Lennar (LEN) Expected to Announce Quarterly Earnings on Thursday

Lennar (NYSE:LEN) will likely be announcing its earnings results before the market opens on Thursday, March 20th. Analysts expect the company to announce earnings of $1.76 per share and revenue of $7.44 billion for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. During the same period in the prior year, the business earned $4.82 earnings per share. Lennar’s revenue for the quarter was down 9.3% compared to the same quarter last year. On average, analysts expect Lennar to post $12 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Lennar Price Performance

Shares of NYSE LEN opened at $118.49 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The stock has a fifty day moving average price of $126.92 and a 200 day moving average price of $154.42. Lennar has a 1-year low of $115.61 and a 1-year high of $187.61. The company has a market cap of $31.46 billion, a PE ratio of 8.26, a P/E/G ratio of 1.24 and a beta of 1.69.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is 13.95%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lennar stock. Brighton Jones LLC grew its holdings in shares of Lennar Co. (NYSE:LEN) by 27.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,727 shares of the construction company’s stock after acquiring an additional 377 shares during the quarter. Brighton Jones LLC’s holdings in Lennar were worth $236,000 as of its most recent SEC filing. 81.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Keefe, Bruyette & Woods cut Lennar from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $152.00 to $141.00 in a report on Tuesday, March 11th. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Citigroup reduced their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. UBS Group reduced their price objective on Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Bank of America reduced their price objective on Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday. Fourteen analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lennar currently has an average rating of “Hold” and an average target price of $164.53.

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.