Lennar Co. (NYSE:LEN) Expected to Post Quarterly Sales of $5.50 Billion

Brokerages expect that Lennar Co. (NYSE:LEN) will report $5.50 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Lennar’s earnings, with the lowest sales estimate coming in at $5.39 billion and the highest estimate coming in at $5.63 billion. Lennar reported sales of $5.67 billion during the same quarter last year, which would indicate a negative year over year growth rate of 3%. The business is expected to announce its next earnings report on Wednesday, October 2nd.

According to Zacks, analysts expect that Lennar will report full-year sales of $21.61 billion for the current year, with estimates ranging from $21.49 billion to $21.84 billion. For the next financial year, analysts anticipate that the firm will report sales of $22.01 billion, with estimates ranging from $21.10 billion to $22.44 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Lennar.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, June 25th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.17. The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Lennar had a net margin of 8.86% and a return on equity of 12.03%. Lennar’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 earnings per share.



A number of equities research analysts recently issued reports on LEN shares. BTIG Research set a $65.00 price objective on shares of Lennar and gave the stock a “buy” rating in a report on Wednesday, June 26th. Barclays set a $54.00 price objective on shares of Lennar and gave the stock a “buy” rating in a report on Thursday, March 28th. KeyCorp cut shares of WABCO from a “sector weight” rating to a “sector weight” rating in a report on Thursday, March 28th. Bank of America started coverage on shares of Guangshen Railway Co. Ltd ADR Class H in a report on Wednesday, June 26th. They issued an “underperform” rating for the company. Finally, Wedbush upgraded shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $56.89.

In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $49.04, for a total transaction of $980,800.00. Following the completion of the sale, the president now directly owns 346,946 shares in the company, valued at $17,014,231.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.43% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Abrams Bison Investments LLC acquired a new position in shares of Lennar during the fourth quarter valued at about $115,281,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Lennar by 0.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,588,417 shares of the construction company’s stock valued at $101,336,000 after buying an additional 12,453 shares during the last quarter. Long Pond Capital LP raised its position in shares of Lennar by 21.1% during the first quarter. Long Pond Capital LP now owns 2,327,633 shares of the construction company’s stock valued at $114,264,000 after buying an additional 405,962 shares during the last quarter. Smead Capital Management Inc. raised its position in Lennar by 0.9% in the first quarter. Smead Capital Management Inc. now owns 1,544,021 shares of the construction company’s stock worth $75,796,000 after purchasing an additional 14,140 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Lennar by 0.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,123,228 shares of the construction company’s stock worth $55,139,000 after purchasing an additional 2,904 shares in the last quarter. 85.71% of the stock is owned by institutional investors and hedge funds.

NYSE:LEN traded up $0.16 during trading hours on Friday, reaching $47.80. The company’s stock had a trading volume of 2,844,742 shares, compared to its average volume of 3,737,832. The company has a market cap of $15.40 billion, a P/E ratio of 7.53, a price-to-earnings-growth ratio of 1.04 and a beta of 1.18. Lennar has a one year low of $37.29 and a one year high of $55.77. The business has a 50-day moving average of $50.59. The company has a current ratio of 13.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Wednesday, July 10th. Lennar’s dividend payout ratio (DPR) is 2.52%.

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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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