Lennar (NYSE:LEN) Releases Earnings Results, Beats Estimates By $0.50 EPS

Lennar (NYSE:LENGet Rating) released its quarterly earnings results on Tuesday. The construction company reported $4.49 EPS for the quarter, topping the consensus estimate of $3.99 by $0.50, Fidelity Earnings reports. Lennar had a return on equity of 19.79% and a net margin of 14.04%. During the same period last year, the business posted $2.95 earnings per share.

Shares of LEN stock opened at $65.65 on Wednesday. The company has a current ratio of 9.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.22. Lennar has a twelve month low of $62.54 and a twelve month high of $117.54. The stock has a 50 day moving average of $76.03 and a 200 day moving average of $89.08. The stock has a market cap of $19.40 billion, a P/E ratio of 5.14, a P/E/G ratio of 3.90 and a beta of 1.46.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 10th. Stockholders of record on Tuesday, April 26th were paid a $0.375 dividend. The ex-dividend date was Monday, April 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.28%. Lennar’s payout ratio is 11.75%.

Several research analysts recently commented on the stock. Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Lennar in a research report on Wednesday, March 9th. Wells Fargo & Company dropped their target price on Lennar from $85.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, June 17th. UBS Group lowered their price target on Lennar from $154.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, June 16th. BTIG Research cut their price objective on shares of Lennar from $118.00 to $92.00 in a report on Monday, June 6th. Finally, Royal Bank of Canada lowered their target price on shares of Lennar from $109.00 to $100.00 and set a “sector perform” rating for the company in a research note on Friday, March 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $97.00.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. increased its holdings in Lennar by 65.5% in the first quarter. Prudential Financial Inc. now owns 790,021 shares of the construction company’s stock valued at $64,127,000 after buying an additional 312,595 shares in the last quarter. Eaton Vance Management boosted its position in Lennar by 116.0% during 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 in the last quarter. Lazard Asset Management LLC grew its holdings 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 valued at $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 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 395,764 shares of the construction company’s stock valued at $32,124,000 after acquiring an additional 111,104 shares during the period. Finally, Miller Investment Management LP acquired a new position in Lennar during the first quarter worth $7,085,000. Hedge funds and other institutional investors own 82.00% of the company’s stock.

About Lennar (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.

See Also

Earnings History for Lennar (NYSE:LEN)

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