FY2017 EPS Estimates for Lennar Co. Decreased by Analyst (LEN)
Lennar Co. (NYSE:LEN) – Stock analysts at KeyCorp decreased their FY2017 EPS estimates for Lennar in a research report issued to clients and investors on Tuesday. KeyCorp analyst K. Zener now expects that the construction company will post earnings of $4.01 per share for the year, down from their prior forecast of $4.23. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Lennar’s FY2018 earnings at $4.88 EPS.
Lennar (NYSE:LEN) last posted its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.05. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Lennar had a net margin of 7.47% and a return on equity of 13.30%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.01 earnings per share.
Several other brokerages also recently issued reports on LEN. Citigroup Inc. restated a “neutral” rating and issued a $59.00 price objective (up previously from $57.00) on shares of Lennar in a research note on Wednesday, October 4th. MKM Partners raised Lennar from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Wednesday, October 4th. BTIG Research raised their target price on Lennar from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Bank of America Corporation raised their target price on Lennar from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, Mizuho reaffirmed a “buy” rating on shares of Lennar in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $57.63.
Shares of Lennar (NYSE:LEN) opened at 56.05 on Thursday. The company has a 50-day moving average of $52.33 and a 200 day moving average of $52.25. The firm has a market capitalization of $13.14 billion, a PE ratio of 16.38 and a beta of 1.22. Lennar has a 12-month low of $39.68 and a 12-month high of $56.78.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 2nd. Investors of record on Thursday, October 19th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, October 18th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.29%. Lennar’s dividend payout ratio is 4.61%.
In related news, CFO Bruce E. Gross sold 5,000 shares of Lennar stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $56.48, for a total value of $282,400.00. Following the completion of the transaction, the chief financial officer now directly owns 376,043 shares of the company’s stock, valued at $21,238,908.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.18% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. raised its holdings in shares of Lennar by 8.9% in the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after buying an additional 155 shares during the last quarter. Commonwealth Bank of Australia increased its position in Lennar by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after purchasing an additional 530 shares during the period. Washington Trust Bank increased its position in Lennar by 47.6% in the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock worth $131,000 after purchasing an additional 794 shares during the period. QS Investors LLC increased its position in Lennar by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after purchasing an additional 25 shares during the period. Finally, MUFG Americas Holdings Corp increased its position in Lennar by 7.3% in the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after purchasing an additional 220 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Stock Ratings for Lennar Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Co. and related stocks with our FREE daily email newsletter.