Lennar Co. (LEN) Expected to Announce Earnings of $0.81 Per Share

Wall Street brokerages expect Lennar Co. (NYSE:LEN) to report earnings of $0.81 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Lennar’s earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $1.16. Lennar posted earnings of $1.11 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 27%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, April 3rd.

On average, analysts expect that Lennar will report full-year earnings of $6.02 per share for the current financial year, with EPS estimates ranging from $5.59 to $6.75. For the next financial year, analysts forecast that the company will report earnings of $6.52 per share, with EPS estimates ranging from $6.05 to $7.40. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Lennar.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, January 9th. The construction company reported $1.96 EPS for the quarter, beating the Zacks’ consensus estimate of $1.91 by $0.05. Lennar had a net margin of 8.24% and a return on equity of 13.76%. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.46 billion. During the same quarter in the prior year, the business earned $1.29 EPS. Lennar’s quarterly revenue was up 70.7% on a year-over-year basis.

A number of analysts have issued reports on the stock. Zacks Investment Research raised shares of Lennar from a “sell” rating to a “hold” rating in a report on Tuesday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $60.00 price objective on shares of Lennar in a report on Sunday, February 24th. Wedbush downgraded shares of Lennar from an “outperform” rating to a “neutral” rating and set a $50.00 price objective for the company. in a report on Thursday, February 21st. Credit Suisse Group reissued a “hold” rating and issued a $49.00 price objective on shares of Lennar in a report on Friday, February 15th. Finally, Royal Bank of Canada set a $53.00 price objective on shares of Lennar and gave the company a “buy” rating in a report on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $57.29.

In other news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $40.03, for a total transaction of $800,600.00. Following the completion of the sale, the chief operating officer now owns 171,014 shares of the company’s stock, valued at approximately $6,845,690.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.43% of the company’s stock.

Several institutional investors have recently modified their holdings of LEN. Oregon Public Employees Retirement Fund lifted its holdings in shares of Lennar by 5,332.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,346,825 shares of the construction company’s stock worth $111,000 after acquiring an additional 4,266,802 shares during the period. Abrams Bison Investments LLC bought a new stake in shares of Lennar during the 4th quarter worth approximately $115,281,000. Sound Shore Management Inc. CT bought a new stake in shares of Lennar during the 4th quarter worth approximately $105,318,000. Vanguard Group Inc. lifted its holdings in shares of Lennar by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 31,160,634 shares of the construction company’s stock worth $1,445,931,000 after acquiring an additional 1,099,188 shares during the period. Finally, MUFG Securities EMEA plc lifted its holdings in shares of Lennar by 7,486.3% during the 4th quarter. MUFG Securities EMEA plc now owns 600,000 shares of the construction company’s stock worth $23,490,000 after acquiring an additional 592,091 shares during the period. 84.53% of the stock is owned by institutional investors.

NYSE LEN opened at $48.02 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 11.48 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 0.58 and a beta of 1.32. Lennar has a 12-month low of $37.29 and a 12-month high of $64.90.

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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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Earnings History and Estimates for Lennar (NYSE:LEN)

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