Lennar Corp. (NYSE:LEN) – Equities researchers at KeyCorp raised their FY2016 EPS estimates for shares of Lennar Corp. in a research note issued on Thursday. KeyCorp analyst K. Zener now forecasts that the brokerage will post earnings per share of $3.91 for the year, up from their prior estimate of $3.86. KeyCorp also issued estimates for Lennar Corp.’s Q4 2016 earnings at $1.31 EPS, Q1 2017 earnings at $0.54 EPS, Q2 2017 earnings at $0.98 EPS, Q3 2017 earnings at $1.18 EPS and Q4 2017 earnings at $1.38 EPS.
LEN has been the topic of several other research reports. MKM Partners set a $52.00 price target on Lennar Corp. and gave the company a “hold” rating in a research note on Wednesday, September 14th. Bank of America Corp. set a $52.00 price objective on Lennar Corp. and gave the company a “buy” rating in a report on Tuesday. Credit Suisse Group AG reissued a “hold” rating on shares of Lennar Corp. in a report on Tuesday, June 28th. Zacks Investment Research cut Lennar Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 29th. Finally, RBC Capital Markets reissued a “buy” rating and issued a $55.00 price objective (down previously from $64.00) on shares of Lennar Corp. in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $54.03.
Lennar Corp. (NYSE:LEN) opened at 43.11 on Friday. The firm’s 50-day moving average price is $46.14 and its 200 day moving average price is $46.42. Lennar Corp. has a 12-month low of $37.14 and a 12-month high of $52.50. The stock has a market cap of $9.45 billion, a PE ratio of 11.34 and a beta of 1.37.
Lennar Corp. (NYSE:LEN) last released its quarterly earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.12. The business earned $2.83 billion during the quarter. Lennar Corp. had a return on equity of 14.34% and a net margin of 8.37%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 EPS.
Several large investors have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC raised its position in shares of Lennar Corp. by 492.9% in the second quarter. Ropes Wealth Advisors LLC now owns 2,591 shares of the company’s stock valued at $119,000 after buying an additional 2,154 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in shares of Lennar Corp. by 160.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,767 shares of the company’s stock valued at $128,000 after buying an additional 1,705 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Lennar Corp. by 18.9% in the second quarter. Pacer Advisors Inc. now owns 3,211 shares of the company’s stock valued at $148,000 after buying an additional 510 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Lennar Corp. by 1,971.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,432 shares of the company’s stock valued at $204,000 after buying an additional 4,218 shares during the last quarter. Finally, Chartist Inc. CA acquired a new position in shares of Lennar Corp. during the second quarter valued at $206,000. Institutional investors and hedge funds own 86.39% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. Lennar Corp.’s dividend payout ratio (DPR) is presently 4.21%.
About Lennar Corp.
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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