Lennar Co. Forecasted to Post FY2024 Earnings of $14.09 Per Share (NYSE:LEN)

Lennar Co. (NYSE:LEN) – Investment analysts at Zacks Research lowered their FY2024 earnings per share estimates for shares of Lennar in a research report issued on Wednesday, October 9th. Zacks Research analyst A. Gupta now expects that the construction company will post earnings per share of $14.09 for the year, down from their previous estimate of $14.39. The consensus estimate for Lennar’s current full-year earnings is $14.28 per share. Zacks Research also issued estimates for Lennar’s Q1 2025 earnings at $2.84 EPS, Q2 2025 earnings at $3.71 EPS, Q3 2025 earnings at $4.29 EPS, Q4 2025 earnings at $4.80 EPS, Q1 2026 earnings at $2.87 EPS, Q2 2026 earnings at $3.75 EPS and Q3 2026 earnings at $4.57 EPS.

Several other analysts have also recently commented on the company. JMP Securities raised their target price on Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Wednesday, September 25th. Bank Of America (Bofa) raised their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Bank of America raised their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Finally, Evercore ISI reduced their price objective on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Lennar currently has an average rating of “Hold” and an average price target of $181.11.

Lennar Stock Performance

Shares of NYSE LEN opened at $181.60 on Monday. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $49.87 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.68 and a beta of 1.61. The stock’s fifty day simple moving average is $180.15 and its 200 day simple moving average is $166.25. Lennar has a 52-week low of $102.90 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company had revenue of $9.42 billion for the quarter, compared to analysts’ expectations of $9.14 billion. During the same period last year, the firm earned $3.91 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.00 annualized dividend and a yield of 1.10%. Lennar’s dividend payout ratio (DPR) is currently 13.60%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Empirical Asset Management LLC boosted its position in Lennar by 5.7% in the third quarter. Empirical Asset Management LLC now owns 2,322 shares of the construction company’s stock valued at $435,000 after buying an additional 125 shares in the last quarter. Sapient Capital LLC lifted its holdings in Lennar by 0.4% in the third quarter. Sapient Capital LLC now owns 106,823 shares of the construction company’s stock valued at $20,027,000 after buying an additional 474 shares during the period. Procyon Advisors LLC lifted its holdings in Lennar by 1.5% in the third quarter. Procyon Advisors LLC now owns 9,714 shares of the construction company’s stock valued at $1,821,000 after buying an additional 148 shares during the period. Koshinski Asset Management Inc. bought a new stake in Lennar in the third quarter valued at $332,000. Finally, Crestmont Private Wealth LLC bought a new stake in Lennar in the third quarter valued at $223,000. 81.10% of the stock is owned by institutional investors.

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.