Q4 2024 Earnings Forecast for Lennar Co. (NYSE:LEN) Issued By Seaport Res Ptn

Lennar Co. (NYSE:LEN) – Analysts at Seaport Res Ptn cut their Q4 2024 EPS estimates for Lennar in a research report issued on Sunday, October 6th. Seaport Res Ptn analyst K. Zener now anticipates that the construction company will post earnings of $4.30 per share for the quarter, down from their prior estimate of $5.12. The consensus estimate for Lennar’s current full-year earnings is $14.13 per share.

A number of other research firms also recently weighed in on LEN. Evercore ISI reduced their price target on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Citigroup raised their target price on shares of Lennar from $164.00 to $196.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. increased their price objective on shares of Lennar from $154.00 to $173.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Wedbush reaffirmed a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research report on Friday, September 20th. Finally, Argus increased their price target on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Lennar currently has a consensus rating of “Hold” and a consensus target price of $181.11.

Lennar Stock Performance

Shares of Lennar stock opened at $178.20 on Wednesday. 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 firm has a market cap of $48.93 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. Lennar has a one year low of $102.90 and a one year high of $193.80. The stock’s 50-day moving average is $179.82 and its 200-day moving average is $166.02.

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

Hedge Funds Weigh In On Lennar

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its stake in Lennar by 15.1% in the 2nd quarter. Pacer Advisors Inc. now owns 3,021,856 shares of the construction company’s stock worth $452,886,000 after purchasing an additional 396,951 shares in the last quarter. D1 Capital Partners L.P. raised its position in shares of Lennar by 428.9% in the second quarter. D1 Capital Partners L.P. now owns 2,420,000 shares of the construction company’s stock valued at $362,685,000 after buying an additional 1,962,447 shares in the last quarter. Marshall Wace LLP grew its position in Lennar by 20.9% during the second quarter. Marshall Wace LLP now owns 2,015,641 shares of the construction company’s stock worth $302,084,000 after buying an additional 348,553 shares in the last quarter. Nordea Investment Management AB increased its stake in Lennar by 3.6% during the 1st quarter. Nordea Investment Management AB now owns 1,760,729 shares of the construction company’s stock worth $303,585,000 after acquiring an additional 60,713 shares during the period. Finally, Eminence Capital LP raised its holdings in Lennar by 14.6% in the 2nd quarter. Eminence Capital LP now owns 655,368 shares of the construction company’s stock valued at $98,220,000 after acquiring an additional 83,316 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Wednesday, October 9th. 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.