Limoneira Co. (NASDAQ:LMNR)’s share price dropped 7.4% during trading on Thursday . The stock traded as low as $15.87 and last traded at $16.33, with a volume of 90,603 shares trading hands. The stock had previously closed at $17.64.

Separately, Zacks Investment Research downgraded Limoneira from a “buy” rating to a “hold” rating in a report on Tuesday.

The firm has a market capitalization of $231.53 million and a P/E ratio of 87.33. The firm’s 50 day moving average is $18.11 and its 200-day moving average is $16.12.

Limoneira (NASDAQ:LMNR) last released its quarterly earnings data on Thursday, June 9th. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.14. The firm earned $27.40 million during the quarter, compared to analyst estimates of $28.40 million. During the same quarter in the previous year, the business earned $0.17 EPS. Limoneira’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts anticipate that Limoneira Co. will post $0.33 EPS for the current fiscal year.

Limoneira Company is an agribusiness and real estate development company. The Company’s operations consist of fruit production, sales and marketing, rental operations, real estate development and capital investment activities. The Company has three business segments: agribusiness, rental operations and real estate development.

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