Lennar (NYSE:LEN) Posts Quarterly Earnings Results, Beats Estimates By $0.28 EPS

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

Lennar Trading Down 5.3 %

Shares of NYSE LEN traded down $10.26 during midday 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’s 50 day moving average price is $176.53 and its 200 day moving average price is $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. Lennar has a twelve month low of $102.90 and a twelve month high of $193.80. The firm has a market cap of $50.03 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LEN. Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. StockNews.com upgraded Lennar from a “hold” rating to a “buy” rating in a research note on Friday. Argus lifted their price target on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Citigroup reiterated a “neutral” rating and issued a $164.00 target price (down previously from $174.00) on shares of Lennar in a research report on Tuesday, July 2nd. Two 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. According to MarketBeat, the company presently has an average 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.