Lennar Corporation (LEN) is Initiated by Argus to Buy

Lennar Corporation (LEN) was Initiated by Argus to “Buy”. Argus advised their investors in a research report released on Jul 5, 2016.

Many Wall Street Analysts have commented on Lennar Corporation. Lennar Corporation was Upgraded by Raymond James to ” Outperform” on Jun 27, 2016.

On the company’s financial health, Lennar Corporation reported $0.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jun 21, 2016. Analyst had a consensus of $0.87. The company had revenue of $2745.80 million for the quarter, compared to analysts expectations of $2574.43 million. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.

Lennar Corporation opened for trading at $46 and hit $47.109 on the upside on Friday, eventually ending the session at $46.42, with a gain of 0.69% or 0.32 points. The heightened volatility saw the trading volume jump to 21,93,053 shares. Company has a market cap of $9,967 M.

Investors should note that on Jun 23, 2016, Lennar Corporation announced a cash dividend of $0.0400. The company’s management has announced Jul 6, 2016 as the ex-dividend date and fixed the record date on Jul 8, 2016. The payable date has been fixed on Jul 22, 2016.

In a different news, on Apr 8, 2016, Sherrill W Hudson (director) sold 2,500 shares at $47.54 per share price. According to the SEC, on Apr 8, 2016, Theron I Gilliam (director) sold 2,091 shares at $47.84 per share price. On Apr 5, 2016, Jonathan M Jaffe (Vice President/COO) sold 20,000 shares at $47.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Lennar Corporation is a real estate company. The Company is a homebuilder a provider of real estate-related financial services a commercial real estate investment investment management and finance company. It operates under Homebuilding Operations Lennar Financial Services Rialto and Lennar Multifamily segments. It has grouped its homebuilding activities into five segments: Homebuilding East Homebuilding Central Homebuilding West Homebuilding Southeast Florida and Homebuilding Houston. Its homebuilding operations include the construction and sale of single-family attached and detached homes. Lennar Financial Services offers residential mortgage loan products to buyers of their homes and others. The Rialto segment is a commercial real estate investment investment management and finance company. The Lennar Multifamily segment focuses on developing a portfolio of multifamily rental properties in select United States markets. It operates under brand name Lennar.

Lennar Corporation

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