Lennar Corporation (LEN) Expected to Post Earnings of $1.50 Per Share
Equities research analysts predict that Lennar Corporation (NYSE:LEN) will post earnings of $1.50 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Lennar Corporation’s earnings. The highest EPS estimate is $1.55 and the lowest is $1.47. Lennar Corporation reported earnings per share of $1.34 in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.9%. The business is expected to announce its next earnings results on Monday, December 18th.
On average, analysts expect that Lennar Corporation will report full year earnings of $3.66 per share for the current financial year, with EPS estimates ranging from $3.62 to $3.70. For the next financial year, analysts anticipate that the company will report earnings of $4.85 per share, with EPS estimates ranging from $4.58 to $5.15. Zacks’ EPS calculations are an average based on a survey of analysts that follow Lennar Corporation.
Lennar Corporation (NYSE:LEN) last released its quarterly earnings data on Tuesday, October 3rd. The company reported C$1.06 EPS for the quarter, beating the consensus estimate of C$1.01 by C$0.05. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. The company had revenue of C$3.26 billion for the quarter, compared to analyst estimates of C$3.25 billion. During the same period last year, the company posted $1.01 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year.
A number of brokerages have recently issued reports on LEN. Argus reaffirmed a “buy” rating and set a $60.00 target price (up from $57.00) on shares of Lennar Corporation in a research report on Tuesday, July 25th. Mizuho lowered Lennar Corporation from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $59.00 to $53.00 in a research report on Tuesday, September 19th. MKM Partners reaffirmed a “neutral” rating on shares of Lennar Corporation in a research report on Tuesday, September 5th. BTIG Research lifted their target price on Lennar Corporation from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Finally, JMP Securities raised Lennar Corporation from a “market perform” rating to an “outperform” rating in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of C$57.93.
In other Lennar Corporation news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of C$56.48, for a total value of C$282,400.00. Following the completion of the transaction, the chief financial officer now directly owns 376,043 shares in the company, valued at C$21,238,908.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 12.18% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Zeke Capital Advisors LLC acquired a new position in Lennar Corporation in the third quarter valued at approximately $267,000. Trexquant Investment LP acquired a new position in Lennar Corporation in the third quarter valued at approximately $567,000. Capital Growth Management LP boosted its stake in Lennar Corporation by 28.2% in the third quarter. Capital Growth Management LP now owns 1,090,000 shares of the company’s stock valued at $57,552,000 after acquiring an additional 240,000 shares during the period. Eagle Asset Management Inc. boosted its stake in Lennar Corporation by 2.8% in the third quarter. Eagle Asset Management Inc. now owns 1,076,505 shares of the company’s stock valued at $56,860,000 after acquiring an additional 29,016 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in Lennar Corporation by 2.6% in the third quarter. Great West Life Assurance Co. Can now owns 139,387 shares of the company’s stock valued at $7,271,000 after acquiring an additional 3,495 shares during the period. Institutional investors own 80.11% of the company’s stock.
Lennar Corporation (NYSE LEN) opened at C$58.71 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. Lennar Corporation has a 52-week low of C$40.94 and a 52-week high of C$59.32. The company has a market capitalization of $13,812.11, a PE ratio of 15.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Thursday, October 19th were paid a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, October 18th. This represents a $0.16 dividend on an annualized basis and a yield of 0.27%. Lennar Corporation’s payout ratio is currently 4.61%.
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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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