Lennar (NYSE:LEN) Releases Quarterly Earnings Results

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

Lennar Stock Performance

Shares of LEN stock traded down $10.26 during mid-day trading on Friday, reaching $182.19. The stock had a trading volume of 6,982,141 shares, compared to its average volume of 2,091,645. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The firm has a market cap of $50.03 billion, a PE ratio of 12.39, a P/E/G ratio of 1.61 and a beta of 1.61. Lennar has a one year low of $102.90 and a one year high of $193.80. The firm’s 50 day simple moving average is $176.53 and its 200 day simple moving average is $163.96.

Analyst Upgrades and Downgrades

LEN has been the topic of several research reports. Raymond James lowered shares of Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Bank Of America (Bofa) increased 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 Friday. Keefe, Bruyette & Woods increased their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. BTIG Research decreased their price target on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $170.00 price target on shares of Lennar in a report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price 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.