Lennar Co. (NYSE:LEN) announced a quarterly dividend on Thursday, June 25th, Zacks reports. Investors of record on Friday, July 10th will be given a dividend of 0.125 per share by the construction company on Friday, July 24th. This represents a $0.50 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Thursday, July 9th.
Lennar has increased its dividend payment by an average of 540.0% per year over the last three years. Lennar has a payout ratio of 10.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lennar to earn $6.33 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 7.9%.
LEN opened at $61.94 on Tuesday. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 3.14 and a beta of 1.60. Lennar has a 1 year low of $25.42 and a 1 year high of $71.38. The company has a current ratio of 14.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $60.35 and a 200 day moving average price of $55.91.
Lennar (NYSE:LEN) last released its quarterly earnings data on Monday, June 15th. The construction company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.36. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.20 billion. Lennar had a return on equity of 13.08% and a net margin of 9.30%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 earnings per share. As a group, sell-side analysts forecast that Lennar will post 6.2 earnings per share for the current fiscal year.
A number of analysts recently issued reports on LEN shares. Citigroup lifted their price objective on Lennar from $53.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, June 15th. JPMorgan Chase & Co. boosted their price target on Lennar from $64.00 to $68.50 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Susquehanna Bancshares cut Lennar from a “positive” rating to a “neutral” rating and boosted their price target for the stock from $43.00 to $48.00 in a research report on Monday, April 13th. Bank of America boosted their price target on Lennar from $67.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Finally, Credit Suisse Group boosted their price target on Lennar from $62.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Lennar currently has an average rating of “Hold” and an average price target of $64.58.
In other news, President Jonathan M. Jaffe sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $61.41, for a total value of $2,456,400.00. Following the sale, the president now directly owns 335,521 shares in the company, valued at approximately $20,604,344.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Diane J. Bessette sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $61.01, for a total value of $305,050.00. Following the completion of the transaction, the chief financial officer now directly owns 277,775 shares in the company, valued at $16,947,052.75. The disclosure for this sale can be found here. Corporate insiders own 8.60% of the company’s stock.
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.
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