Lennar (NYSE:LEN) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Lennar (NYSE:LEN) posted its earnings results on Monday. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04), Zacks reports. The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. Lennar had a return on equity of 12.32% and a net margin of 9.20%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.45 EPS.

Lennar Stock Performance

NYSE LEN opened at $104.65 on Wednesday. The company has a market cap of $27.61 billion, a P/E ratio of 8.66, a PEG ratio of 2.96 and a beta of 1.34. The company has a fifty day simple moving average of $107.89 and a 200 day simple moving average of $122.70. The company has a current ratio of 3.42, a quick ratio of 0.68 and a debt-to-equity ratio of 0.10. Lennar has a 12-month low of $98.42 and a 12-month high of $187.61.

Lennar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Wednesday, April 23rd. Lennar’s payout ratio is 16.54%.

Wall Street Analysts Forecast Growth

LEN has been the topic of several analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Lennar from $141.00 to $128.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 25th. Royal Bank Of Canada cut their target price on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a research report on Monday, March 24th. Wedbush restated a “neutral” rating and issued a $158.00 price target on shares of Lennar in a research report on Monday, March 17th. UBS Group cut their price target on shares of Lennar from $183.00 to $164.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, The Goldman Sachs Group decreased their price objective on Lennar from $141.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Fifteen equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lennar currently has an average rating of “Hold” and a consensus target price of $150.07.

Hedge Funds Weigh In On Lennar

A hedge fund recently raised its stake in Lennar stock. Brighton Jones LLC raised its stake in shares of Lennar Corporation (NYSE:LEN) by 27.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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. 81.10% of the stock is owned by institutional investors.

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.