Equities Analysts Issue Forecasts for Lennar Co.’s Q1 2019 Earnings (LEN)
Lennar Co. (NYSE:LEN) – Analysts at KeyCorp issued their Q1 2019 earnings per share (EPS) estimates for shares of Lennar in a research note issued to investors on Monday, January 14th. KeyCorp analyst K. Zener expects that the construction company will post earnings per share of $0.79 for the quarter. KeyCorp also issued estimates for Lennar’s Q2 2019 earnings at $1.35 EPS and Q4 2019 earnings at $1.98 EPS.
Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, January 9th. The construction company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.05. Lennar had a net margin of 8.24% and a return on equity of 14.02%. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.46 billion. During the same period in the previous year, the business posted $1.29 earnings per share. The business’s revenue for the quarter was up 70.7% on a year-over-year basis.
LEN opened at $45.36 on Wednesday. The company has a current ratio of 12.62, a quick ratio of 0.72 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $14.93 billion, a P/E ratio of 7.14, a price-to-earnings-growth ratio of 0.52 and a beta of 1.17. Lennar has a 12-month low of $37.29 and a 12-month high of $72.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Investors of record on Friday, January 25th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, January 24th. Lennar’s dividend payout ratio (DPR) is presently 2.52%.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $40.03, for a total value of $800,600.00. Following the completion of the sale, the chief operating officer now directly owns 171,014 shares of the company’s stock, valued at $6,845,690.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in LEN. Dubuque Bank & Trust Co. acquired a new position in shares of Lennar during the fourth quarter valued at about $55,000. Worth Venture Partners LLC acquired a new position in Lennar in the 3rd quarter worth approximately $106,000. D.A. Davidson & CO. acquired a new position in Lennar in the 3rd quarter worth approximately $206,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Lennar in the 3rd quarter worth approximately $233,000. Finally, Cerebellum GP LLC increased its holdings in Lennar by 65.6% in the 4th quarter. Cerebellum GP LLC now owns 6,294 shares of the construction company’s stock worth $246,000 after buying an additional 2,494 shares during the period. 84.48% of the stock is owned by institutional investors and hedge funds.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.
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