Lennar Co. (NYSE:LEN) – KeyCorp dropped their Q3 2019 EPS estimates for shares of Lennar in a report released on Tuesday, June 25th, according to Zacks Investment Research. KeyCorp analyst K. Zener now forecasts that the construction company will earn $1.32 per share for the quarter, down from their previous forecast of $1.54. KeyCorp currently has a “Overweight” rating and a $57.00 price objective on the stock. KeyCorp also issued estimates for Lennar’s FY2020 earnings at $5.32 EPS.
Lennar (NYSE:LEN) last issued its earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.17. Lennar had a return on equity of 12.03% and a net margin of 8.86%. The firm had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.13 billion. During the same quarter last year, the business earned $1.58 earnings per share. The company’s revenue was up 1.9% compared to the same quarter last year.
Shares of NYSE LEN traded down $0.49 during mid-day trading on Friday, reaching $46.27. 2,581,100 shares of the company’s stock were exchanged, compared to its average volume of 3,799,843. The stock has a market capitalization of $15.06 billion, a price-to-earnings ratio of 7.29, a price-to-earnings-growth ratio of 1.03 and a beta of 1.18. The company has a debt-to-equity ratio of 0.62, a current ratio of 13.93 and a quick ratio of 0.79. The firm’s fifty day moving average is $50.02. Lennar has a twelve month low of $37.29 and a twelve month high of $55.13.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Thursday, July 11th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Wednesday, July 10th. Lennar’s dividend payout ratio is presently 2.52%.
In related news, President Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $49.04, for a total value of $980,800.00. Following the sale, the president now owns 346,946 shares of the company’s stock, valued at approximately $17,014,231.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.43% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. CI Investments Inc. grew its stake in Lennar by 188.5% in the fourth quarter. CI Investments Inc. now owns 756 shares of the construction company’s stock valued at $30,000 after purchasing an additional 494 shares in the last quarter. Penserra Capital Management LLC bought a new position in Lennar in the first quarter valued at approximately $57,000. Valley National Advisers Inc. bought a new position in Lennar in the fourth quarter valued at approximately $49,000. Meeder Asset Management Inc. bought a new position in Lennar in the first quarter valued at approximately $65,000. Finally, Hilton Capital Management LLC bought a new position in Lennar in the first quarter valued at approximately $109,000. Hedge funds and other institutional investors own 85.74% of the company’s stock.
Lennar Company Profile
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.
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