Lennar Co. (NYSE:LEN) – Investment analysts at Wedbush raised their Q3 2017 earnings per share estimates for shares of Lennar in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings per share of $1.31 for the quarter, up from their previous forecast of $1.15. Wedbush also issued estimates for Lennar’s Q4 2017 earnings at $1.63 EPS, FY2017 earnings at $4.27 EPS, Q2 2018 earnings at $0.96 EPS, Q4 2018 earnings at $1.49 EPS and FY2018 earnings at $4.35 EPS.
Lennar (NYSE:LEN) last issued its quarterly earnings results on Tuesday, March 21st. The construction company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. Lennar had a return on equity of 13.80% and a net margin of 8.33%. The business earned $2.34 billion during the quarter, compared to the consensus estimate of $2.18 billion. During the same period in the previous year, the business earned $0.63 EPS. The business’s quarterly revenue was up 17.2% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “Q3 2017 EPS Estimates for Lennar Co. (LEN) Boosted by Wedbush” was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be viewed at https://sportsperspectives.com/2017/04/21/lennar-co-to-post-q3-2017-earnings-of-1-31-per-share-wedbush-forecasts-len-updated-updated.html.
LEN has been the subject of a number of other reports. Citigroup Inc assumed coverage on Lennar in a report on Tuesday, February 14th. They set a “neutral” rating and a $52.00 price target for the company. Zacks Investment Research cut Lennar from a “strong-buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. raised their price target on Lennar from $44.50 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, March 22nd. Barclays PLC assumed coverage on Lennar in a report on Thursday, January 5th. They set an “overweight” rating and a $50.00 price target for the company. Finally, Royal Bank of Canada raised their price target on Lennar from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, March 22nd. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $53.78.
Shares of Lennar (NYSE:LEN) traded up 0.23% during midday trading on Thursday, hitting $52.01. The stock had a trading volume of 2,259,440 shares. Lennar has a 12-month low of $39.68 and a 12-month high of $53.79. The firm has a market cap of $12.19 billion, a PE ratio of 15.04 and a beta of 1.27. The firm has a 50-day moving average of $51.46 and a 200 day moving average of $45.65.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sanders Capital LLC raised its stake in shares of Lennar by 0.9% in the third quarter. Sanders Capital LLC now owns 8,511,852 shares of the construction company’s stock valued at $366,937,000 after buying an additional 76,400 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Lennar during the third quarter valued at approximately $304,677,000. Aristotle Capital Management LLC raised its stake in shares of Lennar by 2.3% in the fourth quarter. Aristotle Capital Management LLC now owns 5,693,761 shares of the construction company’s stock valued at $244,432,000 after buying an additional 128,010 shares during the last quarter. Greenhaven Associates Inc. raised its stake in shares of Lennar by 5.5% in the third quarter. Greenhaven Associates Inc. now owns 5,059,049 shares of the construction company’s stock valued at $214,200,000 after buying an additional 261,877 shares during the last quarter. Finally, TCW Group Inc. raised its stake in shares of Lennar by 3.7% in the fourth quarter. TCW Group Inc. now owns 3,736,123 shares of the construction company’s stock valued at $160,392,000 after buying an additional 133,388 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 16th. Stockholders of record on Tuesday, May 2nd will be given a $0.04 dividend. The ex-dividend date is Friday, April 28th. This represents a $0.16 annualized dividend and a dividend yield of 0.31%. Lennar’s dividend payout ratio is currently 4.07%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.