Lennar Co. (LEN) Issues Earnings Results, Beats Expectations By $0.03 EPS

Lennar Co. (NYSE:LEN) released its quarterly earnings data on Tuesday. The company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. Lennar had a net margin of 8.33% and a return on equity of 13.80%. The company earned $2.34 billion during the quarter, compared to analyst estimates of $2.18 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year.

Shares of Lennar (NYSE:LEN) traded down 2.68% during trading on Tuesday, hitting $51.27. 4,617,105 shares of the company traded hands. The company has a 50-day moving average of $48.41 and a 200-day moving average of $44.60. Lennar has a 52-week low of $39.68 and a 52-week high of $53.79. The stock has a market capitalization of $12.02 billion, a PE ratio of 13.03 and a beta of 1.27.

Earnings History for Lennar (NYSE:LEN)

Your IP Address:

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new position in Lennar during the third quarter valued at $304,677,000. Hexavest Inc. purchased a new position in Lennar during the third quarter valued at $79,257,000. Ruffer LLP increased its position in Lennar by 3,371.0% in the fourth quarter. Ruffer LLP now owns 1,662,608 shares of the company’s stock valued at $71,722,000 after buying an additional 1,614,708 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Lennar during the fourth quarter valued at $62,363,000. Finally, Allianz Asset Management AG increased its position in Lennar by 1,530.0% in the fourth quarter. Allianz Asset Management AG now owns 953,827 shares of the company’s stock valued at $40,948,000 after buying an additional 895,309 shares in the last quarter. 79.04% of the stock is owned by institutional investors.

LEN has been the subject of a number of research reports. Barclays PLC upped their price objective on shares of Lennar from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 7th. Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 17th. BTIG Research started coverage on shares of Lennar in a research report on Tuesday, February 7th. They set a “buy” rating and a $56.00 price target for the company. MKM Partners reissued a “neutral” rating on shares of Lennar in a research report on Friday, December 23rd. Finally, Royal Bank of Canada reissued a “buy” rating and set a $53.00 price target on shares of Lennar in a research report on Monday. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Lennar currently has a consensus rating of “Buy” and an average price target of $53.81.

About Lennar

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.

5 Day Chart for NYSE:LEN

This story was originally published by WKRB News (http://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://www.wkrb13.com/markets/2024805/lennar-co-len-releases-earnings-results-beats-estimates-by-0-04-eps.html

Receive News & Ratings for Lennar Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Co. and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.