Lennar Corporation (NYSE:LEN) Plans $0.50 Quarterly Dividend

by · The Markets Daily

Lennar Corporation (NYSE:LEN – Get Free Report) announced a quarterly dividend on Wednesday, January 21st. Shareholders of record on Wednesday, February 4th will be given a dividend of 0.50 per share by the construction company on Thursday, February 19th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, February 4th.

Lennar has raised its dividend payment by an average of 0.8%per year over the last three years and has raised its dividend every year for the last 1 years. Lennar has a payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lennar to earn $15.55 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 12.9%.

Lennar Price Performance

Shares of NYSE:LEN opened at $117.96 on Thursday. Lennar has a twelve month low of $98.42 and a twelve month high of $144.24. The business has a 50 day moving average price of $116.56 and a 200 day moving average price of $121.77. The company has a market cap of $30.08 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.49 and a beta of 1.42. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN – Get Free Report) last released its earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same quarter in the previous year, the company earned $4.03 earnings per share. Lennar’s revenue for the quarter was down 5.8% compared to the same quarter last year. Research analysts predict that Lennar will post 12.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $125.00 price objective on shares of Lennar in a research note on Tuesday, January 13th. Keefe, Bruyette & Woods reduced their price target on shares of Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a research report on Thursday, December 18th. Citigroup lowered their target price on Lennar from $133.00 to $113.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Wall Street Zen lowered shares of Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. Finally, Evercore ISI cut Lennar from an “in-line” rating to an “underperform” rating and reduced their target price for the stock from $114.00 to $92.00 in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have assigned a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, Lennar currently has an average rating of “Reduce” and a consensus price target of $106.38.

Read Our Latest Analysis on Lennar

About Lennar

(Get Free Report)

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

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