Lennar Co. (NYSE:LEN) declared a quarterly dividend on Thursday, October 5th, Wall Street Journal reports. Investors of record on Thursday, October 19th will be given a dividend of 0.04 per share by the construction company on Thursday, November 2nd. This represents a $0.16 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, October 18th.
Lennar has a dividend payout ratio of 3.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lennar to earn $4.88 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 3.3%.
Shares of Lennar (LEN) opened at 56.05 on Friday. Lennar has a 1-year low of $39.68 and a 1-year high of $56.78. The stock has a market capitalization of $13.14 billion, a PE ratio of 16.38 and a beta of 1.22. The firm has a 50-day moving average of $52.33 and a 200 day moving average of $52.25.
Lennar (NYSE:LEN) last posted its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.25 billion. Lennar had a net margin of 7.47% and a return on equity of 13.30%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. Analysts predict that Lennar will post $3.82 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “Lennar Co. (LEN) to Issue Quarterly Dividend of $0.04 on November 2nd” was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://sportsperspectives.com/2017/10/13/lennar-co-len-to-issue-quarterly-dividend-of-0-04-on-november-2nd.html.
In related news, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $56.48, for a total transaction of $282,400.00. Following the completion of the transaction, the chief financial officer now owns 376,043 shares in the company, valued at $21,238,908.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.18% of the stock is currently owned by corporate insiders.
A number of research firms have weighed in on LEN. BTIG Research upped their price target on shares of Lennar from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Bank of America Corporation upped their price target on shares of Lennar from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Citigroup Inc. reiterated a “neutral” rating and issued a $59.00 price target (up from $57.00) on shares of Lennar in a research report on Wednesday, October 4th. MKM Partners upgraded shares of Lennar from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Wednesday, October 4th. Finally, KeyCorp reiterated a “hold” rating on shares of Lennar in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $57.63.
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.
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.