Lennar (NYSE:LEN) Issues Q2 Earnings Guidance

Lennar (NYSE:LEN) updated its second quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $1.80-$2.00 for the period, compared to the consensus estimate of $2.68.

Analyst Ratings Changes

Several research firms have commented on LEN. Wedbush reaffirmed a “neutral” rating and set a $158.00 price objective on shares of Lennar in a research note on Monday. Seaport Res Ptn raised shares of Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Royal Bank of Canada lowered their target price on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. The Goldman Sachs Group decreased their price objective on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Finally, Citigroup decreased 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. Fourteen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $164.53.

Lennar Stock Down 4.2 %

Shares of LEN traded down $5.00 on Friday, hitting $115.07. 5,009,920 shares of the stock traded hands, compared to its average volume of 2,332,470. The company has a market capitalization of $30.55 billion, a PE ratio of 8.06, a P/E/G ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The business has a 50 day simple moving average of $126.38 and a 200 day simple moving average of $153.95. Lennar has a one year low of $110.55 and a one year high of $187.61.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44. 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 company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.57 EPS. As a group, equities analysts forecast that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.74%. Lennar’s payout ratio is currently 13.95%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lennar stock. Brighton Jones LLC increased its holdings in shares of Lennar Co. (NYSE:LEN) by 27.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,727 shares of the construction company’s stock after purchasing an additional 377 shares during the period. Brighton Jones LLC’s holdings in Lennar were worth $236,000 as of its most recent SEC filing. 81.10% of the stock is owned by institutional investors and hedge funds.

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.