Lennar (NYSE:LEN) Releases Q3 2024 Earnings Guidance

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

Lennar Trading Up 1.5 %

Shares of NYSE:LEN opened at $151.55 on Friday. Lennar has a 12-month low of $102.90 and a 12-month high of $172.59. The business’s fifty day simple moving average is $156.53 and its 200-day simple moving average is $155.08. The company has a market capitalization of $42.18 billion, a PE ratio of 10.30, a P/E/G ratio of 1.40 and a beta of 1.56. The company has a current ratio of 4.93, a quick ratio of 1.27 and a debt-to-equity ratio of 0.08.

Lennar Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LEN. JPMorgan Chase & Co. dropped their target price on Lennar from $157.00 to $154.00 and set a neutral rating on the stock in a research note on Thursday. Wells Fargo & Company boosted their target price on Lennar from $165.00 to $175.00 and gave the stock an overweight rating in a research note on Friday, March 15th. Keefe, Bruyette & Woods restated an outperform rating and set a $183.00 target price on shares of Lennar in a research note on Tuesday, June 18th. JMP Securities restated a market outperform rating and set a $170.00 target price on shares of Lennar in a research note on Thursday. Finally, StockNews.com downgraded Lennar from a buy rating to a hold rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $166.47.

Insider Activity

In related news, Director Amy Banse acquired 1,575 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was acquired at an average price of $157.00 per share, with a total value of $247,275.00. Following the acquisition, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Jeffrey Joseph Mccall sold 10,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $162.70, for a total value of $1,627,000.00. Following the completion of the transaction, the executive vice president now owns 128,629 shares of the company’s stock, valued at approximately $20,927,938.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Banse purchased 1,575 shares of Lennar stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average cost of $157.00 per share, with a total value of $247,275.00. Following the acquisition, the director now directly owns 11,859 shares in the company, valued at approximately $1,861,863. The disclosure for this purchase can be found here. Insiders sold a total of 29,176 shares of company stock valued at $4,841,039 in the last quarter. 9.36% of the stock is currently owned by company 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.