Wall Street analysts predict that Lennar Co. (NYSE:LEN) will post $5.67 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Lennar’s earnings, with estimates ranging from $5.55 billion to $5.85 billion. Lennar reported sales of $3.26 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 73.9%. The business is scheduled to report its next earnings results on Tuesday, October 2nd.
On average, analysts expect that Lennar will report full year sales of $20.90 billion for the current financial year, with estimates ranging from $20.69 billion to $21.22 billion. For the next fiscal year, analysts expect that the business will post sales of $24.19 billion per share, with estimates ranging from $23.40 billion to $25.06 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Lennar.
Lennar (NYSE:LEN) last announced its earnings results on Tuesday, June 26th. The construction company reported $1.58 EPS for the quarter, beating the consensus estimate of $0.45 by $1.13. Lennar had a return on equity of 12.82% and a net margin of 6.49%. The business had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the business posted $0.91 earnings per share. Lennar’s revenue was up 67.4% compared to the same quarter last year.
Several research analysts recently weighed in on LEN shares. Wedbush reissued a “neutral” rating and set a $56.00 price target (down from $62.00) on shares of Lennar in a research report on Wednesday, June 27th. They noted that the move was a valuation call. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Tuesday, June 5th. ValuEngine lowered Lennar from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Citigroup reissued a “buy” rating and set a $65.00 price target on shares of Lennar in a research report on Wednesday, June 27th. Finally, MKM Partners dropped their price target on Lennar to $71.00 and set a “buy” rating on the stock in a research report on Wednesday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $71.69.
NYSE:LEN traded down $0.29 during trading hours on Monday, hitting $52.23. 84,453 shares of the company’s stock traded hands, compared to its average volume of 2,299,525. The firm has a market capitalization of $17.02 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.44 and a beta of 1.25. Lennar has a twelve month low of $48.71 and a twelve month high of $72.17. The company has a current ratio of 11.81, a quick ratio of 0.76 and a debt-to-equity ratio of 0.73.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $52.12, for a total value of $1,042,400.00. Following the transaction, the chief operating officer now directly owns 212,333 shares of the company’s stock, valued at approximately $11,066,795.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.50% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its holdings in shares of Lennar by 7.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 13,363 shares of the construction company’s stock valued at $702,000 after acquiring an additional 966 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Lennar by 16.1% during the 2nd quarter. Brown Advisory Inc. now owns 6,999 shares of the construction company’s stock valued at $368,000 after acquiring an additional 972 shares during the last quarter. Advisor Partners LLC increased its holdings in shares of Lennar by 20.5% during the 1st quarter. Advisor Partners LLC now owns 6,284 shares of the construction company’s stock valued at $370,000 after acquiring an additional 1,069 shares during the last quarter. Trust Co increased its holdings in shares of Lennar by 15.4% during the 1st quarter. Trust Co now owns 8,349 shares of the construction company’s stock valued at $492,000 after acquiring an additional 1,115 shares during the last quarter. Finally, Neuburgh Advisers LLC increased its holdings in shares of Lennar by 6.6% during the 2nd quarter. Neuburgh Advisers LLC now owns 18,288 shares of the construction company’s stock valued at $960,000 after acquiring an additional 1,136 shares during the last quarter. 85.81% 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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