Lennar Corporation (LEN) Expected to Announce Quarterly Sales of $3.24 Billion
Equities analysts predict that Lennar Corporation (NYSE:LEN) will post sales of $3.24 billion for the current quarter, according to Zacks. Five analysts have made estimates for Lennar Corporation’s earnings. The lowest sales estimate is $3.07 billion and the highest is $3.34 billion. Lennar Corporation reported sales of $2.83 billion in the same quarter last year, which indicates a positive year over year growth rate of 14.5%. The company is scheduled to announce its next quarterly earnings report on Tuesday, September 19th.
On average, analysts expect that Lennar Corporation will report full year sales of $3.24 billion for the current year, with estimates ranging from $12.17 billion to $12.83 billion. For the next financial year, analysts forecast that the business will post sales of $13.82 billion per share, with estimates ranging from $13.16 billion to $14.23 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Lennar Corporation.
Lennar Corporation (NYSE:LEN) last issued its quarterly earnings data on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.13. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS.
LEN has been the topic of a number of recent analyst reports. Mizuho initiated coverage on Lennar Corporation in a research note on Tuesday, May 16th. They set a “buy” rating and a $59.00 price target on the stock. Zacks Investment Research raised Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Tuesday, May 23rd. Wedbush reissued a “neutral” rating and set a $46.00 price target on shares of Lennar Corporation in a research note on Thursday, June 15th. BidaskClub lowered Lennar Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Royal Bank Of Canada increased their price target on Lennar Corporation from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $56.41.
In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $53.17, for a total value of $1,063,400.00. Following the transaction, the chief operating officer now directly owns 139,433 shares of the company’s stock, valued at $7,413,652.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.18% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. raised its position in Lennar Corporation by 8.9% in the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after buying an additional 155 shares during the period. Commonwealth Bank of Australia increased its stake in shares of Lennar Corporation by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock valued at $114,000 after buying an additional 530 shares in the last quarter. Washington Trust Bank increased its stake in shares of Lennar Corporation by 47.6% in the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock valued at $131,000 after buying an additional 794 shares in the last quarter. QS Investors LLC increased its stake in shares of Lennar Corporation by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after buying an additional 25 shares in the last quarter. Finally, MUFG Americas Holdings Corp increased its stake in shares of Lennar Corporation by 8.9% in the first quarter. MUFG Americas Holdings Corp now owns 3,030 shares of the construction company’s stock valued at $155,000 after buying an additional 248 shares in the last quarter. 81.09% of the stock is currently owned by institutional investors.
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Lennar Corporation (NYSE LEN) opened at 50.49 on Wednesday. Lennar Corporation has a 52-week low of $39.68 and a 52-week high of $55.75. The stock’s 50 day moving average price is $53.24 and its 200 day moving average price is $51.51. The company has a market cap of $11.84 billion, a P/E ratio of 14.76 and a beta of 1.26.
Lennar Corporation Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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