Lennar Co. (NYSE:LEN) to Issue Quarterly Dividend of $0.38

Lennar Co. (NYSE:LEN) declared a quarterly dividend on Wednesday, January 12th, Zacks reports. Stockholders of record on Thursday, January 27th will be given a dividend of 0.375 per share by the construction company on Thursday, February 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Wednesday, January 26th. This is a boost from Lennar’s previous quarterly dividend of $0.25.

Lennar has raised its dividend payment by 525.0% over the last three years. Lennar has a payout ratio of 5.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lennar to earn $16.81 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 5.9%.

LEN stock opened at $108.54 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 9.56 and a quick ratio of 1.41. Lennar has a 1-year low of $74.70 and a 1-year high of $117.54. The firm has a fifty day moving average price of $110.15 and a two-hundred day moving average price of $104.17. The firm has a market cap of $33.59 billion, a price-to-earnings ratio of 7.60, a PEG ratio of 1.11 and a beta of 1.51.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, December 15th. The construction company reported $3.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.15 by ($0.24). Lennar had a net margin of 16.33% and a return on equity of 19.45%. During the same quarter last year, the company earned $2.82 earnings per share. As a group, analysts expect that Lennar will post 15.6 EPS for the current fiscal year.

Several equities analysts have commented on LEN shares. The Goldman Sachs Group upgraded Lennar from a “neutral” rating to a “buy” rating and increased their price target for the company from $108.00 to $140.00 in a report on Wednesday, December 1st. Bank of America initiated coverage on Lennar in a research report on Monday, November 8th. They issued a “buy” rating for the company. Royal Bank of Canada increased their price objective on Lennar from $100.00 to $102.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 22nd. JPMorgan Chase & Co. dropped their price objective on Lennar from $143.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday, October 14th. Finally, Barclays raised their target price on Lennar from $110.00 to $136.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 15th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Lennar currently has a consensus rating of “Buy” and a consensus price target of $125.75.

Lennar Company Profile

Lennar Corp. is a homebuilder company which engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.

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Dividend History for Lennar (NYSE:LEN)

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