Analysts Anticipate Lennar Co. (NYSE:LEN) to Announce $3.24 EPS

Equities analysts predict that Lennar Co. (NYSE:LEN) will post $3.24 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Lennar’s earnings, with the highest EPS estimate coming in at $3.27 and the lowest estimate coming in at $3.20. Lennar posted earnings per share of $2.12 in the same quarter last year, which suggests a positive year over year growth rate of 52.8%. The company is scheduled to issue its next quarterly earnings report on Monday, September 13th.

On average, analysts expect that Lennar will report full-year earnings of $13.54 per share for the current fiscal year, with EPS estimates ranging from $13.53 to $13.54. For the next year, analysts expect that the company will post earnings of $14.06 per share, with EPS estimates ranging from $12.48 to $15.47. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Lennar.

Lennar (NYSE:LEN) last issued its earnings results on Tuesday, June 15th. The construction company reported $2.95 EPS for the quarter, beating the Zacks’ consensus estimate of $2.36 by $0.59. Lennar had a return on equity of 16.82% and a net margin of 13.83%. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. Lennar’s quarterly revenue was up 21.6% compared to the same quarter last year.

A number of equities analysts have commented on the company. Wells Fargo & Company assumed coverage on Lennar in a research note on Wednesday, April 21st. They issued an “equal weight” rating and a $112.00 target price for the company. JMP Securities lifted their price target on Lennar from $120.00 to $130.00 and gave the company a “market outperform” rating in a report on Friday, June 18th. JPMorgan Chase & Co. raised Lennar from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $115.00 to $141.00 in a report on Friday, June 18th. They noted that the move was a valuation call. Zacks Investment Research raised Lennar from a “hold” rating to a “strong-buy” rating and set a $113.00 price target on the stock in a report on Monday, June 21st. Finally, Seaport Res Ptn reaffirmed a “neutral” rating on shares of Lennar in a report on Monday. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $107.89.

In other Lennar news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $100.14, for a total transaction of $1,001,400.00. Following the completion of the transaction, the executive vice president now owns 150,875 shares of the company’s stock, valued at approximately $15,108,622.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.62% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Harbor Financial Services LLC acquired a new position in Lennar during the 1st quarter worth $278,000. Jennison Associates LLC acquired a new position in Lennar in the first quarter valued at approximately $33,978,000. Elo Mutual Pension Insurance Co lifted its holdings in Lennar by 1.7% in the first quarter. Elo Mutual Pension Insurance Co now owns 19,848 shares of the construction company’s stock valued at $2,009,000 after buying an additional 324 shares during the period. Cetera Investment Advisers acquired a new position in Lennar in the fourth quarter valued at approximately $393,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Lennar by 3.9% in the first quarter. Daiwa Securities Group Inc. now owns 14,263 shares of the construction company’s stock valued at $1,444,000 after buying an additional 537 shares during the period. 81.42% of the stock is owned by hedge funds and other institutional investors.

LEN stock traded down $0.43 during midday trading on Thursday, reaching $100.17. The company had a trading volume of 84,774 shares, compared to its average volume of 2,242,806. The company has a debt-to-equity ratio of 0.30, a current ratio of 11.02 and a quick ratio of 1.53. The stock’s 50 day moving average price is $97.12. Lennar has a fifty-two week low of $68.24 and a fifty-two week high of $110.61. The stock has a market cap of $31.39 billion, a price-to-earnings ratio of 9.24 and a beta of 1.49.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 19th. Investors of record on Friday, July 2nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, July 1st. Lennar’s payout ratio is presently 12.99%.

About Lennar

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, Financial Services, Multifamily, and Lennar Other 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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