Lennar (NYSE:LEN – Get Rating) updated its fourth quarter 2022 earnings guidance on Saturday. The company provided earnings per share guidance of $4.65-$5.30 for the period, compared to the consensus earnings per share estimate of $5.40. The company issued revenue guidance of -.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Wells Fargo & Company cut their target price on Lennar from $85.00 to $74.00 and set an equal weight rating on the stock in a research note on Friday, June 17th. Barclays cut their price objective on shares of Lennar from $93.00 to $85.00 and set an equal weight rating on the stock in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. cut shares of Lennar from an overweight rating to a neutral rating and cut their price objective for the company from $83.00 to $80.00 in a research note on Tuesday, July 12th. BTIG Research cut their price objective on shares of Lennar from $97.00 to $92.00 in a research note on Friday, September 23rd. Finally, Bank of America cut shares of Lennar from a neutral rating to an underperform rating and set a $82.00 price objective on the stock. in a research note on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $95.43.
Lennar Trading Down 3.5 %
Shares of LEN opened at $73.46 on Friday. The business’s 50-day moving average price is $79.58 and its 200 day moving average price is $78.01. The stock has a market capitalization of $21.41 billion, a P/E ratio of 4.86, a P/E/G ratio of 4.29 and a beta of 1.45. Lennar has a 1-year low of $62.54 and a 1-year high of $117.54. The company has a current ratio of 7.73, a quick ratio of 0.62 and a debt-to-equity ratio of 0.18.
Lennar (NYSE:LEN – Get Rating) last issued its quarterly earnings results on Wednesday, September 21st. The construction company reported $5.18 earnings per share for the quarter, topping analysts’ consensus estimates of $4.76 by $0.42. The firm had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $9.04 billion. Lennar had a return on equity of 23.12% and a net margin of 14.04%. Analysts expect that Lennar will post 17.5 earnings per share for the current year.
Lennar Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Investors of record on Thursday, October 13th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.50 dividend on an annualized basis and a yield of 2.04%. Lennar’s dividend payout ratio is currently 9.92%.
Insider Buying and Selling at Lennar
In other Lennar news, VP David M. Collins sold 15,000 shares of Lennar stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $82.00, for a total transaction of $1,230,000.00. Following the transaction, the vice president now owns 41,382 shares of the company’s stock, valued at approximately $3,393,324. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.08% of the company’s stock.
Hedge Funds Weigh In On Lennar
Several institutional investors and hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. grew its stake in Lennar by 30.1% during the 2nd quarter. Macquarie Group Ltd. now owns 26,219 shares of the construction company’s stock valued at $1,850,000 after acquiring an additional 6,059 shares in the last quarter. Toroso Investments LLC grew its stake in shares of Lennar by 60.1% in the 1st quarter. Toroso Investments LLC now owns 7,388 shares of the construction company’s stock valued at $600,000 after buying an additional 2,772 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of Lennar by 42.3% in the 1st quarter. Golden State Wealth Management LLC now owns 3,205 shares of the construction company’s stock valued at $324,000 after buying an additional 953 shares in the last quarter. Wealthfront Advisers LLC grew its stake in shares of Lennar by 345.3% in the 1st quarter. Wealthfront Advisers LLC now owns 29,541 shares of the construction company’s stock valued at $2,397,000 after buying an additional 22,907 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. grew its stake in shares of Lennar by 9.5% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 9,645 shares of the construction company’s stock valued at $783,000 after buying an additional 840 shares in the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.
About Lennar
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.
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