Lennar Corporation Plans Quarterly Dividend of $0.50 (NYSE:LEN)

Lennar Corporation (NYSE:LEN) announced a quarterly dividend on Thursday, June 25th. Shareholders of record on Friday, July 10th will be paid a dividend of 0.50 per share by the construction company on Friday, July 24th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, July 10th.

Lennar has raised its dividend by an average of 0.8%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Lennar has a dividend payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Lennar to earn $7.11 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 28.1%.

Lennar Stock Up 0.9%

LEN opened at $93.78 on Friday. Lennar has a 12 month low of $81.18 and a 12 month high of $144.24. The business has a 50-day moving average of $89.68 and a two-hundred day moving average of $100.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91. The stock has a market capitalization of $23.16 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 3.05 and a beta of 1.39.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. During the same period in the prior year, the firm posted $1.81 EPS. The company’s revenue was down 5.2% on a year-over-year basis. On average, research analysts expect that Lennar will post 5.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. BTIG Research set a $67.00 price target on shares of Lennar in a research note on Monday, June 15th. The Goldman Sachs Group reissued a “neutral” rating on shares of Lennar in a research note on Friday, June 5th. Royal Bank Of Canada cut their target price on Lennar from $88.00 to $85.00 and set an “underperform” rating on the stock in a research report on Monday, June 15th. JPMorgan Chase & Co. reduced their target price on Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a report on Tuesday, June 16th. Finally, UBS Group lowered their price target on Lennar from $107.00 to $94.00 and set a “neutral” rating for the company in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat.com, Lennar has an average rating of “Reduce” and an average target price of $95.00.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.