Lennar Corporation (LEN) to Issue Quarterly Dividend of $0.50 on July 24th

Lennar Corporation (NYSE:LEN) announced a quarterly dividend on Thursday, June 25th. Stockholders of record on Friday, July 10th will be given a dividend of 0.50 per share by the construction company on Friday, July 24th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, July 10th.

Lennar has raised its dividend by an average of 0.8%annually over the last three years and has increased 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 $6.95 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 28.8%.

Lennar Stock Performance

NYSE:LEN opened at $86.73 on Wednesday. Lennar has a 12 month low of $81.18 and a 12 month high of $144.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91. The firm has a market capitalization of $20.89 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 2.91 and a beta of 1.38. The business’s fifty day moving average price is $89.10 and its 200 day moving average price is $99.03.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The company had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.Lennar’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.81 EPS. On average, sell-side analysts anticipate that Lennar will post 5.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on LEN. Evercore upped their price target on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a report on Monday, June 15th. Bank of America cut their price objective on shares of Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a report on Friday, June 12th. Argus reduced their price objective on shares of Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Barclays lowered their target price on shares of Lennar from $80.00 to $79.00 and set an “underweight” rating for the company in a report on Monday, June 15th. Finally, Wells Fargo & Company cut their price target on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, June 15th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $95.00.

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.