Lennar Co. (NYSE:LEN) Forecasted to Post Q4 2024 Earnings of $4.30 Per Share

Lennar Co. (NYSE:LEN) – Equities researchers at Seaport Res Ptn cut their Q4 2024 earnings per share (EPS) estimates for shares of Lennar in a report issued on Sunday, October 6th. Seaport Res Ptn analyst K. Zener now anticipates that the construction company will post earnings of $4.30 per share for the quarter, down from their previous forecast of $5.12. The consensus estimate for Lennar’s current full-year earnings is $14.13 per share.

A number of other analysts have also recently issued reports on the company. Argus boosted their price objective on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Royal Bank of Canada lifted their target price on shares of Lennar from $145.00 to $160.00 and gave the company an “underperform” rating in a research report on Monday, September 23rd. Barclays increased their price target on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods lifted their price objective on Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company lowered Lennar from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $205.00 to $190.00 in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Lennar presently has a consensus rating of “Hold” and an average price target of $181.11.

Lennar Stock Down 1.2 %

LEN stock opened at $178.20 on Wednesday. The business’s 50-day simple moving average is $179.82 and its 200 day simple moving average is $166.02. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The company has a market cap of $48.93 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. Lennar has a twelve month low of $102.90 and a twelve month high of $193.80.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. The business had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. Lennar’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.91 earnings per share.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar’s dividend payout ratio is 13.60%.

Hedge Funds Weigh In On Lennar

Large investors have recently made changes to their positions in the company. Rise Advisors LLC boosted its stake in Lennar by 484.0% in the first quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after acquiring an additional 121 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Lennar during the first quarter worth $30,000. New Covenant Trust Company N.A. bought a new stake in Lennar in the first quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new position in Lennar during the first quarter worth about $35,000. Finally, Fortitude Family Office LLC raised its position in shares of Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock valued at $35,000 after acquiring an additional 161 shares during the period. Institutional investors and hedge funds own 81.10% 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.