Lennar Co. (NYSE:LEN) – Equities researchers at Wedbush lowered their Q2 2019 earnings per share estimates for shares of Lennar in a research report issued on Wednesday, March 27th, Zacks Investment Research reports. Wedbush analyst J. Mccanless now forecasts that the construction company will earn $1.16 per share for the quarter, down from their prior estimate of $1.22. Wedbush currently has a “Neutral” rating and a $50.00 target price on the stock. Wedbush also issued estimates for Lennar’s Q3 2019 earnings at $1.54 EPS, Q4 2019 earnings at $2.08 EPS, FY2019 earnings at $5.52 EPS, Q1 2020 earnings at $0.82 EPS, Q2 2020 earnings at $1.27 EPS, Q3 2020 earnings at $1.69 EPS, Q4 2020 earnings at $2.39 EPS and FY2020 earnings at $6.16 EPS.
Several other analysts have also issued reports on LEN. Barclays set a $54.00 price objective on Lennar and gave the stock a “buy” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. began coverage on shares of Lennar in a research report on Monday, April 8th. They set a “focus list” rating on the stock. Zacks Investment Research downgraded shares of Lennar from a “hold” rating to a “sell” rating in a research report on Monday, January 7th. ValuEngine raised shares of Lennar from a “sell” rating to a “hold” rating in a research report on Friday. Finally, BTIG Research lowered their target price on shares of Lennar to $65.00 and set a “positive” rating on the stock in a research report on Thursday, March 28th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $57.27.
Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, March 27th. The construction company reported $0.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). Lennar had a return on equity of 13.04% and a net margin of 8.39%. The firm had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the prior year, the business posted $1.11 earnings per share. Lennar’s revenue was up 29.8% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Tuesday, April 23rd. Lennar’s dividend payout ratio is currently 2.52%.
In other news, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $48.94, for a total value of $978,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.43% of the company’s stock.
Large investors have recently modified their holdings of the company. Macquarie Group Ltd. grew its position in shares of Lennar by 5,113.8% in the fourth quarter. Macquarie Group Ltd. now owns 241,400 shares of the construction company’s stock valued at $9,451,000 after purchasing an additional 236,770 shares during the last quarter. Highland Capital Management LLC grew its position in Lennar by 19.0% during the fourth quarter. Highland Capital Management LLC now owns 104,153 shares of the construction company’s stock worth $4,078,000 after buying an additional 16,637 shares in the last quarter. Worth Venture Partners LLC acquired a new stake in Lennar during the third quarter worth about $106,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lennar during the third quarter worth about $389,000. Finally, DNB Asset Management AS grew its position in Lennar by 94.0% during the fourth quarter. DNB Asset Management AS now owns 66,331 shares of the construction company’s stock worth $2,597,000 after buying an additional 32,132 shares in the last quarter. 84.86% of the stock is currently owned by institutional investors.
Lennar Company Profile
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, Lennar Financial Services, Lennar Multifamily, and Rialto 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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