Q3 2018 EPS Estimates for Lennar Corporation (LEN) Boosted by Wedbush
Lennar Corporation (NYSE:LEN) – Equities research analysts at Wedbush boosted their Q3 2018 earnings per share (EPS) estimates for shares of Lennar Corporation in a note issued to investors on Tuesday. Wedbush analyst J. Mccanless now expects that the construction company will earn $1.30 per share for the quarter, up from their previous forecast of $1.17. Wedbush has a “Neutral” rating and a $54.00 price objective on the stock.
A number of other research analysts also recently commented on LEN. Zacks Investment Research downgraded Lennar Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Deutsche Bank AG restated a “hold” rating and set a $53.00 price objective (up from $52.00) on shares of Lennar Corporation in a research note on Thursday, June 22nd. MKM Partners restated a “neutral” rating on shares of Lennar Corporation in a research note on Tuesday, September 5th. Credit Suisse Group AG assumed coverage on Lennar Corporation in a research note on Thursday, June 22nd. They set a “neutral” rating and a $55.00 price objective for the company. Finally, Argus restated a “buy” rating and set a $60.00 price objective (up from $57.00) on shares of Lennar Corporation in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.63.
Shares of Lennar Corporation (NYSE LEN) traded down 0.39% during midday trading on Friday, hitting $55.85. The company had a trading volume of 1,338,743 shares. Lennar Corporation has a 12 month low of $39.68 and a 12 month high of $56.78. The stock’s 50-day moving average price is $51.75 and its 200-day moving average price is $52.08. The company has a market cap of $13.10 billion, a price-to-earnings ratio of 16.33 and a beta of 1.22.
Lennar Corporation (NYSE:LEN) last issued its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Lennar Corporation had a return on equity of 12.52% and a net margin of 6.65%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period last year, the company earned $1.01 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 2nd. Shareholders of record on Thursday, October 19th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a $0.16 dividend on an annualized basis and a yield of 0.29%. Lennar Corporation’s dividend payout ratio (DPR) is presently 4.61%.
A number of hedge funds have recently made changes to their positions in LEN. Mutual of America Capital Management LLC boosted its position in Lennar Corporation by 9.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 23,296 shares of the construction company’s stock worth $1,193,000 after acquiring an additional 2,076 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Lennar Corporation during the 1st quarter worth $230,000. Pacer Advisors Inc. boosted its position in Lennar Corporation by 27.0% during the 1st quarter. Pacer Advisors Inc. now owns 4,038 shares of the construction company’s stock worth $207,000 after acquiring an additional 859 shares during the period. Stifel Financial Corp acquired a new position in Lennar Corporation during the 1st quarter worth $550,000. Finally, Victory Capital Management Inc. boosted its position in Lennar Corporation by 27.7% during the 1st quarter. Victory Capital Management Inc. now owns 28,390 shares of the construction company’s stock worth $1,453,000 after acquiring an additional 6,159 shares during the period. Institutional investors own 81.10% of the company’s stock.
Lennar Corporation 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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