Lennar Co. (NYSE:LEN) Declares $0.50 Quarterly Dividend

Lennar Co. (NYSE:LEN) declared a quarterly dividend on Wednesday, September 25th, NASDAQ reports. Shareholders of record on Wednesday, October 9th will be given a dividend of 0.50 per share by the construction company on Thursday, October 24th. This represents a $2.00 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Wednesday, October 9th.

Lennar has increased its dividend by an average of 33.9% annually over the last three years. Lennar has a payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lennar to earn $15.95 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 12.5%.

Lennar Price Performance

LEN stock traded up $1.27 during mid-day trading on Thursday, reaching $183.13. 1,493,140 shares of the company traded hands, compared to its average volume of 2,086,328. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The company has a market capitalization of $50.29 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.71 and a beta of 1.61. Lennar has a 52-week low of $102.90 and a 52-week high of $193.80. The company has a fifty day moving average price of $177.67 and a 200-day moving average price of $164.42.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the previous year, the firm earned $3.91 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, analysts anticipate that Lennar will post 14.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LEN. Wedbush reaffirmed a “neutral” rating and set a $144.00 price objective on shares of Lennar in a report on Friday, September 20th. Keefe, Bruyette & Woods lifted their price objective on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Wells Fargo & Company lifted their price objective on shares of Lennar from $195.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Evercore ISI decreased their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $181.94.

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.