Zacks: Brokerages Expect Lennar Co. (NYSE:LEN) to Announce $1.32 EPS

Equities analysts predict that Lennar Co. (NYSE:LEN) will post earnings of $1.32 per share for the current quarter, Zacks reports. Five analysts have issued estimates for Lennar’s earnings, with the lowest EPS estimate coming in at $1.28 and the highest estimate coming in at $1.38. Lennar reported earnings of $1.40 per share during the same quarter last year, which indicates a negative year over year growth rate of 5.7%. The firm is scheduled to issue its next earnings report on Wednesday, October 2nd.

According to Zacks, analysts expect that Lennar will report full year earnings of $5.32 per share for the current year, with EPS estimates ranging from $5.19 to $5.47. For the next year, analysts anticipate that the company will post earnings of $5.81 per share, with EPS estimates ranging from $5.32 to $6.22. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Lennar.

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

Several brokerages have recently weighed in on LEN. BTIG Research set a $65.00 price objective on shares of Lennar and gave the stock a “buy” rating in a report on Wednesday, June 26th. Seaport Global Securities began coverage on shares of Lennar in a report on Friday, August 23rd. They set a “buy” rating and a $71.00 price objective on the stock. Raymond James lowered shares of Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a report on Tuesday, June 18th. They noted that the move was a valuation call. Bank of America cut their price target on shares of Lennar from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, Wedbush set a $62.00 price target on shares of Lennar and gave the company a “buy” rating in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $57.10.

In related news, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is available at this link. Company insiders own 8.43% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of LEN. CIBC Asset Management Inc grew its position in Lennar by 0.8% in the second quarter. CIBC Asset Management Inc now owns 27,596 shares of the construction company’s stock valued at $1,337,000 after acquiring an additional 222 shares in the last quarter. Bank Hapoalim BM grew its position in Lennar by 2.3% in the first quarter. Bank Hapoalim BM now owns 10,950 shares of the construction company’s stock valued at $538,000 after acquiring an additional 250 shares in the last quarter. Securian Asset Management Inc grew its position in Lennar by 0.9% in the second quarter. Securian Asset Management Inc now owns 29,330 shares of the construction company’s stock valued at $1,421,000 after acquiring an additional 264 shares in the last quarter. Cerebellum GP LLC grew its position in Lennar by 4.4% in the first quarter. Cerebellum GP LLC now owns 6,572 shares of the construction company’s stock valued at $323,000 after acquiring an additional 278 shares in the last quarter. Finally, Hartford Investment Management Co. grew its position in Lennar by 1.1% in the second quarter. Hartford Investment Management Co. now owns 31,177 shares of the construction company’s stock valued at $1,511,000 after acquiring an additional 328 shares in the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.

Shares of LEN stock traded down $0.96 during trading hours on Tuesday, hitting $53.62. 4,963,403 shares of the company were exchanged, compared to its average volume of 2,575,078. The firm has a market cap of $17.58 billion, a PE ratio of 8.44, a PEG ratio of 1.20 and a beta of 1.09. Lennar has a 1 year low of $37.29 and a 1 year high of $55.00. The company has a quick ratio of 0.79, a current ratio of 13.93 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $50.14 and a 200 day moving average of $50.14.

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.

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