Brokerages expect Lennar Corporation (NYSE:LEN) to post earnings of $1.50 per share for the current quarter, Zacks reports. Four analysts have provided estimates for Lennar Corporation’s earnings. The highest EPS estimate is $1.55 and the lowest is $1.47. Lennar Corporation reported earnings per share of $1.34 in the same quarter last year, which indicates a positive year over year growth rate of 11.9%. The firm is scheduled to issue its next quarterly earnings results on Monday, December 18th.
On average, analysts expect that Lennar Corporation will report full year earnings of $3.66 per share for the current financial year, with EPS estimates ranging from $3.62 to $3.70. For the next fiscal year, analysts forecast that the business will post earnings of $4.85 per share, with EPS estimates ranging from $4.58 to $5.15. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Lennar Corporation.
Lennar Corporation (NYSE:LEN) last released its quarterly earnings results on Tuesday, October 3rd. The company reported C$1.06 earnings per share for the quarter, topping the consensus estimate of C$1.01 by C$0.05. The company had revenue of C$3.26 billion during the quarter, compared to the consensus estimate of C$3.25 billion. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%. Lennar Corporation’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 earnings per share.
Several equities analysts have weighed in on LEN shares. Argus reissued a “buy” rating and set a $60.00 price target (up previously from $57.00) on shares of Lennar Corporation in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $62.00 price target on shares of Lennar Corporation in a research report on Thursday, July 27th. Zacks Investment Research downgraded Lennar Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub downgraded Lennar Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $64.00 price target on shares of Lennar Corporation in a research report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Lennar Corporation presently has a consensus rating of “Hold” and an average target price of C$57.93.
In related news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation stock in a transaction on Thursday, October 5th. The stock was sold at an average price of C$56.48, for a total value of C$282,400.00. Following the transaction, the chief financial officer now owns 376,043 shares in the company, valued at C$21,238,908.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.18% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of LEN. D.A. Davidson & CO. boosted its holdings in Lennar Corporation by 8.9% in the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the company’s stock valued at $101,000 after acquiring an additional 155 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in Lennar Corporation by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the company’s stock valued at $114,000 after acquiring an additional 530 shares during the last quarter. Washington Trust Bank boosted its holdings in Lennar Corporation by 47.6% in the second quarter. Washington Trust Bank now owns 2,462 shares of the company’s stock valued at $131,000 after acquiring an additional 794 shares during the last quarter. QS Investors LLC raised its position in Lennar Corporation by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the company’s stock valued at $135,000 after purchasing an additional 25 shares during the period. Finally, MUFG Americas Holdings Corp raised its position in Lennar Corporation by 7.3% in the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the company’s stock valued at $173,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.
Lennar Corporation (LEN) opened at C$58.71 on Friday. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $13,812.11, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.42 and a beta of 1.31. Lennar Corporation has a 1 year low of C$40.94 and a 1 year high of C$59.32.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 2nd. Investors of record on Thursday, October 19th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Wednesday, October 18th. Lennar Corporation’s payout ratio is currently 4.61%.
About Lennar Corporation
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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