Lennar (NYSE:LEN) Issues Quarterly Earnings Results, Beats Expectations By $0.50 EPS

Lennar (NYSE:LENGet Rating) announced its quarterly earnings data on Tuesday. The construction company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $3.99 by $0.50, Fidelity Earnings reports. Lennar had a return on equity of 21.45% and a net margin of 14.77%. During the same period last year, the company posted $2.95 earnings per share.

Shares of LEN stock opened at $67.66 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.78 and a current ratio of 8.06. Lennar has a fifty-two week low of $62.54 and a fifty-two week high of $117.54. The stock has a 50 day moving average price of $75.83 and a two-hundred day moving average price of $88.94. The company has a market capitalization of $19.99 billion, a P/E ratio of 4.63, a PEG ratio of 3.96 and a beta of 1.46.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 10th. Shareholders of record on Tuesday, April 26th were given a $0.375 dividend. The ex-dividend date was Monday, April 25th. This represents a $1.50 annualized dividend and a yield of 2.22%. Lennar’s payout ratio is currently 10.27%.

A number of research analysts have weighed in on LEN shares. JPMorgan Chase & Co. reduced their target price on Lennar from $108.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, April 13th. Wells Fargo & Company cut their price objective on Lennar from $85.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, June 17th. StockNews.com lowered Lennar from a “buy” rating to a “hold” rating in a report on Tuesday, May 31st. Barclays cut their price objective on Lennar from $93.00 to $85.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, BTIG Research boosted their price objective on Lennar from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $94.00.

Several institutional investors have recently made changes to their positions in LEN. Prudential Financial Inc. raised its holdings in shares of Lennar by 65.5% during the first quarter. Prudential Financial Inc. now owns 790,021 shares of the construction company’s stock valued at $64,127,000 after acquiring an additional 312,595 shares in the last quarter. Eaton Vance Management grew its stake in Lennar by 116.0% in the first quarter. Eaton Vance Management now owns 265,825 shares of the construction company’s stock worth $21,577,000 after purchasing an additional 142,753 shares during the period. Lazard Asset Management LLC grew its stake in Lennar by 4,363.1% in the first quarter. Lazard Asset Management LLC now owns 114,791 shares of the construction company’s stock worth $9,317,000 after purchasing an additional 112,219 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in Lennar by 39.0% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 395,764 shares of the construction company’s stock worth $32,124,000 after purchasing an additional 111,104 shares during the period. Finally, Miller Investment Management LP purchased a new stake in Lennar in the first quarter worth $7,085,000. Institutional investors own 82.00% of the company’s stock.

Lennar Company Profile (Get Rating)

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.

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Earnings History for Lennar (NYSE:LEN)

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