Lennar (NYSE:LEN) Announces Quarterly Earnings Results

Lennar (NYSE:LEN) released its quarterly earnings data on Thursday. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44, Zacks reports. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the prior year, the company posted $2.57 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis.

Lennar Trading Down 0.3 %

Shares of LEN opened at $119.90 on Friday. The firm has a market cap of $31.84 billion, a price-to-earnings ratio of 8.36, a PEG ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. Lennar has a fifty-two week low of $114.60 and a fifty-two week high of $187.61. The firm has a 50 day moving average price of $126.38 and a 200-day moving average price of $153.95.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.67%. Lennar’s payout ratio is 13.95%.

Institutional Investors Weigh In On Lennar

An institutional investor recently raised its position in Lennar stock. Brighton Jones LLC increased its position in Lennar Co. (NYSE:LEN) by 27.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,727 shares of the construction company’s stock after buying an additional 377 shares during the quarter. Brighton Jones LLC’s holdings in Lennar were worth $236,000 as of its most recent filing with the Securities & Exchange Commission. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LEN has been the topic of several research reports. Seaport Res Ptn upgraded shares of Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. reduced their target price on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. UBS Group reduced their target price on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Citigroup reduced their target price on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Fourteen analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $164.53.

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.