Lennar Corporation (NYSE:LEN – Get Free Report) declared a quarterly dividend on Thursday, June 25th. Stockholders of record on Friday, July 10th will be paid 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 2.1%. The ex-dividend date is Friday, July 10th.
Lennar has raised its dividend payment by an average of 0.8%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Lennar has a payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lennar to earn $7.11 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 28.1%.
Lennar Trading Up 0.9%
Lennar stock opened at $93.78 on Friday. The company’s fifty day moving average price is $89.68 and its two-hundred day moving average price is $100.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91. Lennar has a one year low of $81.18 and a one year high of $144.24. The company has a market capitalization of $23.16 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 3.05 and a beta of 1.39.
Wall Street Analyst Weigh In
LEN has been the subject of a number of research analyst reports. Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 16th. Citigroup lowered their target price on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. JPMorgan Chase & Co. dropped their price target on Lennar from $80.00 to $77.00 and set an “underweight” rating for the company in a report on Tuesday, June 16th. BTIG Research set a $67.00 price objective on shares of Lennar in a research report on Monday, June 15th. Finally, Truist Financial cut their price objective on shares of Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and ten have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $95.00.
View Our Latest Stock Analysis on LEN
About Lennar
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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