Lennar Corporation (LEN) to Distribute Quarterly Dividend of $0.50 on July 24th

Lennar Corporation (NYSE:LEN) announced a quarterly dividend on Thursday, June 25th. Shareholders of record on Friday, July 10th will be paid a dividend of 0.50 per share by the construction company on Friday, July 24th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, July 10th.

Lennar has increased its dividend payment by an average of 0.8%annually over the last three years and has increased its dividend every year for the last 1 years. Lennar has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lennar to earn $7.11 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 28.1%.

Lennar Trading Down 0.3%

Shares of NYSE LEN opened at $93.54 on Friday. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. Lennar has a one year low of $81.18 and a one year high of $144.24. The business has a 50-day moving average price of $89.78 and a two-hundred day moving average price of $100.62. The firm has a market capitalization of $23.10 billion, a PE ratio of 14.64, a PEG ratio of 3.08 and a beta of 1.39.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The company had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.81 EPS. As a group, analysts predict that Lennar will post 5.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LEN has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, June 15th. Barclays lowered their price target on shares of Lennar from $80.00 to $79.00 and set an “underweight” rating on the stock in a report on Monday, June 15th. UBS Group dropped their price target on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 16th. Citigroup reduced their price objective on Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Lennar in a research note on Thursday, June 11th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $95.00.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.