Lennar (LEN) Scheduled to Post Earnings on Wednesday

Posted by Defense World Staff on Jun 7th, 2023

Lennar (NYSE:LEN – Get Rating) is scheduled to post its quarterly earnings results after the market closes on Wednesday, June 14th. Analysts expect Lennar to post earnings of $2.30 per share for the quarter. Lennar has set its Q2 guidance at $2.10-$2.55 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Lennar (NYSE:LEN – Get Rating) last posted its quarterly earnings results on Wednesday, March 15th. The construction company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.56. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $5.99 billion. Lennar had a net margin of 13.86% and a return on equity of 21.18%. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.70 earnings per share. On average, analysts expect Lennar to post $10 EPS for the current fiscal year and $10 EPS for the next fiscal year.

Lennar Stock Performance

Shares of NYSE:LEN opened at $116.00 on Wednesday. The company has a market cap of $33.57 billion, a price-to-earnings ratio of 7.19, a price-to-earnings-growth ratio of 1.92 and a beta of 1.44. The company has a 50-day moving average price of $109.46 and a 200-day moving average price of $100.69. The company has a current ratio of 7.82, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Lennar has a 12 month low of $62.54 and a 12 month high of $116.43.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 10th. Stockholders of record on Wednesday, April 26th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Tuesday, April 25th. Lennar’s dividend payout ratio (DPR) is 9.30%.

Wall Street Analyst Weigh In

LEN has been the subject of several recent analyst reports. Credit Suisse Group upped their price objective on shares of Lennar from $88.00 to $96.00 and gave the company a “neutral” rating in a research note on Thursday, March 16th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Lennar in a research note on Wednesday, May 31st. They set a “sell” rating and a $105.00 price objective for the company. StockNews.com initiated coverage on shares of Lennar in a report on Thursday, May 18th. They issued a “buy” rating for the company. BTIG Research raised their price objective on shares of Lennar from $116.00 to $120.00 in a report on Thursday, March 16th. Finally, Citigroup raised their price objective on shares of Lennar from $113.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, March 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $106.47.

Insider Buying and Selling at Lennar

In other news, CFO Diane J. Bessette sold 9,289 shares of the company’s stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $103.16, for a total value of $958,253.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lennar

A number of hedge funds and other institutional investors have recently bought and sold shares of LEN. Toroso Investments LLC increased its stake in Lennar by 5.6% during the 1st quarter. Toroso Investments LLC now owns 7,869 shares of the construction company’s stock valued at $827,000 after purchasing an additional 414 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Lennar by 31.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 11,601 shares of the construction company’s stock valued at $1,219,000 after purchasing an additional 2,758 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in Lennar by 29.4% during the 1st quarter. Rockefeller Capital Management L.P. now owns 8,787 shares of the construction company’s stock valued at $922,000 after purchasing an additional 1,997 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in Lennar by 0.5% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 147,341 shares of the construction company’s stock valued at $15,487,000 after purchasing an additional 678 shares in the last quarter. Finally, MidWestOne Financial Group Inc. acquired a new position in Lennar during the 1st quarter valued at approximately $231,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Lennar Company Profile

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Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.