Lennar Co. (LEN) Expected to Post Quarterly Sales of $2.62 Billion
Equities research analysts expect Lennar Co. (NYSE:LEN) to announce $2.62 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Lennar’s earnings, with the lowest sales estimate coming in at $2.49 billion and the highest estimate coming in at $2.75 billion. Lennar posted sales of $2.34 billion in the same quarter last year, which suggests a positive year over year growth rate of 12%. The company is scheduled to issue its next quarterly earnings report on Monday, April 9th.
According to Zacks, analysts expect that Lennar will report full-year sales of $2.62 billion for the current fiscal year, with estimates ranging from $14.08 billion to $14.37 billion. For the next financial year, analysts anticipate that the business will report sales of $15.45 billion per share, with estimates ranging from $15.13 billion to $15.77 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Lennar.
Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.21). The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.59 billion. Lennar had a net margin of 6.41% and a return on equity of 12.00%. Lennar’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.34 earnings per share.
Shares of Lennar (NYSE LEN) opened at $59.11 on Friday. The company has a quick ratio of 1.67, a current ratio of 8.42 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $14,329.69, a price-to-earnings ratio of 15.82, a PEG ratio of 0.65 and a beta of 1.26. Lennar has a 12 month low of $44.65 and a 12 month high of $72.17.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 26th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Thursday, January 25th. This represents a $0.16 dividend on an annualized basis and a yield of 0.27%. Lennar’s payout ratio is presently 4.68%.
In other Lennar news, CFO Bruce E. Gross sold 9,000 shares of the stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $72.00, for a total value of $648,000.00. Following the completion of the sale, the chief financial officer now owns 346,043 shares in the company, valued at approximately $24,915,096. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The disclosure for this sale can be found here. Insiders sold a total of 180,000 shares of company stock valued at $12,392,050 in the last quarter. 12.18% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. increased its stake in Lennar by 8.9% in the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after buying an additional 155 shares in the last quarter. First Personal Financial Services purchased a new stake in Lennar in the 4th quarter worth $140,000. Independence Bank of Kentucky purchased a new position in shares of Lennar during the fourth quarter valued at about $153,000. QS Investors LLC grew its position in shares of Lennar by 1.0% during the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after purchasing an additional 25 shares in the last quarter. Finally, NuWave Investment Management LLC purchased a new position in shares of Lennar during the fourth quarter valued at about $203,000. Institutional investors and hedge funds own 80.79% of the company’s stock.
Lennar 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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