Lennar Co. (NYSE:LEN) – Equities researchers at Wedbush boosted their Q1 2019 EPS estimates for shares of Lennar in a research report issued on Tuesday, June 26th. Wedbush analyst J. Mccanless now anticipates that the construction company will earn $0.90 per share for the quarter, up from their prior forecast of $0.85. Wedbush currently has a “Neutral” rating and a $56.00 target price on the stock. Wedbush also issued estimates for Lennar’s Q2 2019 earnings at $1.36 EPS, Q3 2019 earnings at $1.69 EPS, Q4 2019 earnings at $2.20 EPS and FY2019 earnings at $6.16 EPS.
Lennar (NYSE:LEN) last posted its quarterly earnings results on Tuesday, June 26th. The construction company reported $1.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $1.13. The company had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.10 billion. Lennar had a return on equity of 14.18% and a net margin of 6.49%. The firm’s quarterly revenue was up 67.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 EPS.
A number of other research analysts also recently weighed in on LEN. Zacks Investment Research downgraded Lennar from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. ValuEngine downgraded Lennar from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th. Argus increased their price target on Lennar from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 1st. Credit Suisse Group set a $81.00 price target on Lennar and gave the company a “buy” rating in a research note on Wednesday, April 4th. Finally, Citigroup raised their price objective on Lennar from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, April 5th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. Lennar presently has an average rating of “Buy” and a consensus price target of $71.63.
Lennar opened at $51.26 on Thursday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.84 and a current ratio of 16.40. The firm has a market capitalization of $16.81 billion, a PE ratio of 13.45, a P/E/G ratio of 0.58 and a beta of 1.25. Lennar has a twelve month low of $48.71 and a twelve month high of $72.17.
A number of hedge funds have recently added to or reduced their stakes in LEN. Raymond James Financial Services Advisors Inc. increased its holdings in Lennar by 52.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 24,973 shares of the construction company’s stock worth $1,579,000 after purchasing an additional 8,554 shares in the last quarter. FDx Advisors Inc. increased its holdings in Lennar by 7.6% during the 4th quarter. FDx Advisors Inc. now owns 17,079 shares of the construction company’s stock worth $1,080,000 after purchasing an additional 1,212 shares in the last quarter. First Republic Investment Management Inc. increased its holdings in Lennar by 43.8% during the 4th quarter. First Republic Investment Management Inc. now owns 22,793 shares of the construction company’s stock worth $1,441,000 after purchasing an additional 6,946 shares in the last quarter. Amalgamated Bank increased its holdings in Lennar by 9.8% during the 4th quarter. Amalgamated Bank now owns 25,169 shares of the construction company’s stock worth $1,592,000 after purchasing an additional 2,248 shares in the last quarter. Finally, Harwood Advisory Group LLC bought a new position in Lennar during the 4th quarter worth about $2,120,000. Hedge funds and other institutional investors own 86.22% of the company’s stock.
In other Lennar news, SVP Jeffrey Joseph Mccall sold 50,887 shares of the stock in a transaction dated Wednesday, May 23rd. The stock was sold at an average price of $50.70, for a total transaction of $2,579,970.90. Following the completion of the transaction, the senior vice president now owns 190,052 shares in the company, valued at approximately $9,635,636.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Sonnenfeld sold 2,095 shares of the stock in a transaction dated Friday, April 6th. The stock was sold at an average price of $62.98, for a total value of $131,943.10. Following the transaction, the director now 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. In the last quarter, insiders have sold 103,870 shares of company stock valued at $5,455,795. Corporate insiders own 8.50% of the company’s stock.
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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