Lennar Co. (LEN) to Post FY2018 Earnings of $5.30 Per Share, KeyCorp Forecasts
Lennar Co. (NYSE:LEN) – KeyCorp increased their FY2018 earnings per share estimates for shares of Lennar in a research report issued on Wednesday. KeyCorp analyst K. Zener now forecasts that the construction company will post earnings per share of $5.30 for the year, up from their previous estimate of $4.88. KeyCorp also issued estimates for Lennar’s FY2019 earnings at $5.97 EPS.
Lennar (NYSE:LEN) last released its earnings results on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.21). The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Lennar had a net margin of 6.41% and a return on equity of 12.00%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 earnings per share.
Lennar (LEN) opened at $58.69 on Friday. The company has a market capitalization of $13,650.00, a P/E ratio of 17.52, a PEG ratio of 0.62 and a beta of 1.26. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 8.42. Lennar has a one year low of $43.92 and a one year high of $72.17.
Hedge funds and other institutional investors have recently modified their holdings of the business. Fishman Jay A Ltd. MI acquired a new stake in Lennar in the third quarter worth $1,771,000. Private Asset Management Inc. acquired a new stake in Lennar in the fourth quarter worth $316,000. Rational Advisors LLC acquired a new stake in Lennar in the third quarter worth $1,438,000. Bank of Nova Scotia increased its position in Lennar by 71.8% in the second quarter. Bank of Nova Scotia now owns 79,890 shares of the construction company’s stock worth $4,260,000 after buying an additional 33,388 shares during the period. Finally, Parkwood LLC acquired a new stake in Lennar in the third quarter worth $3,969,000. 80.79% of the stock is currently owned by hedge funds and other institutional investors.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $64.02, for a total value of $1,280,400.00. Following the sale, the chief operating officer now directly owns 99,000 shares of the company’s stock, valued at $6,337,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 371,043 shares in the company, valued at $22,262,580. The disclosure for this sale can be found here. Insiders have sold 180,000 shares of company stock worth $12,392,050 over the last 90 days. 12.18% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, January 26th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.27%. The ex-dividend date was Thursday, January 25th. Lennar’s dividend payout ratio (DPR) is presently 4.78%.
Lennar Company Profile
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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