Lennar Co. (NYSE:LEN) to Post Q4 2024 Earnings of $4.30 Per Share, Seaport Res Ptn Forecasts

Lennar Co. (NYSE:LEN) – Equities researchers at Seaport Res Ptn lowered their Q4 2024 earnings estimates for shares of Lennar in a report issued on Sunday, October 6th. Seaport Res Ptn analyst K. Zener now forecasts that the construction company will post earnings per share of $4.30 for the quarter, down from their previous forecast of $5.12. The consensus estimate for Lennar’s current full-year earnings is $14.13 per share.

LEN has been the topic of a number of other reports. Bank Of America (Bofa) boosted their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Keefe, Bruyette & Woods boosted their target price on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Barclays boosted their target price on shares of Lennar from $177.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. JMP Securities boosted their target price on shares of Lennar from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 25th. Finally, StockNews.com downgraded shares of Lennar from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $181.11.

Lennar Stock Down 0.4 %

LEN stock opened at $181.21 on Wednesday. Lennar has a 52 week low of $102.90 and a 52 week high of $193.80. The company has a market capitalization of $49.76 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. The firm’s 50-day moving average is $179.73 and its two-hundred day moving average is $165.82. The company has a current ratio of 4.90, a quick ratio of 0.98 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. During the same period in the previous year, the firm earned $3.91 EPS. Lennar’s revenue was up 7.9% on a year-over-year basis.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Wednesday, October 9th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Wednesday, October 9th. Lennar’s payout ratio is presently 13.60%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEN. Elo Mutual Pension Insurance Co grew its position in Lennar by 3.1% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 21,840 shares of the construction company’s stock valued at $3,255,000 after purchasing an additional 648 shares in the last quarter. State of Tennessee Treasury Department grew its position in Lennar by 59.3% in the fourth quarter. State of Tennessee Treasury Department now owns 197,112 shares of the construction company’s stock worth $29,378,000 after acquiring an additional 73,369 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Lennar in the fourth quarter worth approximately $16,394,000. Kingfisher Capital LLC bought a new stake in Lennar in the fourth quarter worth approximately $2,177,000. Finally, C M Bidwell & Associates Ltd. grew its position in Lennar by 40.3% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 2,786 shares of the construction company’s stock worth $415,000 after acquiring an additional 800 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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, 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.