Zacks: Brokerages Anticipate Lennar Co. (LEN) Will Announce Quarterly Sales of $2.62 Billion

Analysts predict that Lennar Co. (NYSE:LEN) will report $2.62 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Lennar’s earnings, with estimates ranging from $2.49 billion to $2.75 billion. Lennar posted sales of $2.34 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 12%. The company is expected to issue its next quarterly earnings report on Monday, April 9th.

On average, analysts expect that Lennar will report full-year sales of $2.62 billion for the current year, with estimates ranging from $14.08 billion to $14.37 billion. For the next financial year, analysts forecast that the business will report sales of $15.45 billion per share, with estimates ranging from $15.13 billion to $15.77 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Lennar.

Lennar (NYSE:LEN) last issued its earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.21). The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Lennar had a return on equity of 12.22% and a net margin of 6.41%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the company posted $1.34 earnings per share.

A number of equities analysts have recently issued reports on the company. Wedbush set a $60.00 target price on Lennar and gave the stock a “hold” rating in a research note on Thursday, January 4th. Credit Suisse Group raised Lennar from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $67.00 to $81.00 in a research note on Monday. Zacks Investment Research downgraded Lennar from a “buy” rating to a “hold” rating in a research note on Monday, January 15th. Bank of America raised their price objective on Lennar from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Finally, Wells Fargo & Co raised Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price objective for the company in a research note on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. Lennar has a consensus rating of “Buy” and a consensus price target of $65.00.

In other Lennar news, CFO Bruce E. Gross sold 1,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $72.00, for a total transaction of $72,000.00. Following the completion of the transaction, the chief financial officer now owns 356,043 shares of the company’s stock, valued at $25,635,096. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Collins sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $71.15, for a total value of $355,750.00. Following the transaction, the insider now directly owns 118,361 shares of the company’s stock, valued at approximately $8,421,385.15. The disclosure for this sale can be found here. Insiders have sold 171,000 shares of company stock valued at $11,744,050 in the last three months. 12.18% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Strs Ohio increased its position in Lennar by 19.5% during the fourth quarter. Strs Ohio now owns 21,768 shares of the construction company’s stock worth $1,376,000 after buying an additional 3,550 shares in the last quarter. Addison Capital Co purchased a new position in Lennar during the fourth quarter worth $450,000. Oakbrook Investments LLC increased its position in Lennar by 54.9% during the fourth quarter. Oakbrook Investments LLC now owns 13,690 shares of the construction company’s stock worth $866,000 after buying an additional 4,850 shares in the last quarter. Charter Trust Co. purchased a new position in Lennar during the fourth quarter worth $586,000. Finally, Atria Investments LLC increased its position in Lennar by 23.7% during the fourth quarter. Atria Investments LLC now owns 25,511 shares of the construction company’s stock worth $1,613,000 after buying an additional 4,883 shares in the last quarter. 80.85% of the stock is owned by institutional investors.

Shares of Lennar (LEN) traded down $0.09 during mid-day trading on Tuesday, hitting $71.73. The stock had a trading volume of 3,950,900 shares, compared to its average volume of 4,613,300. The stock has a market cap of $16,680.00, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 1.04 and a beta of 1.35. Lennar has a fifty-two week low of $43.46 and a fifty-two week high of $72.17. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 26th will be given 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 4.61%.

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About Lennar

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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