Lennar Co. (NYSE:LEN) announced a quarterly dividend on Wednesday, April 11th, Zacks reports. Stockholders of record on Wednesday, April 25th will be paid a dividend of 0.04 per share by the construction company on Wednesday, May 9th. This represents a $0.16 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Tuesday, April 24th.
Lennar has a payout ratio of 3.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lennar to earn $6.69 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 2.4%.
NYSE LEN opened at $57.64 on Thursday. The company has a market cap of $13,804.84, a PE ratio of 15.13, a P/E/G ratio of 0.64 and a beta of 1.23. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.84 and a current ratio of 16.40. Lennar has a fifty-two week low of $49.34 and a fifty-two week high of $72.17.
Lennar (NYSE:LEN) last released its earnings results on Wednesday, April 4th. The construction company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.35. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.05 billion. Lennar had a return on equity of 11.65% and a net margin of 6.84%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. equities analysts expect that Lennar will post 4.9 earnings per share for the current year.
LEN has been the topic of several analyst reports. Royal Bank of Canada set a $82.00 target price on Lennar and gave the company a “buy” rating in a research report on Friday, January 12th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $78.00 target price on shares of Lennar in a research report on Thursday, January 11th. Mizuho raised Lennar from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. UBS reissued a “buy” rating on shares of Lennar in a research report on Wednesday, January 17th. Finally, Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Lennar presently has an average rating of “Buy” and a consensus price target of $71.40.
In other Lennar news, Director Jeffrey Sonnenfeld sold 2,095 shares of the company’s stock in a transaction on Friday, April 6th. The stock was sold at an average price of $62.98, for a total value of $131,943.10. Following the transaction, the director now owns 32,072 shares of the company’s stock, valued at approximately $2,019,894.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Bruce E. Gross sold 9,000 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $72.00, for a total value of $648,000.00. Following the completion of the transaction, the chief financial officer now directly owns 346,043 shares in the company, valued at approximately $24,915,096. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.
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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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