Brokerages forecast that Lennar Corporation (NYSE:LEN) will report earnings per share of $1.02 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Lennar Corporation’s earnings, with the lowest EPS estimate coming in at $0.96 and the highest estimate coming in at $1.06. Lennar Corporation reported earnings of $1.01 per share during the same quarter last year, which would suggest a positive year over year growth rate of 1%. The business is scheduled to report its next earnings results on Tuesday, September 19th.
According to Zacks, analysts expect that Lennar Corporation will report full year earnings of $4.33 per share for the current year, with EPS estimates ranging from $4.23 to $4.45. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.77 per share, with EPS estimates ranging from $4.58 to $5.11. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Lennar Corporation.
Lennar Corporation (NYSE:LEN) last announced its earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the company posted $0.95 EPS. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year.
Several analysts have recently weighed in on LEN shares. Bank of America Corporation reissued a “buy” rating and issued a $63.00 target price (up from $60.00) on shares of Lennar Corporation in a report on Wednesday, June 21st. Zacks Investment Research raised Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Friday, June 16th. Mizuho started coverage on Lennar Corporation in a report on Tuesday, May 16th. They issued a “buy” rating and a $59.00 target price for the company. Barclays PLC downgraded Lennar Corporation from an “overweight” rating to an “equal weight” rating and set a $56.00 target price for the company. in a report on Tuesday, July 11th. Finally, BidaskClub downgraded Lennar Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $55.82.
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In related news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $53.17, for a total value of $1,063,400.00. Following the sale, the chief operating officer now owns 139,433 shares in the company, valued at approximately $7,413,652.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 12.18% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Sanders Capital LLC boosted its stake in Lennar Corporation by 1.3% in the first quarter. Sanders Capital LLC now owns 8,724,399 shares of the construction company’s stock worth $456,887,000 after buying an additional 110,379 shares in the last quarter. Aristotle Capital Management LLC boosted its stake in Lennar Corporation by 1.3% in the first quarter. Aristotle Capital Management LLC now owns 5,767,575 shares of the construction company’s stock worth $295,242,000 after buying an additional 73,814 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Lennar Corporation by 14.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,918,880 shares of the construction company’s stock worth $149,417,000 after buying an additional 361,684 shares in the last quarter. Hexavest Inc. boosted its stake in Lennar Corporation by 5.1% in the first quarter. Hexavest Inc. now owns 2,428,273 shares of the construction company’s stock worth $124,303,000 after buying an additional 118,070 shares in the last quarter. Finally, Capital Growth Management LP boosted its stake in Lennar Corporation by 55.5% in the first quarter. Capital Growth Management LP now owns 2,130,000 shares of the construction company’s stock worth $109,035,000 after buying an additional 760,000 shares in the last quarter. Institutional investors and hedge funds own 82.48% of the company’s stock.
Shares of Lennar Corporation (NYSE:LEN) traded up 0.74% on Thursday, reaching $53.27. The company had a trading volume of 922,877 shares. The company has a market capitalization of $12.49 billion, a P/E ratio of 15.57 and a beta of 1.26. Lennar Corporation has a 52 week low of $39.68 and a 52 week high of $55.75. The company has a 50 day moving average of $53.00 and a 200-day moving average of $50.20.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 27th. Shareholders of record on Thursday, July 13th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.30%. The ex-dividend date is Tuesday, July 11th. Lennar Corporation’s payout ratio is 4.68%.
About Lennar Corporation
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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