Last $31.56 USD
Change Today -0.1801 / -0.57%
Volume 2.7K
As of 1:08 PM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).

lennar corp - b shs (LEN/B) Snapshot

Open
$31.73
Previous Close
$31.74
Day High
$31.77
Day Low
$31.56
52 Week High
02/27/14 - $36.56
52 Week Low
09/5/13 - $25.38
Market Cap
7.7B
Average Volume 10 Days
14.9K
EPS TTM
$2.25
Shares Outstanding
31.3M
EX-Date
07/8/14
P/E TM
14.0x
Dividend
$0.16
Dividend Yield
0.51%
Current Stock Chart for LENNAR CORP - B SHS (LEN/B)

lennar corp - b shs (LEN/B) Details

Lennar Corporation, together with its subsidiaries, is engaged in homebuilding activities in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida, Homebuilding Houston, Financial Services, Rialto Investments, and Lennar Multifamily segments. Its homebuilding activities primarily include the construction and sale of single-family attached and detached homes to first-time, move-up, and active adult homebuyers, as well as the purchase, development, and sale of residential land. The company also offers real estate related financial services, including mortgage financing, title insurance, and closing services for home buyers and others. In addition, it is involved in raising, investing, and managing third party capital; originating and securitizing commercial mortgage loans, as well as investing in real estate related mortgage loans, properties, and related securities. Further, the company develops multifamily rental properties. Lennar Corporation was founded in 1954 and is headquartered in Miami, Florida.

Founded in 1954

lennar corp - b shs (LEN/B) Top Compensated Officers

Chief Executive Officer, Director and Member ...
Total Annual Compensation: $1.0M
President
Total Annual Compensation: $800.0K
Chief Financial Officer and Vice President
Total Annual Compensation: $650.0K
Chief Operating Officer and Vice President
Total Annual Compensation: $800.0K
General Counsel and Secretary
Total Annual Compensation: $400.0K
Compensation as of Fiscal Year 2013.

lennar corp - b shs (LEN/B) Key Developments

Lennar Corp. Reports Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended May 31, 2014; Provides Earnings Guidance for the Third Quarter, Fourth Quarter and Full Year of 2014

Lennar Corp. reported unaudited consolidated financial results for the second quarter and six months ended May 31, 2014. For the quarter, the company reported total revenues of $1,818,745,000 against $1,426,881,000 a year ago. Earnings before income taxes were $203,630,000 against $162,289,000 a year ago. Net earnings attributable to company were $137,719,000 or $0.61 per diluted share against $137,436,000 or $0.61 per diluted share a year ago. EBIT was $267,932,000 against $211,758,000 a year ago. For the six months, the company reported total revenues of $3,181,840,000 against $2,417,124,000 a year ago. Earnings before income taxes were $329,506,000 against $215,610,000 a year ago. Net earnings attributable to company were $215,836,000 or $0.95 per diluted share against $194,928,000 or $0.88 per diluted share a year ago. EBIT was $432,944,000 against $311,902,000 a year ago. Book value per share increased to $20.39 per share. The company also provided earnings guidance for the third quarter, fourth quarter and full year of 2014. For the third quarter, the company expects expect it's gross margin to be in the high 24% range. the company expects the third quarter delivering lower profits than the fourth quarter. For the fourth quarter, the company expects expect it's gross margin to be just slightly over 25%. For the full year of 2014, the company continues to expect it's gross margins in 2014 to average 25%. The company expects a range of profits still in the $30 million to $40 million range. Tax rate expectations for the year is at 37%.

Lennar Declares Quarterly Dividend on Class A and Class B Common Stock Payable on July 24, 2014

Lennar declared a quarterly cash dividend of $0.04 per share for both Class A and Class B common stock payable on July 24, 2014 to holders of record at the close of business on July 10, 2014. That's on par with the previous dividends.

Lennar Corp. Increases Unsecured Revolving Credit Facility to $1.5 Billion

Lennar Corp. announced that it increased its unsecured revolving credit facility from $950 million to $1.5 billion and extended the credit facility's maturity to June 2018. The $1.5 billion includes a $263 million accordion feature, subject to additional commitments. Amounts borrowed under the credit facility accrue interest at alternative rates based on leverage, the range of which is the Eurodollar Rate plus a margin equal to 1.75% to 2.25%. The proceeds available under the credit facility may be used for working capital and general corporate purposes. The credit agreement also provides that up to $500 million in commitments may be used for letters of credit. The credit agreement has multiple lenders led by JPMorgan Chase Bank, N.A., as administrative agent. The other lenders are Citibank, N.A.; The Royal Bank of Scotland PLC; Bank of America, N.A.; Deutsche Bank AG New York Branch; Royal Bank of Canada; Bank of Montreal; PNC Bank, National Association; UBS AG, Stamford Branch; Wells Fargo Bank, National Association; HSBC Bank USA; Texas Capital Bank, N.A.; TD Bank N.A.; California Bank & Trust; Comerica Bank; Regions Bank and Capital Bank, N.A.

 

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