Lennar (NYSE:LEN) Updates Q1 Earnings Guidance

Lennar (NYSE:LEN) issued an update on its first quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.60-$1.80 for the period, compared to the consensus EPS estimate of $2.45.

Lennar Stock Performance

LEN stock traded down $6.87 during midday trading on Thursday, reaching $139.06. 3,876,902 shares of the company’s stock traded hands, compared to its average volume of 2,068,279. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08. Lennar has a 52-week low of $135.21 and a 52-week high of $193.80. The stock has a market cap of $37.72 billion, a P/E ratio of 9.21, a PEG ratio of 1.31 and a beta of 1.61. The stock’s 50-day moving average is $170.57 and its 200 day moving average is $169.80.

Lennar (NYSE:LEN) last issued its 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 15.47% and a net margin of 11.51%. The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $10.06 billion. During the same period in the prior year, the company posted $4.82 EPS. The company’s quarterly revenue was down 9.3% on a year-over-year basis. As a group, analysts anticipate that Lennar will post 14.11 EPS for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.44%. The ex-dividend date was Wednesday, October 9th. Lennar’s dividend payout ratio is presently 13.25%.

Analyst Ratings Changes

Several research firms recently commented on LEN. Keefe, Bruyette & Woods boosted their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Bank of America increased their price objective on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Royal Bank of Canada lifted their price objective on Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research note on Monday, September 23rd. Finally, Bank Of America (Bofa) increased their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, September 20th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $182.88.

Insider Activity at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the transaction, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.36% of the company’s stock.

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.