Brokerages Anticipate Lennar Co. (LEN) Will Post Quarterly Sales of $4.12 Billion

Wall Street brokerages expect Lennar Co. (NYSE:LEN) to report $4.12 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Lennar’s earnings. The lowest sales estimate is $4.00 billion and the highest is $4.29 billion. Lennar posted sales of $2.98 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 38.3%. The business is expected to report its next earnings results on Wednesday, April 3rd.

On average, analysts expect that Lennar will report full year sales of $21.88 billion for the current fiscal year, with estimates ranging from $21.38 billion to $22.52 billion. For the next year, analysts anticipate that the firm will post sales of $23.35 billion, with estimates ranging from $22.88 billion to $23.83 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Lennar.

Lennar (NYSE:LEN) last posted its earnings results on Wednesday, January 9th. The construction company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.05. The firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.46 billion. Lennar had a return on equity of 14.02% and a net margin of 8.24%. The firm’s revenue was up 70.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share.

LEN has been the subject of several recent analyst reports. Wedbush upgraded Lennar from a “neutral” rating to an “outperform” rating and decreased their target price for the stock from $56.00 to $50.00 in a research note on Monday, October 29th. Royal Bank of Canada reduced their price objective on Lennar and set an “outperform” rating for the company in a research note on Friday, January 11th. JMP Securities reiterated an “outperform” rating on shares of Lennar in a research note on Monday, October 8th. Bank of America set a $74.00 price objective on Lennar and gave the company a “buy” rating in a research note on Thursday, October 11th. Finally, Barclays set a $55.00 price objective on Lennar and gave the company a “buy” rating in a research note on Wednesday, December 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the company. Lennar presently has an average rating of “Buy” and a consensus target price of $59.00.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $40.03, for a total value of $800,600.00. Following the transaction, the chief operating officer now owns 171,014 shares of the company’s stock, valued at $6,845,690.42. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Gateway Investment Advisers LLC grew its holdings in Lennar by 4.5% during the fourth quarter. Gateway Investment Advisers LLC now owns 12,397 shares of the construction company’s stock worth $485,000 after acquiring an additional 538 shares during the period. Butensky & Cohen Financial Security Inc. grew its holdings in Lennar by 1.9% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 30,570 shares of the construction company’s stock worth $1,197,000 after acquiring an additional 575 shares during the period. Belpointe Asset Management LLC grew its holdings in Lennar by 14.5% during the third quarter. Belpointe Asset Management LLC now owns 6,306 shares of the construction company’s stock worth $294,000 after acquiring an additional 797 shares during the period. Spirit of America Management Corp NY grew its holdings in Lennar by 18.3% during the fourth quarter. Spirit of America Management Corp NY now owns 7,100 shares of the construction company’s stock worth $278,000 after acquiring an additional 1,100 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in Lennar by 2.6% during the third quarter. Nissay Asset Management Corp Japan ADV now owns 49,707 shares of the construction company’s stock worth $2,321,000 after acquiring an additional 1,262 shares during the period. 84.30% of the stock is currently owned by hedge funds and other institutional investors.

LEN stock opened at $45.95 on Friday. The company has a market cap of $14.70 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 0.53 and a beta of 1.17. Lennar has a fifty-two week low of $37.29 and a fifty-two week high of $65.45. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.62 and a quick ratio of 0.72.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 25th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Thursday, January 24th. Lennar’s payout ratio is currently 2.52%.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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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