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

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

Lennar Stock Performance

NYSE LEN traded down $10.26 on Friday, hitting $182.19. 6,982,141 shares of the stock traded hands, compared to its average volume of 2,091,645. The firm has a market capitalization of $50.03 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.61 and a beta of 1.61. The business’s fifty day moving average is $176.53 and its two-hundred day moving average 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 12 month low of $102.90 and a 12 month high of $193.80.

Wall Street Analysts Forecast Growth

LEN has been the subject of several research reports. Argus lifted their price target on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Evercore ISI lifted their price objective on shares of Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Keefe, Bruyette & Woods raised their price target on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. JMP Securities reissued a “market outperform” rating and set a $170.00 price objective on shares of Lennar in a report on Thursday, June 20th. Finally, The Goldman Sachs Group lowered Lennar from a “buy” rating to a “neutral” rating and dropped their target price for the company from $180.00 to $174.00 in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.