We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Limoneira (LMNR) Surges 5.9%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Limoneira (LMNR - Free Report) shares rallied 5.9% in the last trading session to close at $24.07. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.8% gain over the past four weeks.
Limoneira stock rally is an extension of the market's positive reaction to the ongoing developments in its Harvest real estate project and future growth potential. The rally can be attributed to several positive developments, including the expansion of its Harvest at Limoneira real estate project and promising projections for its agricultural operations. One of the key drivers of this rally is the approval by the Santa Paula City Council to increase the total number of residential units in the Harvest project from 1,500 to 2,050. This expansion includes 250 additional single-family homes in Phase 3 of Harvest.
Additionally, Limoneira's agricultural segment is poised for long-term growth, with 700 acres of young lemon and avocado trees expected to reach full production within the next four to five years. The company is also planning a significant expansion of avocado plantings over the next three years, along with increased contributions from third-party growers. As a result, Limoneira has raised its non-GAAP EBITDA outlook to $45-$55 million by fiscal 2030, up from $30 million. This growth forecast, driven by a planned 1,000-acre avocado expansion, does not include potential additional earnings from the Harvest at Limoneira project.
This agribusiness company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +1500%. Revenues are expected to be $63.85 million, up 21.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Limoneira, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on LMNR going forward to see if this recent jump can turn into more strength down the road.
Limoneira is a member of the Zacks Agriculture - Operations industry. One other stock in the same industry, Mission Produce, Inc. (AVO - Free Report) , finished the last trading session 0.7% higher at $10.61. AVO has returned -6.4% over the past month.
Mission Produce's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. Compared to the company's year-ago EPS, this represents a change of -106.7%. Mission Produce currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Limoneira (LMNR) Surges 5.9%: Is This an Indication of Further Gains?
Limoneira (LMNR - Free Report) shares rallied 5.9% in the last trading session to close at $24.07. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.8% gain over the past four weeks.
Limoneira stock rally is an extension of the market's positive reaction to the ongoing developments in its Harvest real estate project and future growth potential. The rally can be attributed to several positive developments, including the expansion of its Harvest at Limoneira real estate project and promising projections for its agricultural operations. One of the key drivers of this rally is the approval by the Santa Paula City Council to increase the total number of residential units in the Harvest project from 1,500 to 2,050. This expansion includes 250 additional single-family homes in Phase 3 of Harvest.
Additionally, Limoneira's agricultural segment is poised for long-term growth, with 700 acres of young lemon and avocado trees expected to reach full production within the next four to five years. The company is also planning a significant expansion of avocado plantings over the next three years, along with increased contributions from third-party growers. As a result, Limoneira has raised its non-GAAP EBITDA outlook to $45-$55 million by fiscal 2030, up from $30 million. This growth forecast, driven by a planned 1,000-acre avocado expansion, does not include potential additional earnings from the Harvest at Limoneira project.
This agribusiness company is expected to post quarterly earnings of $0.32 per share in its upcoming report, which represents a year-over-year change of +1500%. Revenues are expected to be $63.85 million, up 21.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Limoneira, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on LMNR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Limoneira is a member of the Zacks Agriculture - Operations industry. One other stock in the same industry, Mission Produce, Inc. (AVO - Free Report) , finished the last trading session 0.7% higher at $10.61. AVO has returned -6.4% over the past month.
Mission Produce's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. Compared to the company's year-ago EPS, this represents a change of -106.7%. Mission Produce currently boasts a Zacks Rank of #3 (Hold).