LENNAR CORPORATION (NYSE:LEN) Files An 8-K Other Events

Marco Green
November 15, 2017

Lennar Corporation most recently reported earnings per share (EPS) of $1.06 for the August 2017 versus $1.01 in the same quarter past year, representing 5% growth. That's a potential 4.48 increase relative to where Lennar Corporation (NYSE:LEN) has been trading recently.

Lennar Corporation (NYSE:LEN) opened at $58.22 on Friday. Sterling Capital Mgmt, a North Carolina-based fund reported 1.07M shares. The firm had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $3.25 billion. The monthly performance for Lennar Corporation is 6.56% that leads to 42.75% in its yearly performance. During the same quarter in the prior year, the firm posted $1.01 EPS. The count of Hold ratings in that period was 0.

According to Zacks brokerage recommendations, Lennar Corporation (NYSE:LEN)'s Buy count is 1 and Strong Buy is 9 while the number of analysts recommending Sell and Strong Sell are 0 and 7, respectively. The stock of Lennar Corporation (NYSE:LEN) earned "Neutral" rating by Citigroup on Wednesday, October 4. BTIG Research raised the price target of the stock on October 4 changing the forecast from $62.00 to $63.00 and stated a "Buy" rating. Finally, MKM Partners upgraded Lennar Corporation from a neutral rating to a buy rating and set a $64.00 target price for the company in a report on Wednesday, October 4th. Of the 21 analysts surveyed by Reuters that track LEN 9 of them rate its stock a hold. Lennar Corporation presently has a consensus rating of "Hold" and an average target price of $57.93.

With the amassed value of the company based on its existing stock price alongside the total amount of outstanding stocks, today's market cap for Lennar Corporation is valued at 13.78B. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Given the stock's recent action, it seemed like a good time to take a closer look at the company's recent data.

Several other institutional investors have also modified their holdings of LEN. Commonwealth Bank of Australia grew its position in shares of Lennar Corporation by 32.4% in the 2nd quarter. The Redwood Investments Llc holds 60,628 shares with $8.69M value, up from 55,025 last quarter.

The Company plans to use the proceeds from the offering, which are estimated to be approximately $1.2 billion, on a gross basis before underwriting fees and expenses, to fund a portion of the cash consideration payable by the Company in connection with the Merger (as defined below), to pay expenses related to the Merger and for general corporate purposes. DnB Asset Management AS now owns 22,400 shares of the construction company's stock worth $1,194,000 after buying an additional 600 shares during the period. It fall, as 36 investors sold Lennar Corporation shares while 139 reduced holdings. Amica Mutual Insurance Company sold 6,026 shares as Visa Inc Class A Shares (V)'s stock rose 5.74%. The stock of Lennar Corporation (NYSE:LEN) has "Market Perform" rating given on Thursday, September 29 by Wells Fargo.

This company has been competing with others in the Industrial Goods space and offers its own combination of interesting factors Lennar Corporation (LEN) now trades with a market capitalization of $13.78 Billion. Looking at the stock's movement on the chart, Lennar Corporation recorded a 52-week high of $59.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. The ex-dividend date was Wednesday, October 18th. This represents a $0.16 dividend on an annualized basis and a yield of 0.27%.

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