Lennar (NYSE:LEN) Issues Q3 2024 Earnings Guidance

Lennar (NYSE:LEN) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 3.500-3.650 for the period, compared to the consensus earnings per share estimate of 3.920. The company issued revenue guidance of -.

Lennar Stock Up 1.5 %

Shares of Lennar stock opened at $151.55 on Friday. Lennar has a 52-week low of $102.90 and a 52-week high of $172.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.27 and a current ratio of 4.93. The business’s 50 day simple moving average is $156.53 and its 200 day simple moving average is $154.92. The firm has a market cap of $42.18 billion, a PE ratio of 10.30, a P/E/G ratio of 1.40 and a beta of 1.56.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Friday, July 5th. Lennar’s dividend payout ratio is presently 13.60%.

Analysts Set New Price Targets

LEN has been the topic of several recent research reports. Citigroup lowered their price target on shares of Lennar from $198.00 to $174.00 and set a buy rating on the stock in a research note on Friday. Royal Bank of Canada reiterated an underperform rating and set a $145.00 target price on shares of Lennar in a report on Thursday. Wedbush reissued an underperform rating and set a $144.00 price target on shares of Lennar in a research report on Tuesday. StockNews.com lowered Lennar from a buy rating to a hold rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on Lennar from $157.00 to $154.00 and set a neutral rating for the company in a report on Thursday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Lennar currently has an average rating of Hold and a consensus price target of $166.47.

Insider Buying and Selling at Lennar

In other Lennar news, Director Amy Banse acquired 1,575 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were bought at an average cost of $157.00 per share, with a total value of $247,275.00. Following the purchase, the director now directly owns 11,859 shares of the company’s stock, valued at $1,861,863. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lennar news, Director Amy Banse purchased 1,575 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were acquired at an average price of $157.00 per share, with a total value of $247,275.00. Following the transaction, the director now owns 11,859 shares in the company, valued at $1,861,863. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Executive Vice Preident Jeffrey Joseph McCall sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.11, for a total value of $1,701,100.00. Following the sale, the insider now directly owns 118,629 shares of the company’s stock, valued at $20,179,979.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,176 shares of company stock valued at $4,841,039. 9.36% of the stock is currently owned by insiders.

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.