Lennar Co. (NYSE:LEN) Declares Dividend Increase – $0.38 Per Share

Lennar Co. (NYSE:LEN) declared a quarterly dividend on Wednesday, January 12th, Zacks reports. Investors of record on Thursday, January 27th will be given a dividend of 0.375 per share by the construction company on Thursday, February 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Wednesday, January 26th. This is a positive change from Lennar’s previous quarterly dividend of $0.25.

Lennar has increased its dividend by 525.0% over the last three years. Lennar has a payout ratio of 5.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lennar to earn $16.81 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 5.9%.

LEN opened at $108.54 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.41 and a current ratio of 9.56. Lennar has a fifty-two week low of $74.70 and a fifty-two week high of $117.54. The firm’s fifty day moving average is $110.15 and its 200 day moving average is $104.17. The stock has a market cap of $33.59 billion, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 1.11 and a beta of 1.51.

Lennar (NYSE:LEN) last released its earnings results on Wednesday, December 15th. The construction company reported $3.91 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.24). Lennar had a net margin of 16.33% and a return on equity of 19.45%. During the same quarter in the previous year, the firm posted $2.82 EPS. On average, equities research analysts predict that Lennar will post 15.6 earnings per share for the current year.

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Lennar from a “neutral” rating to a “buy” rating and lifted their target price for the company from $108.00 to $140.00 in a research note on Wednesday, December 1st. Zacks Investment Research upgraded shares of Lennar from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a research note on Sunday, December 5th. BTIG Research boosted their price target on shares of Lennar from $127.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, September 22nd. Wedbush boosted their price target on shares of Lennar from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 22nd. Finally, Royal Bank of Canada boosted their price target on shares of Lennar from $100.00 to $102.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 22nd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Lennar presently has a consensus rating of “Buy” and a consensus price target of $125.75.

About Lennar

Lennar Corp. is a homebuilder company which engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.

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Dividend History for Lennar (NYSE:LEN)

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