Lennar Corp. (LEN) Declares Quarterly Dividend of $0.04
Lennar Corp. (NYSE:LEN) announced a quarterly dividend on Friday, October 4th, American Banking and Market News reports. Investors of record on Friday, October 18th will be paid a dividend of $0.04 per share on Friday, November 1st. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Wednesday, October 16th.
A number of analysts have recently weighed in on LEN shares. Analysts at Zacks downgraded shares of Lennar Corp. (NYSE:LEN) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday. They now have a $38.00 price target on the stock. On the ratings front, analysts at RBC Capital raised their price target on shares of Lennar Corp. (NYSE:LEN) from $36.00 to $40.00 in a research note to investors on Wednesday, September 25th. They now have an “outperform” rating on the stock. Finally, analysts at Barclays Capital reiterated a “buy” rating on shares of Lennar Corp. (NYSE:LEN) in a research note to investors on Wednesday, September 25th. They now have a $39.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $41.68.
Lennar Corp. (NYSE:LEN) traded down 2.88% during mid-day trading on Friday, hitting $34.69. The stock had a trading volume of 6,049,350 shares. Lennar Corp. has a one year low of $30.90 and a one year high of $44.40. The stock’s 50-day moving average is $34.07 and its 200-day moving average is $37.27. The company has a market cap of $6.696 billion and a P/E ratio of 18.05.
Lennar Corp. (NYSE:LEN) last announced its earnings results on Tuesday, September 24th. The company reported $0.54 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.45 by $0.09. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 45.7% on a year-over-year basis. Analysts expect that Lennar Corp. will post $1.99 EPS for the current fiscal year.
Lennar Corporation is a homebuilder and a provider of financial services and through its Rialto Investments (NYSE:LEN) segment, an investor, and manager of funds that invest in real estate assets.
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