Lennar Corp. (NYSE:LEN) – Investment analysts at KeyCorp reduced their FY2017 earnings per share (EPS) estimates for shares of Lennar Corp. in a note issued to investors on Thursday. KeyCorp analyst K. Zener now expects that the firm will post earnings of $4.09 per share for the year, down from their previous forecast of $4.21.
LEN has been the topic of several other research reports. Argus assumed coverage on shares of Lennar Corp. in a research report on Tuesday, July 5th. They issued a “buy” rating and a $59.00 price target on the stock. Zacks Investment Research lowered shares of Lennar Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. Wedbush assumed coverage on shares of Lennar Corp. in a research report on Monday, September 19th. They issued a “neutral” rating and a $46.00 price target on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Lennar Corp. from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 21st. Finally, Citigroup Inc. decreased their price target on shares of Lennar Corp. from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $54.03.
Shares of Lennar Corp. (NYSE:LEN) traded up 0.081% on Monday, hitting $42.985. The company had a trading volume of 1,017,652 shares. The company has a 50 day moving average of $46.03 and a 200-day moving average of $46.43. Lennar Corp. has a 12-month low of $37.14 and a 12-month high of $52.50. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 11.309 and a beta of 1.37.
Lennar Corp. (NYSE:LEN) last issued its earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.12. The business had revenue of $2.83 billion for the quarter. Lennar Corp. had a return on equity of 14.41% and a net margin of 8.52%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business posted $0.96 earnings per share.
A number of large investors have recently added to or reduced their stakes in LEN. Macquarie Group Ltd. boosted its stake in Lennar Corp. by 6.5% in the second quarter. Macquarie Group Ltd. now owns 118,138 shares of the company’s stock worth $5,446,000 after buying an additional 7,205 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Lennar Corp. during the second quarter worth about $341,000. Kentucky Retirement Systems purchased a new stake in Lennar Corp. during the second quarter worth about $719,000. Northwestern Mutual Investment Management Company LLC boosted its stake in Lennar Corp. by 1.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,996 shares of the company’s stock worth $323,000 after buying an additional 120 shares during the period. Finally, Mason Street Advisors LLC purchased a new stake in Lennar Corp. during the second quarter worth about $1,139,000. Institutional investors own 86.39% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Monday, October 3rd. Lennar Corp.’s dividend payout ratio (DPR) is 4.21%.
Lennar Corp. Company Profile
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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