$6.56 Billion in Sales Expected for Lennar Co. (LEN) This Quarter

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Wall Street analysts expect that Lennar Co. (NYSE:LEN) will report sales of $6.56 billion for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Lennar’s earnings, with the lowest sales estimate coming in at $6.45 billion and the highest estimate coming in at $6.71 billion. Lennar posted sales of $3.79 billion in the same quarter last year, which would indicate a positive year over year growth rate of 73.1%. The company is expected to announce its next quarterly earnings report on Wednesday, January 9th.

On average, analysts expect that Lennar will report full year sales of $20.67 billion for the current fiscal year, with estimates ranging from $20.56 billion to $20.82 billion. For the next year, analysts anticipate that the company will post sales of $23.54 billion, with estimates ranging from $23.19 billion to $23.99 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Lennar.

Lennar (NYSE:LEN) last announced its earnings results on Wednesday, October 3rd. The construction company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.11. Lennar had a return on equity of 12.87% and a net margin of 6.76%. The company had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same period last year, the business posted $1.06 EPS. The company’s revenue was up 73.9% on a year-over-year basis.

Several brokerages have weighed in on LEN. Wedbush upgraded Lennar from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $56.00 to $50.00 in a research note on Monday. TheStreet downgraded Lennar from a “b-” rating to a “c+” rating in a research note on Tuesday, October 23rd. Deutsche Bank upgraded Lennar from a “hold” rating to a “buy” rating and decreased their price target for the company from $58.00 to $51.00 in a research note on Monday, October 22nd. Mizuho set a $60.00 price target on Lennar and gave the company a “buy” rating in a research note on Wednesday, October 17th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $45.00 price target (down from $55.00) on shares of Lennar in a research note on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $63.38.

Shares of LEN stock traded up $0.13 during midday trading on Wednesday, hitting $43.17. The company had a trading volume of 72,890 shares, compared to its average volume of 6,397,715. Lennar has a 52-week low of $38.79 and a 52-week high of $72.17. The company has a market capitalization of $13.80 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 0.46 and a beta of 1.23. 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 also recently announced a quarterly dividend, which will be paid on Friday, November 2nd. Shareholders of record on Friday, October 19th will be given a dividend of $0.04 per share. The ex-dividend date is Thursday, October 18th. This represents a $0.16 dividend on an annualized basis and a yield of 0.37%. Lennar’s payout ratio is 4.20%.

In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $46.98, for a total transaction of $939,600.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its position in Lennar by 7.8% during the second quarter. Commonwealth Equity Services LLC now owns 13,363 shares of the construction company’s stock worth $702,000 after purchasing an additional 966 shares in the last quarter. Brown Advisory Inc. boosted its position in Lennar by 16.1% during the second quarter. Brown Advisory Inc. now owns 6,999 shares of the construction company’s stock worth $368,000 after purchasing an additional 972 shares in the last quarter. Trust Co boosted its position in Lennar by 15.4% during the first quarter. Trust Co now owns 8,349 shares of the construction company’s stock worth $492,000 after purchasing an additional 1,115 shares in the last quarter. Neuburgh Advisers LLC boosted its position in Lennar by 6.6% during the second quarter. Neuburgh Advisers LLC now owns 18,288 shares of the construction company’s stock worth $960,000 after purchasing an additional 1,136 shares in the last quarter. Finally, LPL Financial LLC boosted its position in Lennar by 8.7% during the first quarter. LPL Financial LLC now owns 14,515 shares of the construction company’s stock worth $856,000 after purchasing an additional 1,157 shares in the last quarter. Institutional investors own 86.01% of the company’s stock.

About Lennar

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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