Lennar Co. (NYSE:LEN) – Equities research analysts at Wedbush lowered their Q3 2018 EPS estimates for shares of Lennar in a report released on Thursday, April 5th. Wedbush analyst J. Mccanless now expects that the construction company will post earnings per share of $1.21 for the quarter, down from their prior forecast of $1.29. Wedbush currently has a “Neutral” rating and a $62.00 price target on the stock. Wedbush also issued estimates for Lennar’s Q1 2019 earnings at $0.85 EPS, Q3 2019 earnings at $1.47 EPS and FY2019 earnings at $5.72 EPS.
Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, April 4th. The construction company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.76 by $0.35. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3.05 billion. Lennar had a net margin of 6.84% and a return on equity of 13.73%. The company’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 earnings per share.
Several other analysts have also commented on LEN. Zacks Investment Research lowered shares of Lennar from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Wells Fargo upgraded shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price target on the stock in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $78.00 price target on shares of Lennar in a research report on Thursday, January 11th. Credit Suisse Group reiterated a “neutral” rating and issued a $65.00 price target (up from $57.00) on shares of Lennar in a research report on Thursday, January 11th. Finally, Royal Bank of Canada set a $82.00 price target on shares of Lennar and gave the company a “buy” rating in a research report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $68.80.
LEN stock opened at $61.58 on Friday. The company has a market capitalization of $15,074.22, a PE ratio of 16.16, a price-to-earnings-growth ratio of 0.63 and a beta of 1.23. Lennar has a 12 month low of $49.34 and a 12 month high of $72.17. The company has a current ratio of 8.42, a quick ratio of 1.67 and a debt-to-equity ratio of 0.80.
A number of large investors have recently bought and sold shares of LEN. Itau Unibanco Holding S.A. purchased a new position in Lennar during the fourth quarter worth approximately $103,000. First Personal Financial Services purchased a new position in Lennar during the fourth quarter worth approximately $140,000. Independence Bank of Kentucky purchased a new position in Lennar during the fourth quarter worth approximately $153,000. NuWave Investment Management LLC purchased a new position in Lennar during the fourth quarter worth approximately $203,000. Finally, Gotham Asset Management LLC purchased a new position in Lennar during the fourth quarter worth approximately $207,000. 88.73% of the stock is currently owned by institutional investors.
In other Lennar news, General Counsel Mark Sustana sold 125,000 shares of the stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $69.55, for a total transaction of $8,693,750.00. Following the transaction, the general counsel now owns 65,720 shares of the company’s stock, valued at $4,570,826. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Bruce E. Gross sold 9,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $72.00, for a total transaction of $648,000.00. Following the transaction, the chief financial officer now directly owns 346,043 shares in the company, valued at approximately $24,915,096. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,000 shares of company stock worth $10,811,650. 8.50% of the stock is owned by company insiders.
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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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