Lennar (NYSE:LEN) Releases Quarterly Earnings Results, Beats Expectations By $0.28 EPS

Lennar (NYSE:LEN) released its quarterly earnings data on Thursday. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.28, Briefing.com reports. The company had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. Lennar had a net margin of 11.58% and a return on equity of 15.93%. Lennar’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.91 EPS.

Lennar Stock Performance

LEN traded down $10.26 during trading on Friday, hitting $182.19. 6,982,141 shares of the company traded hands, compared to its average volume of 2,091,645. The firm has a market cap of $50.03 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. Lennar has a one year low of $102.90 and a one year high of $193.80. The stock’s fifty day moving average is $176.53 and its 200 day moving average is $163.96.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Argus increased their price objective on shares of Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Royal Bank of Canada reissued an “underperform” rating and issued a $145.00 price objective on shares of Lennar in a research note on Thursday, June 20th. Wells Fargo & Company upped their target price on Lennar from $195.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. Bank of America lifted their price target on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $174.61.

Lennar Company Profile

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.