Lennar Co. (NYSE:LEN) to Post Q3 2024 Earnings of $3.62 Per Share, Wedbush Forecasts

Lennar Co. (NYSE:LEN) – Equities research analysts at Wedbush boosted their Q3 2024 earnings estimates for Lennar in a research report issued on Tuesday, June 18th. Wedbush analyst J. Mccanless now anticipates that the construction company will post earnings per share of $3.62 for the quarter, up from their previous estimate of $3.57. Wedbush has a “Underperform” rating and a $144.00 price target on the stock. The consensus estimate for Lennar’s current full-year earnings is $14.46 per share. Wedbush also issued estimates for Lennar’s Q4 2024 earnings at $4.62 EPS, FY2024 earnings at $14.32 EPS, Q1 2025 earnings at $2.77 EPS, Q3 2025 earnings at $4.16 EPS, Q4 2025 earnings at $4.81 EPS and FY2025 earnings at $15.16 EPS.

Several other brokerages have also weighed in on LEN. UBS Group increased 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. StockNews.com lowered shares of Lennar from a “buy” rating to a “hold” rating in a report on Wednesday. BTIG Research lowered their target price on shares of Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company lifted their target price on shares of Lennar from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, March 15th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $168.07.

Lennar Stock Up 0.3 %

Shares of NYSE LEN opened at $149.19 on Friday. The company has a market capitalization of $41.53 billion, a P/E ratio of 10.14, a P/E/G ratio of 1.39 and a beta of 1.56. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 1.27. The company has a 50 day simple moving average of $156.70 and a 200-day simple moving average of $154.78. Lennar has a 1 year low of $102.90 and a 1 year high of $172.59.

Hedge Funds Weigh In On Lennar

Several large investors have recently bought and sold shares of LEN. Benjamin Edwards Inc. boosted its position in shares of Lennar by 7.2% in the 4th quarter. Benjamin Edwards Inc. now owns 1,027 shares of the construction company’s stock valued at $153,000 after purchasing an additional 69 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Lennar by 1.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 4,448 shares of the construction company’s stock worth $663,000 after acquiring an additional 70 shares during the last quarter. Nilsine Partners LLC increased its holdings in shares of Lennar by 1.7% in the 1st quarter. Nilsine Partners LLC now owns 4,554 shares of the construction company’s stock valued at $783,000 after acquiring an additional 75 shares during the period. Savant Capital LLC raised its position in Lennar by 0.9% in the 4th quarter. Savant Capital LLC now owns 8,361 shares of the construction company’s stock valued at $1,246,000 after purchasing an additional 78 shares during the last quarter. Finally, RFG Advisory LLC grew its position in Lennar by 2.1% during the 4th quarter. RFG Advisory LLC now owns 3,847 shares of the construction company’s stock worth $573,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Activity

In other Lennar news, Director Amy Banse bought 1,575 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were purchased at an average price of $157.00 per share, with a total value of $247,275.00. Following the completion of the acquisition, the director now directly owns 11,859 shares of the company’s stock, valued at approximately $1,861,863. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $162.70, for a total transaction of $1,627,000.00. Following the completion of the sale, the executive vice president now owns 128,629 shares in the company, valued at approximately $20,927,938.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Banse bought 1,575 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was bought at an average cost of $157.00 per share, for a total transaction of $247,275.00. Following the completion of the transaction, the director now directly owns 11,859 shares in the company, valued at $1,861,863. The disclosure for this purchase can be found here. In the last three months, insiders have sold 29,176 shares of company stock worth $4,841,039. 9.36% of the stock is currently owned by corporate insiders.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Tuesday, April 23rd. Lennar’s dividend payout ratio is presently 13.60%.

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.