Lennar (NYSE:LEN) Announces Earnings Results, Beats Expectations By $0.44 EPS

Lennar (NYSE:LEN) posted its quarterly earnings data on Thursday. The construction company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44, Zacks reports. The business had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 earnings per share.

Lennar Stock Down 0.3 %

Shares of NYSE LEN opened at $119.90 on Friday. Lennar has a 12-month low of $115.61 and a 12-month high of $187.61. The stock’s fifty day simple moving average is $126.38 and its two-hundred day simple moving average is $153.95. The stock has a market capitalization of $31.84 billion, a PE ratio of 8.36, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is 13.95%.

Institutional Investors Weigh In On Lennar

An institutional investor recently raised its position in Lennar stock. Brighton Jones LLC raised its position in shares of Lennar Co. (NYSE:LEN) by 27.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,727 shares of the construction company’s stock after buying an additional 377 shares during the quarter. Brighton Jones LLC’s holdings in Lennar were worth $236,000 at the end of the most recent reporting period. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LEN shares. Seaport Res Ptn upgraded shares of Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Bank of America reduced their price target on Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday. Citigroup dropped their price objective on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group cut their price objective on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Finally, UBS Group decreased their target price on Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Fourteen research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $164.53.

About Lennar

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.