Lennar (NYSE:LEN) Releases 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.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods downgraded Lennar from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $152.00 to $141.00 in a research note on Tuesday, March 11th. Royal Bank of Canada reduced their target price on Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a report on Thursday, February 6th. Wells Fargo & Company reduced their price objective on Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a report on Tuesday. The Goldman Sachs Group reduced 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, JPMorgan Chase & Co. reduced their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, December 13th. Fourteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $164.53.

Lennar Stock Down 4.1 %

NYSE LEN opened at $115.09 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The stock has a market capitalization of $30.56 billion, a PE ratio of 8.03, a PEG ratio of 1.24 and a beta of 1.69. Lennar has a 1 year low of $111.26 and a 1 year high of $187.61. The business’s 50-day moving average is $126.09 and its 200 day moving average is $153.48.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating 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 return on equity of 13.93% and a net margin of 11.10%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 EPS. Sell-side analysts forecast that Lennar will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued 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 13.95%.

Hedge Funds Weigh In On Lennar

An institutional investor recently raised its position in Lennar stock. Brighton Jones LLC raised its stake in shares of Lennar Co. (NYSE:LEN) by 27.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,727 shares of the construction company’s stock after acquiring 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. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.