Lennar (NYSE:LEN) Releases Q3 Earnings Guidance

Lennar (NYSE:LEN) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.50-$3.65 for the period, compared to the consensus estimate of $3.96.

Lennar Trading Down 4.7 %

Shares of NYSE LEN traded down $7.33 during mid-day trading on Tuesday, hitting $149.18. 3,660,383 shares of the company traded hands, compared to its average volume of 2,048,137. The stock has a market capitalization of $41.52 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.45 and a beta of 1.57. Lennar has a 1 year low of $102.90 and a 1 year high of $172.59. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average of $157.40 and a two-hundred day moving average of $154.74.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lennar’s dividend payout ratio is 14.02%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LEN. Evercore ISI raised their price target on Lennar from $224.00 to $238.00 and gave the company an outperform rating in a report on Friday, March 15th. Citigroup lifted their target price on Lennar from $179.00 to $198.00 and gave the company a buy rating in a research note on Friday, April 5th. UBS Group raised their price target on Lennar from $190.00 to $198.00 and gave the stock a buy rating in a research report on Friday, March 15th. Oppenheimer restated a market perform rating on shares of Lennar in a research report on Friday, March 15th. Finally, JMP Securities restated a market outperform rating and issued a $170.00 price target on shares of Lennar in a research report on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Lennar currently has a consensus rating of Hold and a consensus target price of $166.80.

Insider Activity at Lennar

In other news, Director Amy Banse bought 1,575 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average price of $157.00 per share, with a total value of $247,275.00. Following the completion of the purchase, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Amy Banse acquired 1,575 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were purchased at an average price of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the acquisition, the director now owns 11,859 shares of the company’s stock, valued at $1,861,863. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the transaction, the executive vice president now directly owns 128,629 shares in the company, valued at approximately $20,927,938.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,176 shares of company stock worth $4,841,039. Company 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.