Lennar (NYSE:LEN – Get Rating) issued an update on its fourth quarter 2022 earnings guidance on Saturday morning. The company provided earnings per share guidance of $4.65-$5.30 for the period, compared to the consensus earnings per share estimate of $5.40. The company issued revenue guidance of -.
Lennar Stock Performance
Shares of LEN opened at $74.55 on Friday. The business has a fifty day moving average of $80.72 and a 200 day moving average of $78.66. Lennar has a one year low of $62.54 and a one year high of $117.54. The company has a debt-to-equity ratio of 0.18, a current ratio of 7.73 and a quick ratio of 0.62. The firm has a market capitalization of $21.72 billion, a P/E ratio of 4.93, a PEG ratio of 4.25 and a beta of 1.52.
Lennar Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Thursday, October 13th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, October 12th. Lennar’s dividend payout ratio is presently 9.92%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on LEN shares. Wedbush downgraded Lennar from an outperform rating to a neutral rating in a research report on Friday, August 12th. Wells Fargo & Company lowered their price objective on Lennar from $85.00 to $74.00 and set an equal weight rating on the stock in a research report on Friday, June 17th. UBS Group lowered their price objective on Lennar from $108.00 to $106.00 and set a buy rating on the stock in a research report on Wednesday, June 22nd. Bank of America downgraded Lennar from a neutral rating to an underperform rating and set a $82.00 price objective on the stock. in a research report on Thursday, August 25th. Finally, Raymond James boosted their price objective on Lennar from $75.00 to $90.00 and gave the company an outperform rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Lennar currently has a consensus rating of Hold and a consensus price target of $93.92.
Insider Activity
In other news, VP David M. Collins sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $82.00, for a total transaction of $1,230,000.00. Following the transaction, the vice president now owns 41,382 shares of the company’s stock, valued at $3,393,324. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.08% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Prudential Financial Inc. raised its stake in Lennar by 65.5% in the 1st quarter. Prudential Financial Inc. now owns 790,021 shares of the construction company’s stock worth $64,127,000 after acquiring an additional 312,595 shares during the last quarter. National Pension Service lifted its stake in Lennar by 2.9% in the 1st quarter. National Pension Service now owns 457,801 shares of the construction company’s stock worth $37,160,000 after purchasing an additional 13,101 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Lennar by 39.0% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 395,764 shares of the construction company’s stock worth $32,124,000 after purchasing an additional 111,104 shares in the last quarter. Eaton Vance Management raised its position in shares of Lennar by 116.0% during the 1st quarter. Eaton Vance Management now owns 265,825 shares of the construction company’s stock valued at $21,577,000 after buying an additional 142,753 shares during the period. Finally, Wexford Capital LP lifted its position in Lennar by 18.6% in the first quarter. Wexford Capital LP now owns 244,966 shares of the construction company’s stock valued at $19,884,000 after acquiring an additional 38,447 shares during the last quarter. Institutional investors own 81.18% of the company’s stock.
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Lennar, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Lennar wasn’t on the list.
While Lennar currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Techyrack Website stock market day trading and youtube monetization and adsense Approval
Adsense Arbitrage website traffic Get Adsense Approval Google Adsense Earnings Traffic Arbitrage YouTube Monetization YouTube Monetization, Watchtime and Subscribers Ready Monetized Autoblog
from NYSE Updates – My Blog https://ift.tt/DMQzXhj
via IFTTT