Lennar (NYSE:LEN) Updates Q3 2022 Earnings Guidance

Lennar (NYSE:LENGet Rating) updated its third quarter 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $4.55-$5.45 for the period, compared to the consensus earnings per share estimate of $4.78. The company issued revenue guidance of -.

A number of research firms have weighed in on LEN. UBS Group decreased their target price on shares of Lennar from $108.00 to $106.00 and set a buy rating on the stock in a research note on Wednesday, June 22nd. Evercore ISI initiated coverage on shares of Lennar in a research note on Friday, March 18th. They issued a buy rating and a $151.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Lennar from $108.00 to $89.00 and set an overweight rating on the stock in a research note on Wednesday, April 13th. BTIG Research boosted their price objective on shares of Lennar from $92.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, June 22nd. Finally, Wedbush reduced their price objective on shares of Lennar from $130.00 to $88.00 and set an outperform rating on the stock in a research note on Wednesday, June 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $94.00.

LEN stock opened at $74.60 on Friday. The firm has a market cap of $22.04 billion, a price-to-earnings ratio of 5.11, a PEG ratio of 4.18 and a beta of 1.46. The company has a quick ratio of 0.62, a current ratio of 8.06 and a debt-to-equity ratio of 0.21. Lennar has a 12-month low of $62.54 and a 12-month high of $117.54. The company’s fifty day simple moving average is $74.91 and its 200 day simple moving average is $86.84.

Lennar (NYSE:LENGet Rating) last announced its quarterly earnings data on Tuesday, June 21st. The construction company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.50. Lennar had a net margin of 14.77% and a return on equity of 21.45%. During the same quarter last year, the company earned $2.95 EPS. Research analysts expect that Lennar will post 16.87 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 21st. Stockholders of record on Thursday, July 7th will be issued a dividend of $0.375 per share. The ex-dividend date is Wednesday, July 6th. This represents a $1.50 annualized dividend and a dividend yield of 2.01%. Lennar’s dividend payout ratio is currently 10.27%.

Several hedge funds and other institutional investors have recently made changes to their positions in LEN. Equitable Holdings Inc. lifted its holdings in shares of Lennar by 3.8% in the first quarter. Equitable Holdings Inc. now owns 10,442 shares of the construction company’s stock valued at $848,000 after purchasing an additional 386 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its holdings in shares of Lennar by 9.5% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 9,645 shares of the construction company’s stock valued at $783,000 after purchasing an additional 840 shares in the last quarter. Cibc World Market Inc. lifted its holdings in shares of Lennar by 6.8% in the first quarter. Cibc World Market Inc. now owns 9,499 shares of the construction company’s stock valued at $771,000 after purchasing an additional 602 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Lennar in the first quarter valued at approximately $726,000. Finally, Quantamental Technologies LLC bought a new position in shares of Lennar in the first quarter valued at approximately $660,000. Hedge funds and other institutional investors own 82.00% of the company’s stock.

About Lennar (Get Rating)

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's 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; and development, construction, and management of multifamily rental properties.

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Earnings History and Estimates for Lennar (NYSE:LEN)

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