Published On: Fri, Sep 23rd, 2016

FY2016 EPS Estimates for Lennar Corp. (LEN) Raised by KeyCorp

Lennar Corp. (NYSE:LEN) – Investment analysts at KeyCorp upped their FY2016 EPS estimates for Lennar Corp. in a research report issued to clients and investors on Thursday. KeyCorp analyst K. Zener now forecasts that the brokerage will earn $3.91 per share for the year, up from their previous forecast of $3.86. KeyCorp also issued estimates for Lennar Corp.’s Q4 2016 earnings at $1.31 EPS, Q1 2017 earnings at $0.54 EPS, Q2 2017 earnings at $0.98 EPS, Q3 2017 earnings at $1.18 EPS and Q4 2017 earnings at $1.38 EPS.
Lennar Corp. (NYSE:LEN) last posted its earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. Lennar Corp. had a return on equity of 14.34% and a net margin of 8.37%. The business earned $2.83 billion during the quarter. During the same period in the previous year, the company posted $0.96 earnings per share. Lennar Corp.’s revenue for the quarter was up 13.7% compared to the same quarter last year.
A number of other brokerages have also commented on LEN. Zacks Investment Research raised Lennar Corp. from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Wednesday, August 24th. Citigroup Inc. cut their price target on Lennar Corp. from $50.00 to $48.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wedbush initiated coverage on Lennar Corp. in a research note on Monday. They set a “neutral” rating and a $46.00 price target on the stock. MKM Partners set a $51.00 price target on Lennar Corp. and gave the company a “hold” rating in a research note on Thursday. Finally, Royal Bank Of Canada cut their price target on Lennar Corp. from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $54.03.

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Lennar Corp. (NYSE:LEN) traded down 0.310% during mid-day trading on Friday, reaching $43.465. The company had a trading volume of 1,065,515 shares. The firm has a market capitalization of $9.53 billion, a P/E ratio of 11.435 and a beta of 1.37. Lennar Corp. has a one year low of $37.14 and a one year high of $52.50. The firm’s 50-day moving average is $46.22 and its 200-day moving average is $46.44.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Wednesday, October 5th will be issued a dividend of $0.04 per share. The ex-dividend date is Monday, October 3rd. This represents a $0.16 annualized dividend and a yield of 0.37%. Lennar Corp.’s dividend payout ratio (DPR) is currently 4.21%.
Large investors have recently made changes to their positions in the company. Chevy Chase Trust Holdings Inc. increased its stake in shares of Lennar Corp. by 5.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 152,404 shares of the company’s stock valued at $7,371,000 after buying an additional 7,382 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Lennar Corp. by 18.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,073 shares of the company’s stock valued at $1,986,000 after buying an additional 6,298 shares during the period. Exxonmobil Investment Management Inc. TX increased its stake in shares of Lennar Corp. by 9.3% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 43,853 shares of the company’s stock valued at $2,121,000 after buying an additional 3,722 shares during the period. Aperio Group LLC increased its stake in shares of Lennar Corp. by 7.1% in the first quarter. Aperio Group LLC now owns 111,846 shares of the company’s stock valued at $5,409,000 after buying an additional 7,462 shares during the period. Finally, Ngam Advisors L.P. increased its stake in shares of Lennar Corp. by 52.2% in the first quarter. Ngam Advisors L.P. now owns 123,554 shares of the company’s stock valued at $5,975,000 after buying an additional 42,377 shares during the period. Institutional investors and hedge funds own 86.39% of the company’s stock.
Lennar Corp. Company Profile
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.

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