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

Lennar (NYSE:LEN) posted its quarterly earnings data on Thursday. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate of $3.62 by $0.28, Briefing.com reports. The company had revenue of $9.42 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $3.91 earnings per share.

Lennar Trading Down 5.3 %

LEN stock traded down $10.26 on Friday, reaching $182.19. The company’s stock had a trading volume of 6,982,141 shares, compared to its average volume of 2,091,645. The business has a fifty day simple moving average of $176.53 and a two-hundred day simple moving average of $163.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. The firm has a market cap of $50.03 billion, a PE ratio of 12.39, a PEG ratio of 1.61 and a beta of 1.61. Lennar has a 12-month low of $102.90 and a 12-month high of $193.80.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wedbush restated a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a research report on Friday. Royal Bank of Canada restated an “underperform” rating and issued a $145.00 price objective on shares of Lennar in a research report on Thursday, June 20th. Citigroup reiterated a “neutral” rating and set a $164.00 price target (down from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods increased their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI increased their price target on shares of Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Lennar has an average rating of “Hold” and a consensus price target of $174.61.

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.