Lennar Corporation (NYSE:LEN) – Investment analysts at Wedbush increased their Q3 2018 earnings per share (EPS) estimates for Lennar Corporation in a note issued to investors on Tuesday. Wedbush analyst J. Mccanless now expects that the construction company will post earnings per share of $1.30 for the quarter, up from their prior estimate of $1.17. Wedbush currently has a “Neutral” rating and a $54.00 target price on the stock.
A number of other brokerages have also recently issued reports on LEN. BTIG Research increased their price objective on Lennar Corporation from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday. Argus reissued a “buy” rating and set a $60.00 price objective (up previously from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Zacks Investment Research raised Lennar Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Wednesday, July 12th. BidaskClub cut Lennar Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Finally, Royal Bank Of Canada upped their target price on Lennar Corporation from $61.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $57.63.
Lennar Corporation (NYSE:LEN) opened at 55.89 on Friday. Lennar Corporation has a 12 month low of $39.68 and a 12 month high of $56.78. The company has a 50 day moving average price of $51.83 and a 200-day moving average price of $52.10. The company has a market cap of $13.11 billion, a PE ratio of 16.34 and a beta of 1.22.
Lennar Corporation (NYSE:LEN) last issued its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. Lennar Corporation had a return on equity of 12.52% and a net margin of 6.65%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the business earned $1.01 earnings per share. Lennar Corporation’s revenue was up 15.1% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 2nd. Stockholders of record on Thursday, October 19th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, October 18th. This represents a $0.16 annualized dividend and a dividend yield of 0.29%. Lennar Corporation’s dividend payout ratio (DPR) is presently 4.61%.
In other news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $56.48, for a total transaction of $282,400.00. Following the transaction, the chief financial officer now directly owns 376,043 shares in the company, valued at approximately $21,238,908.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.18% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in LEN. Mutual of America Capital Management LLC increased its position in shares of Lennar Corporation by 9.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 23,296 shares of the construction company’s stock valued at $1,193,000 after purchasing an additional 2,076 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Lennar Corporation during the 1st quarter valued at about $230,000. Pacer Advisors Inc. increased its position in shares of Lennar Corporation by 27.0% during the 1st quarter. Pacer Advisors Inc. now owns 4,038 shares of the construction company’s stock valued at $207,000 after purchasing an additional 859 shares during the last quarter. Stifel Financial Corp bought a new position in shares of Lennar Corporation during the 1st quarter valued at about $550,000. Finally, Victory Capital Management Inc. increased its position in shares of Lennar Corporation by 27.7% during the 1st quarter. Victory Capital Management Inc. now owns 28,390 shares of the construction company’s stock valued at $1,453,000 after purchasing an additional 6,159 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.
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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