Lennar (NYSE: LEN – Get Rating) issued an update on its third quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $ 4.55- $ 5.45 for the period, compared to the consensus earnings per share estimate of $ 4.78. The company issued revenue guidance of -.
Shares of LEN stock opened at $ 65.65 on Wednesday. Lennar has a 52-week low of $ 62.54 and a 52-week high of $ 117.54. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.78 and a current ratio of 9.51. The firm has a market capitalization of $ 19.40 billion, a PE ratio of 5.14, a PEG ratio of 3.90 and a beta of 1.46. The stock has a fifty day simple moving average of $ 76.03 and a two-hundred day simple moving average of $ 89.08.
Lennar (NYSE: LEN – Get Rating) last announced its quarterly earnings data on Tuesday, June 21st. The construction company reported $ 4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 3.99 by $ 0.50. Lennar had a return on equity of 19.79% and a net margin of 14.04%. During the same period in the prior year, the company posted $ 2.95 earnings per share. On average, sell-side analysts forecast that Lennar will post 16.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 10th. Stockholders of record on Tuesday, April 26th were paid a dividend of $ 0.375 per share. This represents a $ 1.50 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Monday, April 25th. Lennar’s dividend payout ratio (DPR) is presently 11.75%.
A number of equities research analysts have recently weighed in on LEN shares. Credit Suisse Group started coverage on Lennar in a research note on Tuesday, April 5th. They set a neutral rating and a $ 88.00 price target for the company. BTIG Research increased their objective price on Lennar from $ 92.00 to $ 97.00 in a report on Wednesday. Evercore ISI assumed coverage on Lennar in a report on Friday, March 18th. They set a buy rating and a $ 151.00 price objective on the stock. StockNews.com lowered Lennar from a buy rating to a hold rating in a report on Tuesday, May 31st. Finally, Royal Bank of Canada lowered their target price on Lennar from $ 109.00 to $ 100.00 and set a sector perform rating on the stock in a report on Friday, March 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $ 94.15.
Hedge funds and other institutional investors have recently modified their holdings of the company. Moors & Cabot Inc. bought a new position in shares of Lennar in the 1st quarter valued at about $ 200,000. Sequoia Financial Advisors LLC bought a new position in shares of Lennar in the 4th quarter valued at about $ 338,000. Peapack Gladstone Financial Corp. boosted its stake in Lennar by 36.6% during the 4th quarter. Peapack Gladstone Financial Corp now owns 3,079 shares of the company’s construction stock worth $ 358,000 after acquiring an additional 825 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in Lennar by 42.3% during the 1st quarter. Golden State Wealth Management LLC now owns 3,205 shares of the company’s construction stock worth $ 324,000 after acquiring an additional 953 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its stake in Lennar by 51.6% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 3,457 shares of the construction company’s stock worth $ 281,000 after acquiring an additional 1,177 shares during the last quarter. 82.00% of the stock is currently owned by institutional investors.
About Lennar (Get Rating)
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.
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