Lennar Co. (LEN) Expected to Post Earnings of $1.13 Per Share

Analysts expect Lennar Co. (NYSE:LEN) to report earnings per share (EPS) of $1.13 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Lennar’s earnings. The lowest EPS estimate is $1.10 and the highest is $1.16. Lennar reported earnings per share of $1.58 in the same quarter last year, which would indicate a negative year-over-year growth rate of 28.5%. The business is expected to report its next quarterly earnings results on Tuesday, June 25th.

According to Zacks, analysts expect that Lennar will report full-year earnings of $5.42 per share for the current year, with EPS estimates ranging from $5.27 to $5.65. For the next fiscal year, analysts forecast that the firm will post earnings of $6.01 per share, with EPS estimates ranging from $5.60 to $6.30. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Lennar.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, March 27th. The construction company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Lennar had a net margin of 8.39% and a return on equity of 13.04%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 EPS.

A number of brokerages recently commented on LEN. Barclays set a $54.00 price target on Lennar and gave the company a “buy” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. began coverage on Lennar in a report on Monday, April 8th. They issued a “focus list” rating for the company. Zacks Investment Research raised Lennar from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. ValuEngine raised Lennar from a “sell” rating to a “hold” rating in a report on Friday, April 19th. Finally, KeyCorp increased their price target on Lennar from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Lennar presently has a consensus rating of “Buy” and an average price target of $56.47.

In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $48.94, for a total transaction of $978,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.43% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Ceredex Value Advisors LLC bought a new position in Lennar during the 4th quarter worth approximately $28,000. CI Investments Inc. lifted its holdings in Lennar by 188.5% during the 4th quarter. CI Investments Inc. now owns 756 shares of the construction company’s stock worth $30,000 after buying an additional 494 shares during the last quarter. Cresset Asset Management LLC bought a new position in Lennar during the 1st quarter worth approximately $33,000. Ellis Investment Partners LLC bought a new position in Lennar during the 1st quarter worth approximately $35,000. Finally, Valley National Advisers Inc. bought a new position in Lennar during the 4th quarter worth approximately $49,000. 83.08% of the stock is currently owned by institutional investors.

LEN traded up $0.83 on Friday, reaching $51.91. The company’s stock had a trading volume of 1,342,885 shares, compared to its average volume of 3,575,216. The company has a market capitalization of $16.78 billion, a P/E ratio of 8.17, a P/E/G ratio of 0.69 and a beta of 1.33. Lennar has a 1 year low of $37.29 and a 1 year high of $55.77. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.84 and a current ratio of 14.77.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Tuesday, April 23rd. Lennar’s dividend payout ratio is presently 2.52%.

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, 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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Earnings History and Estimates for Lennar (NYSE:LEN)

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