Lennar (NYSE:LEN) Posts Earnings Results, Beats Expectations By $0.50 EPS

Lennar (NYSE:LEN – Get Rating) issued its quarterly earnings data on Tuesday. The construction company reported $4.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.99 by $0.50, Fidelity Earnings reports. Lennar had a return on equity of 19.79% and a net margin of 14.04%. During the same period last year, the business posted $2.95 earnings per share.

LEN stock opened at $65.65 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.78 and a current ratio of 9.51. The company has a market capitalization of $19.40 billion, a P/E ratio of 5.14, a price-to-earnings-growth ratio of 3.90 and a beta of 1.46. The business has a 50-day simple moving average of $76.03 and a two-hundred day simple moving average of $89.08. Lennar has a 52-week low of $62.54 and a 52-week high of $117.54.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 10th. Stockholders of record on Tuesday, April 26th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Monday, April 25th. Lennar’s dividend payout ratio (DPR) is presently 11.75%.

Several equities research analysts have recently weighed in on the company. Evercore ISI assumed coverage on Lennar in a research note on Friday, March 18th. They set a “buy” rating and a $151.00 price objective for the company. Credit Suisse Group assumed coverage on Lennar in a report on Tuesday, April 5th. They set a “neutral” rating and a $88.00 price objective for the company. Wells Fargo & Company cut their target price on Lennar from $85.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, June 17th. The Goldman Sachs Group decreased their target price on Lennar from $120.00 to $96.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. Finally, Raymond James cut their price target on shares of Lennar from $125.00 to $75.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $93.77.

A number of hedge funds have recently modified their holdings of LEN. Moors & Cabot Inc. purchased a new position in Lennar in the first quarter worth $200,000. Sequoia Financial Advisors LLC bought a new position in shares of Lennar during the fourth quarter valued at approximately $338,000. Peapack Gladstone Financial Corp increased its stake in shares of Lennar by 36.6% during the fourth quarter. Peapack Gladstone Financial Corp now owns 3,079 shares of the construction company’s stock valued at $358,000 after purchasing an additional 825 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Lennar by 42.3% during the first quarter. Golden State Wealth Management LLC now owns 3,205 shares of the construction company’s stock valued at $324,000 after buying an additional 953 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its holdings in shares of Lennar by 51.6% during the first quarter. Industrial Alliance Investment Management Inc. now owns 3,457 shares of the construction company’s stock valued at $281,000 after buying an additional 1,177 shares during the last quarter. 82.00% of the stock is currently owned by institutional investors and hedge funds.

About Lennar (Get Rating)

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.

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