Zacks: Analysts Expect Lennar Co. (LEN) to Announce $0.83 Earnings Per Share

Wall Street analysts expect Lennar Co. (NYSE:LEN) to report earnings of $0.83 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Lennar’s earnings, with estimates ranging from $0.62 to $0.94. Lennar posted earnings of $0.59 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 40.7%. The company is scheduled to announce its next earnings report on Monday, April 9th.

According to Zacks, analysts expect that Lennar will report full year earnings of $5.33 per share for the current fiscal year, with EPS estimates ranging from $4.88 to $5.93. For the next financial year, analysts forecast that the company will post earnings of $6.01 per share, with EPS estimates ranging from $5.63 to $6.60. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Lennar.

Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, January 10th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.21). Lennar had a net margin of 6.41% and a return on equity of 12.22%. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year.

A number of research analysts recently issued reports on the company. Mizuho upgraded Lennar from a “neutral” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Tuesday, January 16th. UBS Group reaffirmed a “buy” rating on shares of Lennar in a research note on Wednesday. Wedbush set a $60.00 target price on Lennar and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $78.00 target price on shares of Lennar in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $63.93.

Lennar (LEN) opened at $71.82 on Friday. Lennar has a 12-month low of $42.75 and a 12-month high of $72.07. The stock has a market capitalization of $16,896.37, a P/E ratio of 21.00, a P/E/G ratio of 1.05 and a beta of 1.35. 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 announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 26th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Thursday, January 25th. Lennar’s payout ratio is currently 4.68%.

In other news, CFO Bruce E. Gross sold 1,000 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $72.00, for a total value of $72,000.00. Following the sale, the chief financial officer now owns 356,043 shares of the company’s stock, valued at approximately $25,635,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark Sustana sold 125,000 shares of the business’s stock in a transaction on Friday, January 12th. The stock was sold at an average price of $69.55, for a total value of $8,693,750.00. Following the completion of the sale, the general counsel now directly owns 65,720 shares in the company, valued at approximately $4,570,826. The disclosure for this sale can be found here. Insiders sold a total of 171,000 shares of company stock worth $11,744,050 in the last three months. Company insiders own 12.18% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. raised its stake in shares of Lennar 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 in the last quarter. QS Investors LLC raised its stake in shares of Lennar 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 in the last quarter. Chartist Inc. CA bought a new stake in shares of Lennar in the 2nd quarter worth $200,000. Valeo Financial Advisors LLC bought a new stake in shares of Lennar in the 3rd quarter worth $245,000. Finally, Vident Investment Advisory LLC bought a new stake in shares of Lennar in the 3rd quarter worth $250,000. 81.25% of the stock is currently owned by institutional investors.

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Lennar 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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