Lennar Co. (LEN) To Go Ex-Dividend on October 9th

Lennar Co. (NYSE:LEN) announced a quarterly dividend on Wednesday, September 25th, NASDAQ reports. Investors of record on Wednesday, October 9th will be paid a dividend of 0.50 per share by the construction company on Thursday, October 24th. This represents a $2.00 annualized dividend and a yield of 1.09%. The ex-dividend date is Wednesday, October 9th.

Lennar has raised its dividend payment by an average of 33.9% per year over the last three years. Lennar has a dividend payout ratio of 12.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Lennar to earn $15.95 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 12.5%.

Lennar Stock Up 0.7 %

LEN stock opened at $183.13 on Friday. Lennar has a fifty-two week low of $102.90 and a fifty-two week high of $193.80. The company has a market cap of $50.29 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.71 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The business’s 50-day moving average is $177.93 and its two-hundred day moving average is $164.55.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. The company had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.91 earnings per share. As a group, analysts forecast that Lennar will post 14.13 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LEN. Wells Fargo & Company boosted their price objective on Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. The Goldman Sachs Group lowered shares of Lennar from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. Barclays raised their price objective on shares of Lennar from $177.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday. Evercore ISI dropped their target price on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a report on Monday. Finally, Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $181.94.

Lennar Company Profile

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.