Lennar (NYSE:LEN) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Lennar (NYSE:LEN) released its earnings results on Thursday. The construction company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.08), FiscalAI reports. Lennar had a return on equity of 9.27% and a net margin of 6.08%.

Lennar Stock Performance

Shares of NYSE LEN traded down $4.25 during midday trading on Thursday, hitting $92.32. 6,302,864 shares of the company’s stock were exchanged, compared to its average volume of 2,954,352. Lennar has a twelve month low of $92.17 and a twelve month high of $144.24. The firm has a market cap of $22.80 billion, a P/E ratio of 11.55, a PEG ratio of 1.43 and a beta of 1.43. The stock’s 50 day moving average price is $112.91 and its 200-day moving average price is $120.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.89 and a quick ratio of 1.36.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Lennar’s payout ratio is currently 25.03%.

Analyst Ratings Changes

LEN has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price target on Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a research report on Thursday, December 18th. Argus raised shares of Lennar to a “strong-buy” rating in a report on Friday, January 16th. The Goldman Sachs Group lowered their target price on shares of Lennar from $125.00 to $118.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. Barclays reduced their price target on shares of Lennar from $98.00 to $88.00 and set an “underweight” rating on the stock in a research report on Thursday, December 18th. Finally, Wall Street Zen lowered shares of Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lennar currently has a consensus rating of “Reduce” and a consensus price target of $106.14.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Viking Global Investors LP increased its holdings in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after purchasing an additional 1,172,068 shares during the period. Janus Henderson Group PLC lifted its holdings in Lennar by 12.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,127,225 shares of the construction company’s stock worth $218,681,000 after purchasing an additional 228,247 shares during the period. Freestone Grove Partners LP acquired a new stake in Lennar in the fourth quarter worth about $95,941,000. Caisse de depot et placement du Quebec grew its position in Lennar by 3.7% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 555,305 shares of the construction company’s stock valued at $69,991,000 after buying an additional 19,566 shares in the last quarter. Finally, Bank of Nova Scotia increased its stake in Lennar by 1,303.1% during the 4th quarter. Bank of Nova Scotia now owns 490,105 shares of the construction company’s stock valued at $50,383,000 after buying an additional 455,174 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.