Lennar Corporation (NYSE:LEN) – Equities research analysts at KeyCorp cut their Q4 2017 earnings per share (EPS) estimates for Lennar Corporation in a report released on Tuesday. KeyCorp analyst K. Zener now forecasts that the construction company will earn $1.47 per share for the quarter, down from their prior forecast of $1.80. KeyCorp has a “Hold” rating on the stock.
Lennar Corporation (NYSE:LEN) last issued its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.37%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the business posted $1.01 EPS. Lennar Corporation’s revenue for the quarter was up 15.1% compared to the same quarter last year.
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Several other brokerages have also recently issued reports on LEN. BTIG Research boosted their price objective on shares of Lennar Corporation from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Argus reissued a “buy” rating and issued a $60.00 price objective (up from $57.00) on shares of Lennar Corporation in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Wednesday, July 12th. BidaskClub cut shares of Lennar Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, Royal Bank of Canada boosted their price objective on shares of Lennar Corporation from $61.00 to $64.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $57.63.
Lennar Corporation (NYSE:LEN) opened at 56.02 on Friday. The firm’s 50-day moving average is $52.50 and its 200-day moving average is $52.29. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 16.38 and a beta of 1.22. Lennar Corporation has a 52 week low of $39.68 and a 52 week high of $56.78.
A number of large investors have recently modified their holdings of the business. Norman Fields Gottscho Capital Management LLC grew its position in Lennar Corporation by 38.3% in the third quarter. Norman Fields Gottscho Capital Management LLC now owns 23,275 shares of the construction company’s stock valued at $1,229,000 after acquiring an additional 6,450 shares in the last quarter. Perpetual Ltd acquired a new stake in Lennar Corporation in the second quarter valued at approximately $2,342,000. Achmea Investment Management B.V. acquired a new stake in Lennar Corporation in the second quarter valued at approximately $314,000. Toronto Dominion Bank grew its position in Lennar Corporation by 25.5% in the second quarter. Toronto Dominion Bank now owns 68,832 shares of the construction company’s stock valued at $3,669,000 after acquiring an additional 13,992 shares in the last quarter. Finally, Psagot Investment House Ltd. grew its position in Lennar Corporation by 12.1% in the second quarter. Psagot Investment House Ltd. now owns 33,475 shares of the construction company’s stock valued at $1,785,000 after acquiring an additional 3,600 shares in the last quarter. 81.10% of the stock is owned by institutional investors.
In other Lennar Corporation news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $56.48, for a total value of $282,400.00. Following the completion of the sale, the chief financial officer now owns 376,043 shares of the company’s stock, valued at $21,238,908.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.18% of the stock is currently owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 2nd. Investors of record on Thursday, October 19th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Wednesday, October 18th. Lennar Corporation’s dividend payout ratio (DPR) is presently 4.61%.
Lennar Corporation Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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