Lennar Co. (NYSE:LEN) issued its earnings results on Tuesday. The company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.04. Lennar had a return on equity of 13.80% and a net margin of 8.33%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.18 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year.
Lennar (NYSE:LEN) opened at 52.68 on Tuesday. The company has a 50-day moving average price of $48.13 and a 200 day moving average price of $44.55. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 13.39 and a beta of 1.27. Lennar has a 52-week low of $39.68 and a 52-week high of $53.79.
Large investors have recently bought and sold shares of the company. Aristotle Capital Management LLC raised its stake in Lennar by 2.3% in the fourth quarter. Aristotle Capital Management LLC now owns 5,693,761 shares of the company’s stock valued at $244,432,000 after buying an additional 128,010 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in Lennar during the fourth quarter valued at about $16,701,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in Lennar during the fourth quarter valued at about $2,125,000. Numeric Investors LLC purchased a new stake in Lennar during the fourth quarter valued at about $1,099,000. Finally, Barings LLC purchased a new stake in Lennar during the fourth quarter valued at about $768,000. 79.04% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Friday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $53.00 target price on shares of Lennar in a report on Monday. Barclays PLC lifted their target price on Lennar from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, March 7th. Citigroup Inc assumed coverage on Lennar in a report on Tuesday, February 14th. They issued a “neutral” rating and a $52.00 target price on the stock. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $55.00 target price on shares of Lennar in a report on Tuesday, December 13th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Lennar has a consensus rating of “Buy” and a consensus target price of $53.81.
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Lennar Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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