LEN stock’s latest quarterly balance sheet for the period ending May 2023 reported total assets of $37.44 Billion and total liabilities of $11.65 Billion. The LEN debt-to-assets ratio is at 31.12%.
The LEN latest quarterly earnings report for the period ending May 2023 displayed a revenue of $8.73 Billion, with a net income of $1.10 Billion, and a gain in profit margin from the last quarter of 12.55%. This quarter, the stock’s reported revenue exceeded analysts’ estimates by $239.154 Million (2.82%).
Moreover, the LEN stock reported an EPS of $3.87 for the period ending May 2023, beating the analysts’ estimate of $3.519 by 9.97%. The next quarter’s LEN revenue is estimated to be $10.206 Billion and the forecasted EPS is $4.596. The report will be released on December 13th, 2023.
Furthermore, The LEN stock has a CMP of $109.63 and an intraday gain of 0.05%. The LEN stock’s average volume for the last 10 days is 2.215 Million and its current volume is 1.687 Million. The LEN stock has a float of 244.568 Million shares and a market cap of $30.918 Billion.
The LEN stock’s dividend yield for the TTM is 1.37% and its last dividend payment was $0.38 per share. The last ex-dividend date for the stock was October 11, 2023, and its payout ratio is 11.11%. Its dividends are also safe and reliable, as LEN stock’s earnings and cash flows support them.
LEN stock has confidence in its future growth and enough cash flow to invest in its business, as shown by its low dividend payout ratio.
The dividend amount of the stock has shown that the company is financially and fundamentally healthy, as it has increased from $0.16 to $1.50 in the past five years.
LEN Stock Price Technical Analysis in 1-D Timeframe
According to the Lennar Corporation (NYSE: LEN) chart, the stock price has been rising since June 2022 when LEN rallied from the $62 support level by making higher highs and lows. But at a high, it faced resistance as investors took profit booking and stayed below the trendline.
However, the stock has shown a recovery sign as the LEN price took support at a crucial level of around $107 on the charts in the first week of October 2023.
Therefore, if buyers thrust more the LEN stock might surge abruptly from the current level and surge above the previous swing high. The possible targets are between $115 and $120.
On the contrary, if LEN stock fails to hold its grip and consecutively falls and breaches below $105, it may slide to $100.
At the time of writing, LEN stock is trading near 20 EMAs. Therefore, if more buying volume persists, LEN might conquer rejecting EMAs in the upcoming sessions.
The MACD in LEN stock shows a bullish cross where the MACD is -1.80. The RSI is at 42.31 and took support on 14 SMA which is at 40.93. The indicators in LEN stock suggest bullish signals on the charts.
In addition, the LEN stock ratings for stock are positive and highly recommended based on 22 analysts who have evaluated the stock in the last three months. The 1-year price forecasts for the stock by 18 analysts range between $112.00 to $161.00.
Summary
The technical analysis tools of the Lennar stock price highlight upward signals and support bullishness. Lennar Corporation (NYSE: LEN) chart indicates that the traders and investors of the share price are bullish and positive on the 1-D timeframe. The price action shows a higher highs and lows formation in the stock; showing signs of a more bullish outlook at the time of publishing.
Technical Levels
Support Levels: $105 and $100
Resistance Levels: $115 and $120
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/10/18/len-stock-forecast-can-nyse-len-thrust-upward-reach-150/