Equities research analysts expect Lennar Co. (NYSE:LEN) to post earnings of $0.44 per share for the current quarter, according to Zacks. Three analysts have made estimates for Lennar’s earnings, with estimates ranging from $0.38 to $0.47. Lennar posted earnings of $0.91 per share in the same quarter last year, which would indicate a negative year over year growth rate of 51.6%. The business is expected to report its next earnings report on Tuesday, June 19th.
According to Zacks, analysts expect that Lennar will report full year earnings of $4.48 per share for the current fiscal year, with EPS estimates ranging from $4.39 to $4.59. For the next year, analysts expect that the firm will report earnings of $6.69 per share, with EPS estimates ranging from $5.72 to $7.41. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Lennar.
Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, April 4th. The construction company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.35. Lennar had a net margin of 6.84% and a return on equity of 11.65%. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the firm earned $0.59 EPS. Lennar’s quarterly revenue was up 27.5% compared to the same quarter last year.
A number of analysts have recently issued reports on LEN shares. Wells Fargo upgraded shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price objective on the stock in a report on Tuesday, January 2nd. Royal Bank of Canada set a $82.00 price objective on shares of Lennar and gave the company a “buy” rating in a report on Friday, January 12th. Zacks Investment Research upgraded shares of Lennar from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. JPMorgan Chase reissued an “overweight” rating and issued a $77.00 target price on shares of Lennar in a research report on Tuesday, February 13th. Finally, Mizuho raised shares of Lennar from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. Lennar currently has an average rating of “Buy” and a consensus target price of $71.40.
LEN traded down $1.00 during trading on Monday, reaching $54.62. The company had a trading volume of 4,402,795 shares, compared to its average volume of 5,144,470. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.84 and a current ratio of 16.40. Lennar has a 12 month low of $49.34 and a 12 month high of $72.17. The firm has a market cap of $18,114.49, a P/E ratio of 14.34, a PEG ratio of 0.62 and a beta of 1.23.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 9th. Stockholders of record on Wednesday, April 25th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Tuesday, April 24th. Lennar’s dividend payout ratio is currently 4.20%.
In other news, CFO Bruce E. Gross sold 9,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $72.00, for a total value of $648,000.00. Following the completion of the transaction, the chief financial officer now owns 346,043 shares of the company’s stock, valued at $24,915,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey Sonnenfeld sold 2,095 shares of the company’s stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of $62.98, for a total value of $131,943.10. Following the completion of the transaction, the director now directly owns 32,072 shares of the company’s stock, valued at approximately $2,019,894.56. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in LEN. Stifel Financial Corp increased its position in Lennar by 31.2% during the 3rd quarter. Stifel Financial Corp now owns 12,546 shares of the construction company’s stock valued at $660,000 after purchasing an additional 2,987 shares during the period. Vident Investment Advisory LLC acquired a new stake in Lennar during the 3rd quarter valued at approximately $250,000. Janus Henderson Group PLC increased its position in Lennar by 268.3% during the 3rd quarter. Janus Henderson Group PLC now owns 162,638 shares of the construction company’s stock valued at $8,587,000 after purchasing an additional 118,482 shares during the period. California Public Employees Retirement System increased its position in Lennar by 2.5% during the 3rd quarter. California Public Employees Retirement System now owns 420,210 shares of the construction company’s stock valued at $22,187,000 after purchasing an additional 10,410 shares during the period. Finally, IFM Investors Pty Ltd acquired a new stake in Lennar during the 3rd quarter valued at approximately $275,000. 88.68% of the stock is owned by institutional investors and hedge funds.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
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