Lennar (NYSE:LEN) Releases Quarterly Earnings Results, Beats Estimates By $1.25 EPS

Lennar (NYSE:LEN) released its quarterly earnings results on Sunday. The construction company reported $4.52 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $1.25, MarketWatch Earnings reports. The company had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $7.26 billion. Lennar had a return on equity of 16.82% and a net margin of 13.83%. Lennar’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.12 EPS.

Shares of NYSE LEN traded down $1.47 during midday trading on Tuesday, reaching $96.83. 46,388 shares of the company were exchanged, compared to its average volume of 2,410,292. The company has a current ratio of 11.02, a quick ratio of 1.53 and a debt-to-equity ratio of 0.30. Lennar has a 1 year low of $69.41 and a 1 year high of $110.61. The stock has a fifty day simple moving average of $103.32 and a 200 day simple moving average of $100.36. The stock has a market cap of $30.34 billion, a P/E ratio of 8.91 and a beta of 1.50.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEN. Sandy Spring Bank purchased a new position in shares of Lennar during the second quarter worth about $25,000. Samalin Investment Counsel LLC acquired a new position in shares of Lennar during the 2nd quarter worth approximately $25,000. Harbour Investments Inc. acquired a new position in shares of Lennar during the 1st quarter worth approximately $27,000. KB Financial Partners LLC acquired a new position in shares of Lennar during the 1st quarter worth approximately $28,000. Finally, Van ECK Associates Corp acquired a new position in shares of Lennar during the 1st quarter worth approximately $32,000. 80.87% of the stock is currently owned by hedge funds and other institutional investors.

LEN has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised Lennar from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $115.00 to $141.00 in a report on Friday, June 18th. They noted that the move was a valuation call. Seaport Res Ptn reissued a “neutral” rating on shares of Lennar in a report on Monday, July 19th. Zacks Investment Research cut Lennar from a “strong-buy” rating to a “hold” rating and set a $110.00 target price for the company. in a report on Wednesday, August 18th. Royal Bank of Canada upped their price target on Lennar from $97.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, June 18th. Finally, Wedbush reiterated an “outperform” rating on shares of Lennar in a research report on Monday, June 14th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $108.50.

Lennar Company Profile

Lennar Corp. is a homebuilder company, which engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other.

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Earnings History for Lennar (NYSE:LEN)

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