Lennar Co. (NYSE:LEN) to Post Q1 2024 Earnings of $2.19 Per Share, Zacks Research Forecasts

Lennar Co. (NYSE:LENFree Report) – Zacks Research cut their Q1 2024 earnings per share (EPS) estimates for shares of Lennar in a report issued on Wednesday, January 31st. Zacks Research analyst A. Gupta now expects that the construction company will post earnings of $2.19 per share for the quarter, down from their previous estimate of $2.20. The consensus estimate for Lennar’s current full-year earnings is $14.36 per share. Zacks Research also issued estimates for Lennar’s Q3 2024 earnings at $3.67 EPS, Q4 2024 earnings at $4.52 EPS and FY2026 earnings at $17.12 EPS.

LEN has been the topic of several other research reports. JMP Securities lifted their price target on shares of Lennar from $150.00 to $170.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 19th. Raymond James lifted their price target on shares of Lennar from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Tuesday, December 19th. Jefferies Financial Group began coverage on shares of Lennar in a research report on Monday, November 27th. They set a “hold” rating and a $117.00 price target on the stock. Barclays boosted their target price on Lennar from $132.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Finally, StockNews.com raised Lennar from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.53.

Check Out Our Latest Report on LEN

Lennar Trading Up 2.7 %

LEN opened at $153.91 on Thursday. The firm has a market capitalization of $43.77 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 1.97 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 6.12 and a quick ratio of 1.72. The company’s 50 day simple moving average is $144.96 and its two-hundred day simple moving average is $127.31. Lennar has a 1-year low of $94.11 and a 1-year high of $156.01.

Lennar (NYSE:LENGet Free Report) last released its earnings results on Friday, December 15th. The construction company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.23. Lennar had a net margin of 11.51% and a return on equity of 15.84%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.22 billion. During the same period last year, the company posted $5.02 EPS. The business’s revenue was up 7.8% on a year-over-year basis.

Institutional Investors Weigh In On Lennar

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Lennar during the third quarter worth about $27,000. Criterion Capital Advisors LLC purchased a new position in Lennar during the fourth quarter worth about $36,000. Raleigh Capital Management Inc. purchased a new position in Lennar during the third quarter worth about $28,000. BluePath Capital Management LLC purchased a new position in Lennar during the third quarter worth about $29,000. Finally, Coppell Advisory Solutions LLC purchased a new position in Lennar during the second quarter worth about $46,000. 79.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP David M. Collins sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $130.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the vice president now owns 37,060 shares in the company, valued at $4,817,800. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Mark Sustana sold 37,304 shares of the business’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $146.38, for a total value of $5,460,559.52. Following the completion of the sale, the vice president now directly owns 18,694 shares of the company’s stock, valued at $2,736,427.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP David M. Collins sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $130.00, for a total transaction of $1,300,000.00. Following the completion of the sale, the vice president now directly owns 37,060 shares of the company’s stock, valued at $4,817,800. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,304 shares of company stock worth $8,237,860. Corporate insiders own 9.53% of the company’s stock.

Lennar Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.30%. This is an increase from Lennar’s previous quarterly dividend of $0.38. Lennar’s payout ratio is presently 14.53%.

Lennar Company Profile

(Get Free Report)

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, Financial Services, Multifamily, and Lennar Other 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; and development, construction, and management of multifamily rental properties.

See Also

Earnings History and Estimates for Lennar (NYSE:LEN)

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