Lennar Co. Declares Quarterly Dividend of $0.50 (NYSE:LEN)

Lennar Co. (NYSE:LEN) announced a quarterly dividend on Wednesday, September 25th, NASDAQ reports. Stockholders of record on Wednesday, October 9th will be given a dividend of 0.50 per share by the construction company on Thursday, October 24th. This represents a $2.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Wednesday, October 9th.

Lennar has raised its dividend payment by an average of 33.9% per year over the last three years. Lennar has a payout ratio of 12.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lennar to earn $15.95 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 12.5%.

Lennar Stock Performance

NYSE:LEN opened at $183.13 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The stock’s fifty day moving average is $177.93 and its 200 day moving average is $164.55. The firm has a market capitalization of $50.29 billion, a PE ratio of 12.45, a PEG ratio of 1.71 and a beta of 1.61. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $193.80.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter last year, the business earned $3.91 EPS. The business’s revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts anticipate that Lennar will post 14.13 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LEN shares. Bank Of America (Bofa) increased their price target on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Argus lifted their target price on Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Citigroup upped their price target on shares of Lennar from $164.00 to $196.00 and gave the stock a “neutral” rating in a report on Monday. JMP Securities lifted their price objective on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Lennar from $195.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $181.94.

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, 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.