Wall Street brokerages forecast that Lennar Corporation (NYSE:LEN) will announce sales of $3.62 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Lennar Corporation’s earnings, with estimates ranging from $3.61 billion to $3.64 billion. Lennar Corporation posted sales of $3.38 billion in the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The business is expected to report its next earnings results on Monday, December 18th.

On average, analysts expect that Lennar Corporation will report full-year sales of $3.62 billion for the current financial year, with estimates ranging from $12.17 billion to $12.50 billion. For the next financial year, analysts expect that the firm will post sales of $14.29 billion per share, with estimates ranging from $14.05 billion to $14.52 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Lennar Corporation.

Lennar Corporation (NYSE:LEN) last posted its earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.37%. Lennar Corporation’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Friday, September 15th. Royal Bank Of Canada reissued a “buy” rating and issued a $64.00 price objective on shares of Lennar Corporation in a research note on Monday, August 21st. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $62.00 price objective on shares of Lennar Corporation in a research note on Thursday, July 27th. Argus reissued a “buy” rating and issued a $60.00 price objective (up from $57.00) on shares of Lennar Corporation in a research note on Tuesday, July 25th. Finally, MKM Partners raised shares of Lennar Corporation from a “neutral” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Lennar Corporation presently has a consensus rating of “Hold” and an average target price of $57.93.

In other news, CFO Bruce E. Gross sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $56.48, for a total value of $282,400.00. Following the completion of the sale, the chief financial officer now owns 376,043 shares in the company, valued at approximately $21,238,908.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.18% of the company’s stock.

Several institutional investors have recently modified their holdings of LEN. D.A. Davidson & CO. grew its position in shares of Lennar Corporation by 8.9% in the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after buying an additional 155 shares during the last quarter. Commonwealth Bank of Australia grew its position in shares of Lennar Corporation by 32.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after buying an additional 530 shares during the last quarter. Washington Trust Bank grew its position in shares of Lennar Corporation by 47.6% in the 2nd quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock worth $131,000 after buying an additional 794 shares during the last quarter. QS Investors LLC grew its position in shares of Lennar Corporation by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after buying an additional 25 shares during the last quarter. Finally, MUFG Americas Holdings Corp grew its position in shares of Lennar Corporation by 7.3% in the 2nd quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after buying an additional 220 shares during the last quarter. 79.83% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Corporation (LEN) opened at $58.22 on Tuesday. The firm has a market cap of $13,812.11, a price-to-earnings ratio of 15.05, a P/E/G ratio of 1.42 and a beta of 1.31. Lennar Corporation has a 52 week low of $41.20 and a 52 week high of $59.32. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Stockholders of record on Thursday, October 19th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, October 18th. This represents a $0.16 annualized dividend and a dividend yield of 0.27%. Lennar Corporation’s dividend payout ratio is currently 4.61%.

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About Lennar Corporation

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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Earnings History and Estimates for Lennar Corporation (NYSE:LEN)

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