Wall Street brokerages expect Lennar Co. (NYSE:LEN) to announce earnings per share of $0.82 for the current quarter, according to Zacks. Three analysts have made estimates for Lennar’s earnings. The highest EPS estimate is $0.90 and the lowest is $0.68. Lennar reported earnings per share of $0.59 during the same quarter last year, which would suggest a positive year over year growth rate of 39%. The business is expected to issue its next quarterly earnings results on Monday, April 9th.
On average, analysts expect that Lennar will report full-year earnings of $5.29 per share for the current financial year, with EPS estimates ranging from $4.99 to $5.50. For the next year, analysts expect that the business will report earnings of $5.80 per share, with EPS estimates ranging from $5.63 to $5.97. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Lennar.
Lennar (NYSE:LEN) last issued its earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.21). The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.59 billion. Lennar had a return on equity of 12.00% and a net margin of 6.41%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 earnings per share.
LEN has been the topic of a number of recent research reports. Zacks Investment Research cut Lennar from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Wedbush lifted their target price on Lennar from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, December 29th. Wells Fargo & Co upgraded Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 target price on the stock in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods restated a “buy” rating and issued a $78.00 target price on shares of Lennar in a report on Thursday, January 11th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $65.00 target price (up from $57.00) on shares of Lennar in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $67.93.
In related news, General Counsel Mark Sustana sold 125,000 shares of Lennar stock in a transaction on Friday, January 12th. The stock was sold at an average price of $69.55, for a total transaction of $8,693,750.00. Following the completion of the sale, the general counsel now owns 65,720 shares of the company’s stock, valued at $4,570,826. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $64.02, for a total value of $1,280,400.00. Following the sale, the chief operating officer now directly owns 99,000 shares of the company’s stock, valued at approximately $6,337,980. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock worth $12,092,050 in the last quarter. 8.50% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of Lennar in the fourth quarter worth about $103,000. First Personal Financial Services acquired a new stake in shares of Lennar in the fourth quarter worth about $140,000. Independence Bank of Kentucky acquired a new stake in shares of Lennar in the fourth quarter worth about $153,000. NuWave Investment Management LLC acquired a new stake in shares of Lennar in the fourth quarter worth about $203,000. Finally, Gotham Asset Management LLC acquired a new stake in shares of Lennar in the fourth quarter worth about $207,000. 88.76% of the stock is owned by hedge funds and other institutional investors.
Lennar (NYSE LEN) opened at $58.81 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 8.42 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $13,700.00, a price-to-earnings ratio of 17.58, a P/E/G ratio of 0.62 and a beta of 1.31. Lennar has a 1-year low of $49.34 and a 1-year high of $72.17.
Lennar Company Profile
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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