Lennar (NYSE:LEN) Updates Q3 Earnings Guidance

Lennar (NYSE:LEN) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $3.50-$3.65 for the period, compared to the consensus earnings per share estimate of $3.96.

Wall Street Analyst Weigh In

A number of research firms recently commented on LEN. UBS Group lifted their price objective on Lennar from $190.00 to $198.00 and gave the stock a buy rating in a research report on Friday, March 15th. Wedbush restated an underperform rating and issued a $144.00 price target on shares of Lennar in a report on Tuesday. Royal Bank of Canada lowered their price target on Lennar from $137.00 to $136.00 and set an underweight rating for the company in a report on Thursday, March 14th. JMP Securities reaffirmed a market outperform rating and issued a $170.00 price objective on shares of Lennar in a research note on Friday, March 15th. Finally, Oppenheimer reaffirmed a market perform rating on shares of Lennar in a research note on Friday, March 15th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $166.80.

Lennar Stock Performance

LEN traded down $7.33 during trading on Tuesday, reaching $149.18. 3,660,383 shares of the company were exchanged, compared to its average volume of 2,048,137. The stock has a market cap of $41.52 billion, a P/E ratio of 10.42, a PEG ratio of 1.45 and a beta of 1.57. The firm has a 50 day moving average of $157.40 and a 200 day moving average of $154.74. The company has a current ratio of 5.47, a quick ratio of 1.27 and a debt-to-equity ratio of 0.11. Lennar has a 52 week low of $102.90 and a 52 week high of $172.59.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, April 23rd. This represents a $2.00 annualized dividend and a dividend yield of 1.34%. Lennar’s dividend payout ratio is 14.02%.

Insider Buying and Selling at Lennar

In other Lennar news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.11, for a total value of $1,701,100.00. Following the completion of the sale, the insider now directly owns 118,629 shares of the company’s stock, valued at approximately $20,179,979.19. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Lennar news, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total value of $1,701,100.00. Following the transaction, the insider now directly owns 118,629 shares in the company, valued at approximately $20,179,979.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Banse bought 1,575 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was acquired at an average cost of $157.00 per share, with a total value of $247,275.00. Following the completion of the purchase, the director now owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The disclosure for this purchase can be found here. Insiders have sold a total of 29,176 shares of company stock worth $4,841,039 over the last three months. Corporate insiders own 9.36% of the company’s stock.

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.