Lennar Co. Declares Quarterly Dividend of $0.04 (LEN)
Lennar (NYSE:LEN) declared a quarterly dividend on Thursday, January 17th. Investors of record on Friday, February 1st will be given a dividend of $0.04 per share on Friday, February 15th. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%.
A number of research firms have also recently commented on LEN. Analysts at MKM Partners raised their price target on shares of Lennar from $34.00 to $36.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. On a related note, analysts at Williams Capital raised their price target on shares of Lennar to $45.00 in a research note to investors on Wednesday. They now have a “positive” rating on the stock. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Lennar in a research note to investors on Wednesday. They now have a $46.00 price target on the stock.
Lennar (LEN) traded up 3.50% on Thursday, hitting $41.94. Lennar (LEN) has a 1-year low of $21.33 and a 1-year high of $42.00. The stock’s 50-day moving average is currently $38.80. The company has a price-to-earnings ratio of 13.03.
Lennar last released its earnings data on Tuesday, January 15th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.43 by $0.13. The company had revenue of $135.00 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in 2012, the company posted $0.16 earnings per share. The company’s quarterly revenue was up 41.7% on a year-over-year basis. On average, analysts predict that Lennar (LEN) will post $1.59 earnings per share for the current fiscal year.
Lennar Corporation is a homebuilder and a provider of financial services. The Company, through its Rialto Investments (Rialto) segment, is an investor in distressed real estate assets.
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