Lennar (LEN) to Release Earnings on Thursday

Lennar (NYSE:LEN) is set to issue its quarterly earnings data after the market closes on Thursday, September 19th. Analysts expect the company to announce earnings of $3.62 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Lennar (NYSE:LEN) last issued its earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share for the quarter, beating the consensus estimate of $3.20 by $0.18. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.57 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. On average, analysts expect Lennar to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Lennar Stock Down 1.1 %

Shares of NYSE:LEN opened at $178.19 on Thursday. The company has a market cap of $48.93 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.63 and a beta of 1.61. The firm’s 50-day simple moving average is $171.04 and its 200-day simple moving average is $162.55. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $186.60.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 5th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, July 5th. Lennar’s payout ratio is 13.60%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LEN. Wells Fargo & Company lifted their target price on shares of Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Monday. Wedbush reiterated a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a research note on Wednesday. Argus raised their price objective on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Finally, BTIG Research reduced their price objective on shares of Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $172.69.

About Lennar

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.