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

Lennar (NYSE:LEN) posted its quarterly earnings data on Wednesday. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12), Briefing.com reports. The firm had revenue of $9.95 billion during 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 company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter last year, the business posted $4.82 EPS.

Lennar Stock Down 3.7 %

NYSE LEN traded down $5.54 during mid-day trading on Wednesday, reaching $145.93. The stock had a trading volume of 4,495,275 shares, compared to its average volume of 2,060,597. The company has a fifty day moving average price of $171.26 and a 200 day moving average price of $169.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar has a 1 year low of $140.65 and a 1 year high of $193.80. The stock has a market cap of $39.58 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61.

Lennar Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have commented on LEN shares. Zelman & Associates raised shares of Lennar from a “neutral” rating to an “outperform” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods upped their price target on shares of Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Bank of America boosted their price target on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Evercore ISI dropped their target price on Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Finally, JMP Securities boosted their target price on Lennar from $170.00 to $210.00 and gave the company a “market outperform” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $182.88.

Insiders Place Their Bets

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 shares were sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now directly owns 23,689 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.36% of the company’s stock.

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.