Lennar Co. (NYSE:LEN) – Wedbush issued their Q1 2020 earnings estimates for Lennar in a research note issued to investors on Monday, October 29th. Wedbush analyst J. Mccanless anticipates that the construction company will earn $1.05 per share for the quarter. Wedbush has a “Outperform” rating and a $50.00 price target on the stock. Wedbush also issued estimates for Lennar’s Q2 2020 earnings at $1.59 EPS, Q3 2020 earnings at $1.98 EPS and FY2020 earnings at $7.12 EPS.
Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, October 3rd. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.19 by $0.11. Lennar had a return on equity of 12.87% and a net margin of 6.76%. The firm had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.62 billion. During the same quarter last year, the firm posted $1.06 earnings per share. The business’s revenue for the quarter was up 73.9% on a year-over-year basis.
Shares of LEN stock opened at $42.98 on Wednesday. Lennar has a 1-year low of $38.79 and a 1-year high of $72.17. The stock has a market cap of $13.80 billion, a P/E ratio of 11.28, a P/E/G ratio of 0.46 and a beta of 1.23. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 12.62.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 2nd. Shareholders of record on Friday, October 19th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.37%. The ex-dividend date is Thursday, October 18th. Lennar’s dividend payout ratio is presently 4.20%.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $46.98, for a total value of $939,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Abacus Planning Group Inc. boosted its holdings in Lennar by 14.1% in the third quarter. Abacus Planning Group Inc. now owns 14,118 shares of the construction company’s stock worth $659,000 after acquiring an additional 1,750 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in Lennar by 2.6% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 49,707 shares of the construction company’s stock worth $2,321,000 after acquiring an additional 1,262 shares in the last quarter. Arizona State Retirement System boosted its holdings in Lennar by 4.5% in the third quarter. Arizona State Retirement System now owns 170,983 shares of the construction company’s stock worth $7,983,000 after acquiring an additional 7,374 shares in the last quarter. Hodges Capital Management Inc. boosted its holdings in Lennar by 41.2% in the third quarter. Hodges Capital Management Inc. now owns 18,500 shares of the construction company’s stock worth $864,000 after acquiring an additional 5,400 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Lennar in the third quarter worth about $233,000. 86.01% of the stock is owned by institutional investors and hedge funds.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.
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