SunTrust Banks Weighs in on Lennar Co.’s Q3 2019 Earnings (NYSE:LEN)

Lennar Co. (NYSE:LEN) – Equities researchers at SunTrust Banks issued their Q3 2019 EPS estimates for shares of Lennar in a report released on Monday, August 12th. SunTrust Banks analyst R. Seth forecasts that the construction company will post earnings per share of $1.32 for the quarter. SunTrust Banks has a “Hold” rating and a $47.00 price target on the stock. SunTrust Banks also issued estimates for Lennar’s Q4 2019 earnings at $1.92 EPS, FY2019 earnings at $5.30 EPS, Q1 2020 earnings at $0.84 EPS, Q2 2020 earnings at $1.42 EPS, Q3 2020 earnings at $1.51 EPS, Q4 2020 earnings at $2.02 EPS, FY2020 earnings at $5.79 EPS and FY2021 earnings at $5.99 EPS.

Several other analysts have also commented on the stock. Raymond James lowered shares of Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price target on the stock. in a research report on Tuesday, June 18th. They noted that the move was a valuation call. Wedbush set a $62.00 price target on shares of Lennar and gave the company a “buy” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $57.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 26th. ValuEngine lowered shares of Lennar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research lowered shares of Lennar from a “hold” rating to a “sell” rating and set a $53.00 price target on the stock. in a research report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Lennar currently has an average rating of “Buy” and an average price target of $56.37.

LEN stock opened at $48.51 on Thursday. The firm has a market cap of $15.87 billion, a PE ratio of 7.64, a PEG ratio of 1.08 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 13.93. The firm’s 50 day moving average price is $48.09 and its 200-day moving average price is $49.69. Lennar has a one year low of $37.29 and a one year high of $54.50.

Lennar (NYSE:LEN) last released its earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.17. Lennar had a net margin of 8.86% and a return on equity of 12.03%. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period last year, the company posted $1.58 EPS. The business’s revenue was up 1.9% on a year-over-year basis.

Several large investors have recently bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Lennar by 71.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,735,815 shares of the construction company’s stock worth $229,498,000 after acquiring an additional 1,978,045 shares in the last quarter. Long Pond Capital LP grew its stake in shares of Lennar by 21.1% in the first quarter. Long Pond Capital LP now owns 2,327,633 shares of the construction company’s stock worth $114,264,000 after acquiring an additional 405,962 shares in the last quarter. Invesco Ltd. grew its stake in shares of Lennar by 32.9% in the second quarter. Invesco Ltd. now owns 1,895,497 shares of the construction company’s stock worth $91,855,000 after acquiring an additional 469,056 shares in the last quarter. Smead Capital Management Inc. grew its stake in shares of Lennar by 0.9% during the first quarter. Smead Capital Management Inc. now owns 1,544,021 shares of the construction company’s stock worth $75,796,000 after purchasing an additional 14,140 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of Lennar by 0.4% during the second quarter. Sterling Capital Management LLC now owns 1,144,500 shares of the construction company’s stock worth $55,462,000 after purchasing an additional 4,691 shares in the last quarter. Institutional investors and hedge funds own 85.65% of the company’s stock.

In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $49.04, for a total value of $980,800.00. Following the completion of the transaction, the president now owns 346,946 shares in the company, valued at $17,014,231.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.43% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. Lennar’s dividend payout ratio (DPR) is 2.52%.

About Lennar

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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

Featured Article: What is Blockchain?

Earnings History and Estimates for Lennar (NYSE:LEN)

Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.