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

Lennar Co. (NYSE:LEN) – Investment analysts at Seaport Res Ptn reduced their Q4 2024 earnings estimates for shares of Lennar in a research report issued to clients and investors on Sunday, October 6th. Seaport Res Ptn analyst K. Zener now forecasts that the construction company will post earnings of $4.30 per share 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.

Lennar (NYSE:LEN) last issued its quarterly earnings data 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 firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter in the prior year, the firm earned $3.91 EPS. The company’s revenue was up 7.9% on a year-over-year basis.

Other analysts also recently issued reports about the stock. JMP Securities raised 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. BTIG Research dropped their target price on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research note on Monday, September 23rd. Finally, Bank Of America (Bofa) raised their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $181.11.

Lennar Stock Performance

Lennar stock opened at $181.21 on Wednesday. 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 has a 1 year low of $102.90 and a 1 year high of $193.80. The company has a market cap of $49.76 billion, a PE ratio of 12.32, a PEG ratio of 1.71 and a beta of 1.61. The company’s 50-day moving average is $179.73 and its two-hundred day moving average is $165.82.

Institutional Investors Weigh In On Lennar

Several hedge funds have recently added to or reduced their stakes in LEN. Elo Mutual Pension Insurance Co lifted its holdings in Lennar by 3.1% during the 4th 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 during the last quarter. State of Tennessee Treasury Department lifted its holdings in Lennar by 59.3% during the 4th quarter. State of Tennessee Treasury Department now owns 197,112 shares of the construction company’s stock valued at $29,378,000 after purchasing an additional 73,369 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Lennar during the 4th quarter valued at $16,394,000. Kingfisher Capital LLC acquired a new stake in Lennar during the 4th quarter valued at $2,177,000. Finally, C M Bidwell & Associates Ltd. lifted its holdings in Lennar by 40.3% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 2,786 shares of the construction company’s stock valued at $415,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Announces Dividend

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

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.