Lennar (NYSE:LEN) Issues Q1 Earnings Guidance

Lennar (NYSE:LEN) updated its first quarter earnings guidance on Thursday. The company provided earnings per share guidance of $1.60-$1.80 for the period, compared to the consensus earnings per share estimate of $2.45.

Lennar Price Performance

LEN stock traded down $7.06 during midday trading on Thursday, reaching $138.87. The stock had a trading volume of 4,043,910 shares, compared to its average volume of 2,068,657. The company has a market cap of $37.67 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. Lennar has a 52-week low of $135.21 and a 52-week high of $193.80. The company’s fifty day simple moving average is $170.57 and its 200 day simple moving average is $169.80. 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 (NYSE:LEN) last announced its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $10.06 billion. During the same period in the prior year, the company posted $4.82 EPS. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Lennar will post 14.11 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a yield of 1.44%. Lennar’s dividend payout ratio is currently 13.25%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LEN shares. Bank Of America (Bofa) boosted their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Zelman & Associates raised Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Barclays cut Lennar from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $210.00 to $181.00 in a report on Wednesday, December 11th. Royal Bank of Canada boosted their price target on shares of Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research note on Monday, September 23rd. Finally, JMP Securities raised their price objective on shares of Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $182.88.

Insider Activity

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 23,689 shares of the company’s stock, valued at approximately $4,148,654.57. This trade represents a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.