Q2 2024 EPS Estimates for Lennar Co. Increased by Wedbush (NYSE:LEN)

Lennar Co. (NYSE:LENFree Report) – Analysts at Wedbush raised their Q2 2024 earnings per share (EPS) estimates for Lennar in a research report issued to clients and investors on Monday, March 18th. Wedbush analyst J. Mccanless now forecasts that the construction company will post earnings per share of $3.19 for the quarter, up from their previous forecast of $3.12. Wedbush has a “Neutral” rating and a $144.00 price objective on the stock. The consensus estimate for Lennar’s current full-year earnings is $14.17 per share. Wedbush also issued estimates for Lennar’s Q3 2024 earnings at $3.57 EPS, Q4 2024 earnings at $5.05 EPS, FY2024 earnings at $14.38 EPS, Q1 2025 earnings at $2.60 EPS, Q2 2025 earnings at $3.36 EPS, Q3 2025 earnings at $4.43 EPS, Q4 2025 earnings at $5.30 EPS and FY2025 earnings at $15.65 EPS.

Lennar (NYSE:LENGet Free Report) last released its quarterly earnings results on Thursday, March 14th. The construction company reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.36. Lennar had a net margin of 11.59% and a return on equity of 15.90%. The firm had revenue of $7.31 billion for the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter in the previous year, the firm posted $2.12 EPS. The firm’s quarterly revenue was up 12.7% on a year-over-year basis.

Several other analysts have also weighed in on LEN. Evercore ISI boosted their target price on shares of Lennar from $224.00 to $238.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Oppenheimer restated a “market perform” rating on shares of Lennar in a research note on Friday, March 15th. The Goldman Sachs Group upped their price objective on Lennar from $138.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, December 18th. UBS Group upped their price target on shares of Lennar from $190.00 to $198.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Citigroup raised their price target on shares of Lennar from $170.00 to $179.00 and gave the company a “buy” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.69.

Check Out Our Latest Report on Lennar

Lennar Stock Up 2.5 %

Shares of Lennar stock opened at $163.62 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 5.47 and a debt-to-equity ratio of 0.11. The firm has a market cap of $45.95 billion, a P/E ratio of 11.47, a P/E/G ratio of 2.10 and a beta of 1.52. Lennar has a fifty-two week low of $100.95 and a fifty-two week high of $167.49. The business has a 50-day moving average price of $154.67 and a 200 day moving average price of $135.28.

Lennar Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th were issued a dividend of $0.50 per share. This is an increase from Lennar’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Tuesday, January 23rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.22%. Lennar’s payout ratio is currently 14.02%.

Insider Activity

In other Lennar news, CFO Diane J. Bessette sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $147.73, for a total value of $1,477,300.00. Following the transaction, the chief financial officer now owns 260,556 shares in the company, valued at approximately $38,491,937.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 9.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LEN. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Lennar in the 3rd quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new position in shares of Lennar during the third quarter worth approximately $28,000. BluePath Capital Management LLC bought a new stake in shares of Lennar in the third quarter valued at approximately $29,000. Dagco Inc. acquired a new position in Lennar during the 4th quarter valued at $31,000. Finally, Criterion Capital Advisors LLC acquired a new stake in Lennar in the 4th quarter worth $36,000. Institutional investors and hedge funds own 79.87% of the company’s stock.

About Lennar

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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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