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 Stock Down 5.0 %

Lennar stock opened at $148.76 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.27 and a current ratio of 5.47. The firm has a market capitalization of $41.41 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 1.46 and a beta of 1.56. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $172.59. The stock’s fifty day moving average is $157.06 and its two-hundred day moving average is $154.86.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.34%. The ex-dividend date was Tuesday, April 23rd. Lennar’s dividend payout ratio (DPR) is 13.60%.

Analysts Set New Price Targets

LEN has been the topic of several research reports. Wells Fargo & Company upped their target price on Lennar from $165.00 to $175.00 and gave the company an overweight rating in a report on Friday, March 15th. Barclays increased their price objective on Lennar from $173.00 to $180.00 and gave the company an overweight rating in a research note on Friday, March 15th. JMP Securities reaffirmed a market outperform rating and set a $170.00 price objective on shares of Lennar in a research note on Friday, March 15th. JPMorgan Chase & Co. decreased their price objective on Lennar from $161.00 to $157.00 and set a neutral rating on the stock in a research note on Monday, March 18th. Finally, Oppenheimer reaffirmed a market perform rating on shares of Lennar in a research note on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $166.80.

Insider Buying and Selling

In related news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total transaction of $1,701,100.00. Following the transaction, the insider now directly owns 118,629 shares in the company, valued at $20,179,979.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Amy Banse acquired 1,575 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the acquisition, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total value of $1,701,100.00. Following the completion of the transaction, the insider now owns 118,629 shares in the company, valued at $20,179,979.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,176 shares of company stock worth $4,841,039. 9.36% of the stock is owned by company insiders.

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.