Zacks Research Comments on Lennar Co.’s FY2024 Earnings (NYSE:LEN)

Lennar Co. (NYSE:LEN) – Equities research analysts at Zacks Research lowered their FY2024 earnings per share (EPS) estimates for shares of Lennar in a research note issued to investors on Wednesday, October 9th. Zacks Research analyst A. Gupta now anticipates that the construction company will post earnings per share of $14.09 for the year, down from their prior 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.

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

Several other analysts also recently issued reports on LEN. Bank Of America (Bofa) upped their price objective on Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, September 20th. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and lowered their target price for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Wedbush reiterated a “neutral” rating and set a $144.00 price target on shares of Lennar in a research report on Friday, September 20th. Royal Bank of Canada raised their target price on Lennar from $145.00 to $160.00 and gave the stock an “underperform” rating in a research report on Monday, September 23rd. Finally, Barclays raised their target price on Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $181.11.

Lennar Stock Down 0.0 %

Lennar stock opened at $178.19 on Monday. The stock’s 50 day moving average price is $179.93 and its 200 day moving average price is $166.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. The company has a market cap of $48.93 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.61. Lennar has a 1-year low of $102.90 and a 1-year high of $193.80.

Institutional Trading of Lennar

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

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.12%. The ex-dividend date is Wednesday, October 9th. Lennar’s dividend payout ratio (DPR) is 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.