Wall Street analysts forecast that Lennar Co. (NYSE:LEN) will post $4.59 billion in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Lennar’s earnings. The lowest sales estimate is $4.21 billion and the highest is $4.98 billion. Lennar reported sales of $2.98 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 54%. The company is expected to report its next quarterly earnings report on Wednesday, April 3rd.
According to Zacks, analysts expect that Lennar will report full year sales of $23.11 billion for the current year, with estimates ranging from $22.27 billion to $23.56 billion. For the next fiscal year, analysts forecast that the business will post sales of $24.45 billion, with estimates ranging from $23.60 billion to $25.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Lennar.
Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, January 9th. The construction company reported $1.96 EPS for the quarter, topping the Zacks’ consensus estimate of $1.91 by $0.05. Lennar had a return on equity of 14.02% and a net margin of 8.24%. The firm had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.46 billion. During the same quarter last year, the company earned $1.29 EPS. The company’s revenue was up 70.7% on a year-over-year basis.
Lennar stock traded up $1.24 during mid-day trading on Friday, reaching $46.41. 5,361,486 shares of the company were exchanged, compared to its average volume of 6,242,648. Lennar has a 12 month low of $37.29 and a 12 month high of $72.17. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.62 and a quick ratio of 0.72. The firm has a market cap of $15.29 billion, a PE ratio of 7.31, a price-to-earnings-growth ratio of 0.43 and a beta of 1.17.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 25th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, January 24th. Lennar’s dividend payout ratio (DPR) is 2.52%.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $40.03, for a total transaction of $800,600.00. Following the sale, the chief operating officer now owns 171,014 shares of the company’s stock, valued at approximately $6,845,690.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC boosted its holdings in shares of Lennar by 14.5% during the 3rd quarter. Belpointe Asset Management LLC now owns 6,306 shares of the construction company’s stock valued at $294,000 after acquiring an additional 797 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Lennar by 16.1% during the 2nd quarter. Brown Advisory Inc. now owns 6,999 shares of the construction company’s stock worth $368,000 after buying an additional 972 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in Lennar by 2.6% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 49,707 shares of the construction company’s stock worth $2,321,000 after buying an additional 1,262 shares during the period. Riverhead Capital Management LLC lifted its holdings in Lennar by 6.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 20,395 shares of the construction company’s stock worth $1,071,000 after buying an additional 1,314 shares during the period. Finally, Capital Analysts LLC lifted its holdings in Lennar by 7.3% during the 3rd quarter. Capital Analysts LLC now owns 20,650 shares of the construction company’s stock worth $964,000 after buying an additional 1,412 shares during the period. 84.53% of the stock is currently owned by institutional investors.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.
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