Analysts Expect Lennar Co. (LEN) to Announce $0.80 EPS

Brokerages expect Lennar Co. (NYSE:LEN) to post earnings per share (EPS) of $0.80 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Lennar’s earnings. The lowest EPS estimate is $0.62 and the highest is $0.90. Lennar reported earnings per share of $0.59 during the same quarter last year, which indicates a positive year over year growth rate of 35.6%. The firm is scheduled to announce its next earnings results on Monday, April 9th.

On average, analysts expect that Lennar will report full-year earnings of $5.14 per share for the current fiscal year, with EPS estimates ranging from $4.88 to $5.50. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.81 per share, with EPS estimates ranging from $5.63 to $6.01. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Lennar.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, January 10th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.21). The company had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.59 billion. Lennar had a net margin of 6.41% and a return on equity of 12.00%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.34 earnings per share.

A number of analysts have weighed in on LEN shares. Wedbush set a $60.00 price target on Lennar and gave the company a “hold” rating in a research note on Thursday, January 4th. Credit Suisse Group upgraded Lennar from a “neutral” rating to an “outperform” rating and raised their price target for the company from $67.00 to $81.00 in a research note on Monday, January 22nd. Zacks Investment Research cut Lennar from a “buy” rating to a “hold” rating in a research note on Monday, January 15th. Wells Fargo & Co upgraded Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, Mizuho restated a “hold” rating and issued a $53.00 price target on shares of Lennar in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Lennar has an average rating of “Buy” and an average target price of $65.00.

Shares of Lennar (NYSE:LEN) opened at $60.44 on Wednesday. The stock has a market capitalization of $13,574.50, a price-to-earnings ratio of 17.67, a PEG ratio of 0.61 and a beta of 1.26. The company has a quick ratio of 1.67, a current ratio of 8.42 and a debt-to-equity ratio of 0.80. Lennar has a 52 week low of $44.07 and a 52 week high of $72.17.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 26th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Thursday, January 25th. Lennar’s payout ratio is 4.68%.

In other Lennar news, CFO Bruce E. Gross sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 371,043 shares of the company’s stock, valued at $22,262,580. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Bruce E. Gross sold 1,000 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $72.00, for a total value of $72,000.00. Following the transaction, the chief financial officer now directly owns 356,043 shares in the company, valued at approximately $25,635,096. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,000 shares of company stock worth $12,392,050. Corporate insiders own 12.18% of the company’s stock.

Several hedge funds have recently modified their holdings of the business. Capital Growth Management LP grew its holdings in shares of Lennar by 28.2% during the third quarter. Capital Growth Management LP now owns 1,090,000 shares of the construction company’s stock worth $57,552,000 after purchasing an additional 240,000 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Lennar by 2.8% during the third quarter. Eagle Asset Management Inc. now owns 1,076,505 shares of the construction company’s stock worth $56,860,000 after purchasing an additional 29,016 shares during the last quarter. Swiss National Bank grew its holdings in shares of Lennar by 1.0% during the third quarter. Swiss National Bank now owns 748,500 shares of the construction company’s stock worth $39,521,000 after purchasing an additional 7,500 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Lennar by 2.5% during the third quarter. California Public Employees Retirement System now owns 420,210 shares of the construction company’s stock worth $22,187,000 after purchasing an additional 10,410 shares during the last quarter. Finally, RWC Asset Management LLP grew its holdings in shares of Lennar by 20.6% during the third quarter. RWC Asset Management LLP now owns 358,295 shares of the construction company’s stock worth $18,918,000 after purchasing an additional 61,163 shares during the last quarter. 80.79% of the stock is currently owned by institutional investors.

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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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