Lennar Corporation (LEN) to Issue Quarterly Dividend of $0.50 on May 6th

Lennar Corporation (NYSE:LEN) announced a quarterly dividend on Wednesday, April 8th. Shareholders of record on Wednesday, April 22nd will be paid a dividend of 0.50 per share by the construction company on Wednesday, May 6th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date is Wednesday, April 22nd.

Lennar has increased its dividend by an average of 0.8%per year over the last three years and has increased its dividend every year for the last 1 years. Lennar has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of LEN opened at $88.85 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. Lennar has a one year low of $83.03 and a one year high of $144.24. The company has a 50-day simple moving average of $103.32 and a two-hundred day simple moving average of $113.78. The firm has a market capitalization of $21.94 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.90 and a beta of 1.47.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.07). Lennar had a return on equity of 7.80% and a net margin of 5.39%.The company had revenue of $6.62 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the business earned $2.14 earnings per share. The business’s quarterly revenue was down 13.3% on a year-over-year basis. On average, analysts anticipate that Lennar will post 12.48 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on LEN shares. Weiss Ratings lowered shares of Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 16th. JPMorgan Chase & Co. lowered their price objective on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, December 18th. Truist Financial lowered their price objective on shares of Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Citigroup decreased their target price on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Finally, UBS Group decreased their target price on shares of Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $100.07.

Lennar Company Profile

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.