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

Lennar (NYSE:LEN) posted its quarterly earnings data on Thursday. The construction company reported $3.90 earnings per share (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 company had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter in the previous year, the business earned $3.91 EPS. Lennar’s revenue was up 7.9% compared to the same quarter last year.

Lennar Price Performance

Shares of NYSE:LEN traded down $10.26 during midday trading on Friday, hitting $182.19. The company had a trading volume of 6,982,141 shares, compared to its average volume of 2,091,645. Lennar has a twelve month low of $102.90 and a twelve month high of $193.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.93 and a quick ratio of 0.91. The stock has a market cap of $50.03 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. The business’s 50-day simple moving average is $176.53 and its 200-day simple moving average is $163.96.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LEN shares. Wells Fargo & Company boosted their price objective on Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, September 9th. JMP Securities reiterated a “market outperform” rating and issued a $170.00 target price on shares of Lennar in a report on Thursday, June 20th. Bank of America upped their target price on Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday. Keefe, Bruyette & Woods upped their target price on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, BTIG Research lowered their target price on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.