Lennar (NYSE:LEN) Releases Q3 2022 Earnings Guidance

Lennar (NYSE:LENGet Rating) issued an update on its third quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $4.55-$5.45 for the period, compared to the consensus estimate of $4.78. The company issued revenue guidance of -.

Shares of NYSE:LEN traded up $2.24 during midday trading on Thursday, reaching $69.90. The company had a trading volume of 110,057 shares, compared to its average volume of 2,554,586. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 8.06. Lennar has a 1-year low of $62.54 and a 1-year high of $117.54. The firm has a market cap of $20.65 billion, a price-to-earnings ratio of 4.63, a price-to-earnings-growth ratio of 3.96 and a beta of 1.46. The company has a fifty day simple moving average of $75.83 and a two-hundred day simple moving average of $88.94.

Lennar (NYSE:LENGet Rating) last announced its quarterly earnings data on Tuesday, June 21st. The construction company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.99 by $0.50. Lennar had a return on equity of 21.45% and a net margin of 14.77%. During the same period in the prior year, the company posted $2.95 earnings per share. Analysts expect that Lennar will post 16.25 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 10th. Investors of record on Tuesday, April 26th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 2.15%. The ex-dividend date was Monday, April 25th. Lennar’s dividend payout ratio is currently 10.27%.

LEN has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price objective on Lennar from $120.00 to $96.00 and set a buy rating for the company in a research note on Tuesday, April 12th. Barclays cut their price target on Lennar from $93.00 to $85.00 and set an equal weight rating for the company in a research note on Wednesday. UBS Group cut their price target on Lennar from $108.00 to $106.00 and set a buy rating for the company in a research note on Wednesday. Royal Bank of Canada cut their price target on Lennar from $109.00 to $100.00 and set a sector perform rating for the company in a research note on Friday, March 18th. Finally, BTIG Research raised their price target on Lennar from $92.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $94.00.

Several hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in Lennar in the 1st quarter valued at approximately $104,000. Moors & Cabot Inc. acquired a new stake in Lennar in the 1st quarter valued at approximately $200,000. Industrial Alliance Investment Management Inc. grew its holdings in Lennar by 51.6% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 3,457 shares of the construction company’s stock valued at $281,000 after buying an additional 1,177 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Lennar in the 1st quarter valued at approximately $318,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of Lennar by 42.3% during the 1st quarter. Golden State Wealth Management LLC now owns 3,205 shares of the construction company’s stock worth $324,000 after purchasing an additional 953 shares in the last quarter. 82.00% of the stock is currently owned by institutional investors and hedge funds.

About Lennar (Get Rating)

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.

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Earnings History and Estimates for Lennar (NYSE:LEN)

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