Lennar (NYSE:LEN) Releases Earnings Results, Misses Estimates By $0.12 EPS

Lennar (NYSE:LEN) issued its quarterly earnings data on Wednesday. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12), Briefing.com reports. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.82 earnings per share.

Lennar Stock Performance

Shares of LEN stock traded down $5.54 on Wednesday, hitting $145.93. The company had a trading volume of 4,495,275 shares, compared to its average volume of 2,060,597. The firm has a market cap of $39.58 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. Lennar has a twelve month low of $140.65 and a twelve month high of $193.80. The company has a 50-day moving average price of $171.26 and a 200-day moving average price of $169.97. The company has a quick ratio of 0.98, a current ratio of 4.90 and a debt-to-equity ratio of 0.08.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.37%. The ex-dividend date was Wednesday, October 9th. Lennar’s payout ratio is 13.25%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LEN. Zelman & Associates upgraded Lennar from a “neutral” rating to an “outperform” rating in a report on Monday, September 23rd. Wells Fargo & Company reduced their target price on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Tuesday. 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 report on Wednesday, September 4th. Evercore ISI reduced their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research note on Monday, September 23rd. Finally, Bank Of America (Bofa) raised their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $182.88.

Insider Activity

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the sale, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. The trade was a 42.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 9.36% of the company’s stock.

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.