Lennar Corporation (LEN) To Go Ex-Dividend on October 7th

Lennar Corporation (NYSE:LEN) declared a quarterly dividend on Wednesday, September 23rd. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.50 per share by the construction company on Thursday, October 22nd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, October 7th.

Lennar has raised its dividend payment by an average of 0.8%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Lennar has a payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lennar to earn $5.80 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 34.5%.

Lennar Price Performance

Shares of NYSE LEN opened at $81.36 on Friday. The stock’s 50-day simple moving average is $83.86 and its 200-day simple moving average is $87.62. The firm has a market capitalization of $19.60 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 3.14 and a beta of 1.39. Lennar has a fifty-two week low of $75.70 and a fifty-two week high of $133.76. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.69 and a current ratio of 4.94.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, September 16th. The construction company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.06). Lennar had a net margin of 4.09% and a return on equity of 6.15%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $8.32 billion. During the same period last year, the company earned $2.29 earnings per share. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. As a group, equities research analysts forecast that Lennar will post 4.85 EPS for the current fiscal year.

Lennar Company Profile

Lennar Corporation is one of the largest homebuilders in the United States. Founded in 1954 and headquartered in Miami, Florida, the company designs, constructs, and sells single-family homes and communities for a range of buyers, including first-time, move-up, and active-adult purchasers.

Lennar operates across many of the country’s major housing markets, including communities in the West, Southwest, Southeast, Mid-Atlantic, and other metropolitan areas. Its homebuilding operations offer a variety of floor plans and home designs, while the company also develops residential communities and provides related services such as mortgage financing, title, and closing services through its financial-services businesses.

In addition to traditional homebuilding, Lennar has expanded into multifamily development and other residential real-estate activities.