Equities research analysts expect Lennar Co. (NYSE:LEN) to report earnings of $0.44 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Lennar’s earnings, with the highest EPS estimate coming in at $0.47 and the lowest estimate coming in at $0.38. Lennar posted earnings per share of $0.91 during the same quarter last year, which would suggest a negative year-over-year growth rate of 51.6%. The company is scheduled to issue its next quarterly 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 financial year, with EPS estimates ranging from $4.39 to $4.59. For the next year, analysts anticipate 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 earnings per share averages are a mean average based on a survey of research analysts 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, beating the consensus estimate of $0.76 by $0.35. Lennar had a return on equity of 11.65% and a net margin of 6.84%. The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period last year, the business posted $0.59 EPS. Lennar’s quarterly revenue was up 27.5% on a year-over-year basis.
LEN has been the topic of several analyst reports. Credit Suisse Group decreased their price objective on Lennar from $81.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, April 5th. Wedbush reissued a “neutral” rating and issued a $62.00 price objective on shares of Lennar in a research report on Thursday, April 5th. Mizuho set a $80.00 price objective on Lennar and gave the company a “buy” rating in a research report on Sunday, April 8th. Citigroup lifted their target price on Lennar from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, April 5th. Finally, Deutsche Bank dropped their target price on Lennar from $68.00 to $65.00 and set a “hold” rating on the stock in a research report on Tuesday, April 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $71.40.
Lennar stock opened at $57.64 on Monday. The company has a quick ratio of 0.84, a current ratio of 16.40 and a debt-to-equity ratio of 0.79. The firm has a market cap of $13,804.84, a price-to-earnings ratio of 15.13, a P/E/G ratio of 0.64 and a beta of 1.23. Lennar has a fifty-two week low of $49.34 and a fifty-two week high of $72.17.
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 issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Tuesday, April 24th. Lennar’s payout ratio is 4.20%.
In other Lennar news, CFO Bruce E. Gross sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $72.00, for a total value of $648,000.00. Following the transaction, the chief financial officer now directly owns 346,043 shares of the company’s stock, valued at $24,915,096. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey Sonnenfeld sold 2,095 shares of the firm’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 transaction of $131,943.10. Following the completion of the transaction, the director now directly owns 32,072 shares in the company, valued at $2,019,894.56. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.
Large investors have recently modified their holdings of the stock. Glenhill Advisors LLC acquired a new stake in Lennar in the 4th quarter valued at $66,782,000. Carillon Tower Advisers Inc. bought a new stake in shares of Lennar during the 4th quarter worth about $53,102,000. Clearbridge Investments LLC bought a new stake in shares of Lennar during the 4th quarter worth about $38,955,000. Bamco Inc. NY bought a new stake in shares of Lennar during the 4th quarter worth about $24,723,000. Finally, Westwood Management Corp IL bought a new stake in shares of Lennar during the 4th quarter worth about $18,238,000. Institutional investors and hedge funds own 88.68% of the company’s stock.
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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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