Lennar Co. (NYSE:LEN) Expected to Post Earnings of $1.13 Per Share

Equities research analysts forecast that Lennar Co. (NYSE:LEN) will report earnings of $1.13 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Lennar’s earnings, with the lowest EPS estimate coming in at $1.10 and the highest estimate coming in at $1.16. Lennar reported earnings per share of $1.58 during the same quarter last year, which would indicate a negative year-over-year growth rate of 28.5%. The firm is expected to issue its next quarterly earnings results on Tuesday, June 25th.

On average, analysts expect that Lennar will report full year earnings of $5.42 per share for the current financial year, with EPS estimates ranging from $5.27 to $5.65. For the next financial year, analysts forecast that the firm will report earnings of $6.01 per share, with EPS estimates ranging from $5.60 to $6.30. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Lennar.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, March 27th. The construction company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $4.10 billion. Lennar had a return on equity of 13.04% and a net margin of 8.39%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 earnings per share.

A number of brokerages have recently issued reports on LEN. Zacks Investment Research downgraded Lennar from a “hold” rating to a “sell” rating and set a $53.00 price target on the stock. in a research report on Thursday, May 30th. ValuEngine upgraded shares of Lennar from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Susquehanna Bancshares reiterated a “neutral” rating and issued a $57.00 price objective (down previously from $64.00) on shares of Lennar in a report on Wednesday, April 17th. JPMorgan Chase & Co. began coverage on shares of Lennar in a report on Monday, April 8th. They issued a “focus list” rating for the company. Finally, Raymond James downgraded shares of Lennar from a “strong-buy” rating to an “outperform” rating and set a $48.91 price objective for the company. in a report on Monday, April 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.11.

In related news, President Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $48.94, for a total value of $978,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.43% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of LEN. TD Asset Management Inc. increased its stake in Lennar by 5.4% in the fourth quarter. TD Asset Management Inc. now owns 117,060 shares of the construction company’s stock valued at $4,583,000 after purchasing an additional 6,003 shares during the period. Daiwa Securities Group Inc. increased its stake in Lennar by 16.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 11,536 shares of the construction company’s stock worth $452,000 after acquiring an additional 1,634 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Lennar by 5,332.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,346,825 shares of the construction company’s stock worth $111,000 after acquiring an additional 4,266,802 shares during the last quarter. Stevens Capital Management LP increased its stake in Lennar by 920.9% during the fourth quarter. Stevens Capital Management LP now owns 75,210 shares of the construction company’s stock worth $2,944,000 after acquiring an additional 67,843 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in Lennar by 3.7% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 7,217 shares of the construction company’s stock worth $283,000 after acquiring an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 85.77% of the company’s stock.

Shares of LEN stock traded down $0.54 during trading hours on Tuesday, reaching $52.24. 463,998 shares of the company’s stock were exchanged, compared to its average volume of 2,367,208. The company has a market cap of $17.08 billion, a PE ratio of 8.23, a PEG ratio of 0.70 and a beta of 1.27. The company has a current ratio of 14.77, a quick ratio of 0.84 and a debt-to-equity ratio of 0.62. Lennar has a fifty-two week low of $37.29 and a fifty-two week high of $55.77.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's 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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Earnings History and Estimates for Lennar (NYSE:LEN)

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