Lennar Corporation Declares Quarterly Dividend of $0.50 (NYSE:LEN)

Lennar Corporation (NYSE:LEN) declared a quarterly dividend on Wednesday, January 21st. Stockholders of record on Wednesday, February 4th will be paid a dividend of 0.50 per share by the construction company on Thursday, February 19th. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, February 4th.

Lennar has raised its dividend by an average of 0.8%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Lennar has a payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lennar to earn $15.55 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 12.9%.

Lennar Stock Performance

NYSE LEN opened at $117.96 on Thursday. The company has a market capitalization of $30.08 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.49 and a beta of 1.42. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.36 and a current ratio of 4.89. Lennar has a 52-week low of $98.42 and a 52-week high of $144.24. The company has a fifty day moving average of $116.56 and a 200-day moving average of $121.77.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.27). The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period last year, the firm earned $4.03 EPS. As a group, equities research analysts predict that Lennar will post 12.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on LEN shares. UBS Group cut shares of Lennar from a “buy” rating to a “neutral” rating and reduced their price target for the company from $137.00 to $122.00 in a research report on Tuesday, January 6th. Evercore ISI lowered shares of Lennar from an “in-line” rating to an “underperform” rating and reduced their target price for the company from $114.00 to $92.00 in a report on Thursday, December 18th. Citigroup decreased their target price on shares of Lennar from $133.00 to $113.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Wells Fargo & Company reduced their price objective on Lennar from $110.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lennar in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $106.38.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.