Analysts expect Lennar Corporation (NYSE:LEN) to post $3.62 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Lennar’s earnings. The highest sales estimate is $3.64 billion and the lowest is $3.61 billion. Lennar posted sales of $3.38 billion during the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The company is expected to issue its next quarterly earnings results on Monday, December 18th.
According to Zacks, analysts expect that Lennar will report full-year sales of $3.62 billion for the current year, with estimates ranging from $12.17 billion to $12.50 billion. For the next fiscal year, analysts expect that the firm will report sales of $14.29 billion per share, with estimates ranging from $14.05 billion to $14.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Lennar.
Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. The firm had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. Lennar had a net margin of 6.65% and a return on equity of 12.37%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 earnings per share.
In related news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $56.48, for a total transaction of $282,400.00. Following the completion of the transaction, the chief financial officer now owns 376,043 shares in the company, valued at $21,238,908.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.18% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of LEN. D.A. Davidson & CO. raised its position in Lennar by 8.9% during the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after acquiring an additional 155 shares in the last quarter. Commonwealth Bank of Australia raised its position in Lennar by 32.4% during the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after acquiring an additional 530 shares in the last quarter. QS Investors LLC raised its position in Lennar by 1.0% during the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after acquiring an additional 25 shares in the last quarter. MUFG Americas Holdings Corp raised its position in Lennar by 7.3% during the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after acquiring an additional 220 shares in the last quarter. Finally, Chartist Inc. CA bought a new stake in Lennar during the second quarter worth $200,000. 81.34% of the stock is currently owned by hedge funds and other institutional investors.
Lennar (NYSE LEN) opened at $62.56 on Friday. The firm has a market cap of $14,570.00, a P/E ratio of 15.78, a PEG ratio of 1.50 and a beta of 1.30. Lennar has a 1-year low of $41.83 and a 1-year high of $63.27. The company has a quick ratio of 0.59, a current ratio of 7.76 and a debt-to-equity ratio of 0.72.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 2nd. Investors of record on Thursday, October 19th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.26%. The ex-dividend date was Wednesday, October 18th. Lennar’s payout ratio is 4.61%.
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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