Lennar (NYSE:LEN) Announces Earnings Results, Beats Expectations By $0.28 EPS

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

Lennar Stock Performance

NYSE LEN traded down $10.26 on Friday, reaching $182.19. 6,982,141 shares of the stock were exchanged, compared to its average volume of 2,091,645. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. Lennar has a one year low of $102.90 and a one year high of $193.80. The company’s 50-day simple moving average is $176.53 and its two-hundred day simple moving average is $163.96. The firm has a market capitalization of $50.03 billion, a PE ratio of 12.39, a PEG ratio of 1.61 and a beta of 1.61.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on LEN shares. BTIG Research lowered their price target on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. Argus increased their price target on shares of Lennar from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Wedbush reaffirmed a “neutral” rating and set a $144.00 price objective on shares of Lennar in a research note on Friday. StockNews.com upgraded Lennar from a “hold” rating to a “buy” rating in a report on Friday. Finally, Evercore ISI raised their price objective on Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $174.61.

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.