Wall Street brokerages expect Lennar Co. (NYSE:LEN) to announce earnings per share (EPS) of $1.90 for the current quarter, Zacks reports. Four analysts have made estimates for Lennar’s earnings, with estimates ranging from $1.87 to $1.92. Lennar posted earnings per share of $1.96 during the same quarter last year, which suggests a negative year over year growth rate of 3.1%. The company is scheduled to issue its next earnings results on Wednesday, January 8th.
According to Zacks, analysts expect that Lennar will report full year earnings of $5.49 per share for the current year, with EPS estimates ranging from $5.30 to $5.57. For the next year, analysts forecast that the firm will post earnings of $5.99 per share, with EPS estimates ranging from $5.79 to $6.28. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Lennar.
Lennar (NYSE:LEN) last released its earnings results on Wednesday, October 2nd. The construction company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.27. Lennar had a net margin of 9.06% and a return on equity of 12.10%. The business had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period last year, the business earned $1.61 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis.
Several equities research analysts have issued reports on LEN shares. Seaport Global Securities started coverage on Lennar in a report on Friday, August 23rd. They set a “buy” rating and a $71.00 price target for the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Lennar in a report on Monday. Royal Bank of Canada raised their price target on Lennar from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. BTIG Research raised their price target on Lennar from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Buckingham Research raised their price target on Lennar from $60.00 to $67.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $60.47.
Shares of Lennar stock opened at $59.13 on Wednesday. The business has a fifty day simple moving average of $59.63 and a two-hundred day simple moving average of $53.73. Lennar has a 1 year low of $37.29 and a 1 year high of $62.63. The company has a market capitalization of $18.66 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 1.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.59, a current ratio of 14.19 and a quick ratio of 0.79.
In other news, Director Irving Bolotin sold 5,000 shares of Lennar stock in a transaction on Friday, October 11th. The stock was sold at an average price of $58.90, for a total transaction of $294,500.00. Following the completion of the sale, the director now owns 31,692 shares of the company’s stock, valued at $1,866,658.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $56.00, for a total value of $1,120,000.00. The disclosure for this sale can be found here. Insiders have sold 51,126 shares of company stock valued at $2,954,819 in the last three months. Insiders own 8.43% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its stake in Lennar by 21.6% in the second quarter. Commonwealth Equity Services LLC now owns 10,027 shares of the construction company’s stock valued at $485,000 after purchasing an additional 1,781 shares in the last quarter. Creative Planning raised its stake in Lennar by 12.5% in the second quarter. Creative Planning now owns 6,360 shares of the construction company’s stock valued at $308,000 after purchasing an additional 706 shares in the last quarter. First Trust Advisors LP raised its stake in Lennar by 14.1% in the second quarter. First Trust Advisors LP now owns 450,179 shares of the construction company’s stock valued at $21,816,000 after purchasing an additional 55,484 shares in the last quarter. AGF Investments LLC raised its stake in Lennar by 45.9% in the second quarter. AGF Investments LLC now owns 6,219 shares of the construction company’s stock valued at $301,000 after purchasing an additional 1,956 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in Lennar by 54.3% in the second quarter. Janus Henderson Group PLC now owns 206,324 shares of the construction company’s stock valued at $9,997,000 after purchasing an additional 72,637 shares in the last quarter. 86.26% of the stock is owned by institutional investors.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's 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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