21.80. Q4 results are out and the numbers are not bad, though TheStreet downgraded the company this past week from a buy to hold. They cite unimpressive growth in net income, weak profit margins and poor operating cash flow as their reasoning behind the downgrade. On the plus side the revenue growth exceeded the industry average of 10.7percent. In fact revenues rose year-over year by 36.0 percent. During the past fiscal year, Limoneira upped its bottom line by earning $0.26 as opposed to $0.12 in 2011. This year analysts expect an improvement in earnings of $0.52 versus $0.26 currently, so the company is poised for growth despite disappointing profit margins and a steep decline in earnings for Q4 2012.
What may be the most compelling thing about Limoneira, it’s the company’s assets, not operating results. Perhaps when looking at this as a possible investment one should also look at the company’s solid staying power. 120 year is a long time to be around. At the moment the company is trading for 68 times earnings, and 37 times 2013 consensus estimates. The first nine months of revenue for 2012 were extremely nice, up 22.6 percent over the same period in 2011, and that trend continued for Q4 of 2012.
Not every stock is meant for every investor. We all have different styles of investing and as always I urge any perspective trader to research before they buy.
Recent LMNR News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 09/09/2024 08:05:09 PM
- Limoneira Company Announces Third Quarter Fiscal Year 2024 Financial Results • Business Wire • 09/09/2024 08:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/09/2024 08:02:13 PM
- U.S. Futures Rise Amid Inflation Report Anticipation; Oil Prices Climb on Hurricane Threat and Supply Concerns • IH Market News • 09/09/2024 10:09:14 AM
- Limoneira to Announce Third Quarter 2024 Financial Results on September 9, 2024 • Business Wire • 08/26/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/23/2024 10:04:44 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/24/2024 08:01:38 PM
- Limoneira Declares Quarterly Dividend • Business Wire • 06/26/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 08:00:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 08:00:13 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 06/06/2024 08:05:23 PM
- Limoneira Company Announces Second Quarter Fiscal Year 2024 Financial Results • Business Wire • 06/06/2024 08:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/06/2024 08:03:23 PM
- Limoneira to Announce Second Quarter 2024 Financial Results on June 6, 2024 • Business Wire • 05/23/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 12:39:24 PM
- Limoneira’s Joint Venture with Lewis Group of Companies Announces Approval for Additional 550 Dwelling Units in Harvest at Limoneira Development Project • Business Wire • 05/07/2024 12:30:00 PM
- Limoneira’s Joint Venture with The Lewis Group of Companies Announces the Closing for all of Phase 2 at Harvest at Limoneira with National Home Builder Lennar • Business Wire • 05/02/2024 12:30:00 PM
- Limoneira Declares Quarterly Dividend • Business Wire • 03/20/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 09:46:49 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 09:44:33 PM
- Limoneira Company Announces First Quarter Fiscal Year 2024 Financial Results • Business Wire • 03/07/2024 09:05:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 03/07/2024 09:04:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/07/2024 09:02:26 PM
- Limoneira to Participate at the 36th Annual ROTH Conference • Business Wire • 03/04/2024 01:30:00 PM
- Limoneira to Announce First Quarter 2024 Financial Results on March 7, 2024 • Business Wire • 02/22/2024 01:30:00 PM
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