Lennar Corporation (NYSE:LEN) Earns Hold Rating from Mizuho

NYSE:LEN has an EPS value of 3.47 with an EPS growth this year at 13.70%. Four analysts have provided estimates for Lennar Corporation's earnings, with estimates ranging from $3.61 billion to $3.64 billion. Argus reissued a "buy" rating and issued a $60.00 price objective (up from $57.00) on shares of Lennar Corporation in a research note on Tuesday, July 25th. The firm had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.25 billion. The construction company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.01 by $0.05.

Bank of America Corporation raised the price target of the stock on October 4 boosting the projection from $63.00 to $65.00 with a rating of "Buy". The firm owned 11,332 shares of the construction company's stock after selling 2,420 shares during the period. During the same quarter in the previous year, the company posted $1.01 earnings per share. Lennar Corporation had a return on equity of 12.37% and a net margin of 6.65%.

The Company is filing (i) as Exhibit 99.1, the historical audited consolidated financial statements of CalAtlantic as of December31, 2016 and 2015 and for its fiscal years ended December31, 2016, 2015 and 2014, (ii) as Exhibit 99.2, the unaudited historical condensed consolidated financial statements of CalAtlantic as of September30, 2017 and for the nine month periods ended September30, 2017 and 2016, (iii) as Exhibit 99.3 the unaudited pro forma condensed combined balance sheet of the Company as of August 31, 2017 which gives effect to the Merger as though it occurred on December 1, 2015 and the unaudited pro forma condensed combined statements of operations of the Company for the nine months ended August 31, 2017 and for the year ended November 30, 2016 which, in each case give effect to the Merger as though it occurred on December 1, 2015 and (iv) as Exhibit 23.1, the consent of Ernst& Young LLP, independent registered public accounting firm of CalAtlantic.

Several institutional investors have recently added to or reduced their stakes in LEN. Fox Run Management L.L.C. acquired a new stake in shares of Lennar Corporation in the second quarter worth $821,000. Capstone Asset Management Co. boosted its holdings in shares of Lennar Corporation by 12.9% in the 2nd quarter.

In other news, CFO Bruce E. Gross sold 5,000 shares of the business's stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $56.48, for a total transaction of $282,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 14.93%, and has a solid year to date (YTD) performance of 39.13% which means that the stock is constantly adding to its value from the previous fiscal year end price. The Amica Mutual Insurance Company holds 95,185 shares with $8.93M value, down from 101,211 last quarter. DnB Asset Management AS now owns 22,400 shares of the construction company's stock valued at $1,194,000 after buying an additional 600 shares during the last quarter. The value of the position overall is up by 1.8%. Gagnon invested 0.08% in Lennar Corporation (NYSE:LEN). The portion of a company's profit allocated to each outstanding share of common stock was $2.21 a share in the trailing twelve months. Lennar Corp's P/E ratio is 16.75 and market cap is 13.60B.

Lennar Corporation now measures the Current ratio at *tba and displays the quick ratio at *tba.

WARNING: This news story was first posted by StockNewsTimes and is owned by of StockNewsTimes.

Over the past 50 days, Lennar Corporation stock was -1.77% off of the high and 19.71% removed from the low. Stockholders of record on Thursday, October 19th were paid a $0.04 dividend. If you are viewing this story on another domain, it was illegally stolen and republished in violation of U.S. and global copyright and trademark legislation. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.27%. Lennar Corporation's payout ratio is presently 4.61%. The Company is a homebuilder that operates in various states. Lennar's Rialto segment is a vertically integrated asset management platform focused on investing throughout the commercial real estate capital structure.

Notícias recomendadas

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.