$5.54 Billion in Sales Expected for Lennar Co. (NYSE:LEN) This Quarter

Equities research analysts expect that Lennar Co. (NYSE:LEN) will post sales of $5.54 billion for the current quarter, according to Zacks. Three analysts have provided estimates for Lennar’s earnings. The highest sales estimate is $5.63 billion and the lowest is $5.45 billion. Lennar posted sales of $5.67 billion during the same quarter last year, which suggests a negative year over year growth rate of 2.3%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 2nd.

According to Zacks, analysts expect that Lennar will report full-year sales of $21.61 billion for the current year, with estimates ranging from $21.49 billion to $21.84 billion. For the next year, analysts anticipate that the firm will report sales of $21.95 billion, with estimates ranging from $21.10 billion to $22.44 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Lennar.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.17. Lennar had a net margin of 8.86% and a return on equity of 12.03%. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter last year, the firm posted $1.58 EPS. The business’s revenue was up 1.9% compared to the same quarter last year.

Several equities analysts have weighed in on LEN shares. JPMorgan Chase & Co. dropped their target price on shares of Lennar from $57.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, June 26th. Zacks Investment Research downgraded shares of Lennar from a “hold” rating to a “sell” rating and set a $53.00 target price for the company. in a report on Thursday, May 30th. Raymond James downgraded shares of Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 target price for the company. in a report on Tuesday, June 18th. They noted that the move was a valuation call. Susquehanna Bancshares restated a “neutral” rating and set a $57.00 target price (down from $64.00) on shares of Lennar in a report on Wednesday, April 17th. Finally, Bank of America dropped their target price on shares of Lennar from $57.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $56.89.

NYSE:LEN opened at $47.57 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 13.93 and a quick ratio of 0.79. The company’s 50-day simple moving average is $48.95. Lennar has a twelve month low of $37.29 and a twelve month high of $54.50. The stock has a market cap of $15.46 billion, a P/E ratio of 7.49, a P/E/G ratio of 1.05 and a beta of 1.18.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, July 10th. This represents a $0.16 annualized dividend and a dividend yield of 0.34%. Lennar’s dividend payout ratio is currently 2.52%.

In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $49.04, for a total transaction of $980,800.00. Following the sale, the president now directly owns 346,946 shares of the company’s stock, valued at approximately $17,014,231.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.43% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LEN. Highland Capital Management LLC lifted its position in Lennar by 9.1% during the first quarter. Highland Capital Management LLC now owns 113,617 shares of the construction company’s stock valued at $5,577,000 after buying an additional 9,464 shares in the last quarter. Macquarie Group Ltd. lifted its position in Lennar by 5,113.8% during the fourth quarter. Macquarie Group Ltd. now owns 241,400 shares of the construction company’s stock valued at $9,451,000 after buying an additional 236,770 shares in the last quarter. Tibra Equities Europe Ltd acquired a new position in Lennar during the first quarter valued at approximately $604,000. State of Wisconsin Investment Board lifted its position in Lennar by 64.6% during the first quarter. State of Wisconsin Investment Board now owns 273,325 shares of the construction company’s stock valued at $13,418,000 after buying an additional 107,299 shares in the last quarter. Finally, Norinchukin Bank The lifted its position in Lennar by 1.3% during the first quarter. Norinchukin Bank The now owns 54,272 shares of the construction company’s stock valued at $2,664,000 after buying an additional 682 shares in the last quarter. 85.65% of the stock is currently owned by institutional investors and hedge funds.

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, 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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