Analysts expect Lennar Co. (NYSE:LEN) to post earnings per share of $0.83 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Lennar’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.82. Lennar reported earnings per share of $0.74 during the same quarter last year, which would indicate a positive year over year growth rate of 12.2%. The company is expected to announce its next earnings report before the market opens on Thursday, March 19th.
According to Zacks, analysts expect that Lennar will report full-year earnings of $6.19 per share for the current financial year, with EPS estimates ranging from $5.95 to $6.45. For the next fiscal year, analysts anticipate that the company will report earnings of $6.69 per share, with EPS estimates ranging from $6.22 to $7.17. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that cover Lennar.
Lennar (NYSE:LEN) last issued its quarterly earnings data on Wednesday, January 8th. The construction company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. Lennar had a net margin of 8.31% and a return on equity of 12.00%. The firm had revenue of $6.97 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same quarter in the previous year, the business posted $1.96 EPS. The firm’s revenue was up 7.9% compared to the same quarter last year.
A number of equities analysts have commented on LEN shares. Bank of America lowered shares of Lennar from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $78.00 to $66.00 in a report on Thursday. BTIG Research boosted their price objective on shares of Lennar from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, January 9th. They noted that the move was a valuation call. Goldman Sachs Group started coverage on shares of Lennar in a report on Friday, December 6th. They issued a “buy” rating and a $71.00 price objective on the stock. Wedbush reiterated a “buy” rating and issued a $72.00 price objective on shares of Lennar in a report on Monday, December 30th. Finally, Barclays reiterated a “buy” rating and issued a $78.00 price objective on shares of Lennar in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $64.50.
Shares of LEN stock opened at $46.42 on Tuesday. Lennar has a 12 month low of $43.74 and a 12 month high of $71.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 14.37 and a quick ratio of 1.15. The firm has a market capitalization of $18.75 billion, a P/E ratio of 8.06, a P/E/G ratio of 0.94 and a beta of 0.98. The company’s fifty day moving average price is $66.45 and its two-hundred day moving average price is $59.77.
In related news, Director Scott D. Stowell sold 300,000 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $67.20, for a total transaction of $20,160,000.00. Following the completion of the sale, the director now owns 201,978 shares of the company’s stock, valued at approximately $13,572,921.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David M. Collins sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.54, for a total transaction of $625,400.00. Following the sale, the insider now directly owns 116,631 shares of the company’s stock, valued at approximately $7,294,102.74. The disclosure for this sale can be found here. Insiders sold a total of 360,000 shares of company stock valued at $23,840,200 in the last three months. Insiders own 8.60% of the company’s stock.
Several large investors have recently made changes to their positions in LEN. Allred Capital Management LLC acquired a new position in Lennar during the 4th quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. acquired a new position in Lennar during the 4th quarter valued at about $78,000. CSat Investment Advisory L.P. boosted its stake in Lennar by 11.3% during the 4th quarter. CSat Investment Advisory L.P. now owns 1,528 shares of the construction company’s stock valued at $85,000 after purchasing an additional 155 shares during the period. Evoke Wealth LLC acquired a new position in Lennar during the 3rd quarter valued at about $106,000. Finally, Penserra Capital Management LLC lifted its stake in shares of Lennar by 38.0% in the 3rd quarter. Penserra Capital Management LLC now owns 2,065 shares of the construction company’s stock worth $114,000 after acquiring an additional 569 shares during the period. 84.21% of the stock is owned by institutional investors and hedge funds.
About Lennar
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
