Lennar Co. (NYSE:LEN) Forecasted to Post FY2024 Earnings of $14.09 Per Share

Lennar Co. (NYSE:LEN - Free Report) - Analysts at Zacks Research lowered their FY2024 earnings estimates for shares of Lennar in a research report issued to clients and investors on Wednesday, October 9th. Zacks Research analyst A. Gupta now anticipates that the construction company will earn $14.09 per share for the year, down from their previous forecast of $14.39. The consensus estimate for Lennar's current full-year earnings is $14.28 per share. Zacks Research also issued estimates for Lennar's Q1 2025 earnings at $2.84 EPS, Q2 2025 earnings at $3.71 EPS, Q3 2025 earnings at $4.29 EPS, Q4 2025 earnings at $4.80 EPS, Q1 2026 earnings at $2.87 EPS, Q2 2026 earnings at $3.75 EPS and Q3 2026 earnings at $4.57 EPS.

Other research analysts also recently issued reports about the stock. Bank Of America (Bofa) raised their price objective 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. Wedbush restated a "neutral" rating and issued a $144.00 target price on shares of Lennar in a research note on Friday, September 20th. Raymond James cut shares of Lennar from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 2nd. Argus raised their target price on shares of Lennar from $175.00 to $180.00 and gave the stock a "buy" rating in a research note on Thursday, June 27th. Finally, Royal Bank of Canada raised their target price on shares of Lennar from $145.00 to $160.00 and gave the stock an "underperform" rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Lennar presently has an average rating of "Hold" and a consensus price target of $181.11.

Lennar Stock Performance

Lennar stock traded up $3.41 during midday trading on Monday, hitting $181.60. 1,259,798 shares of the company's stock were exchanged, compared to its average volume of 2,062,974. Lennar has a 12-month low of $102.90 and a 12-month high of $193.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The stock has a market cap of $49.87 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. The firm's 50 day simple moving average is $179.93 and its 200 day simple moving average is $166.18.

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

Hedge Funds Weigh In On Lennar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LEN. Rise Advisors LLC lifted its position in shares of Lennar by 484.0% during the first quarter. Rise Advisors LLC now owns 146 shares of the construction company's stock worth $25,000 after purchasing an additional 121 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Lennar during the 1st quarter valued at $30,000. New Covenant Trust Company N.A. purchased a new position in shares of Lennar in the first quarter worth approximately $32,000. Redmont Wealth Advisors LLC acquired a new position in Lennar during the first quarter valued at $35,000. Finally, Fortitude Family Office LLC lifted its position in Lennar by 223.6% in the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company's stock worth $35,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders 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 of this dividend is Wednesday, October 9th. Lennar's payout ratio is currently 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.