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

Lennar (NYSE:LEN) issued its quarterly earnings results on Thursday. The construction company reported $3.90 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $9.14 billion. During the same period last year, the company earned $3.91 earnings per share. The company’s revenue for the quarter was up 7.9% on a year-over-year basis.

Lennar Stock Down 5.2 %

Shares of NYSE LEN opened at $182.48 on Friday. The stock has a fifty day moving average price of $176.53 and a 200 day moving average price of $163.96. The company has a market cap of $50.11 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.61 and a beta of 1.61. Lennar has a 12-month low of $102.90 and a 12-month high of $193.80. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut shares of Lennar from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $180.00 to $174.00 in a research note on Monday, July 22nd. Bank Of America (Bofa) increased their target price on shares of Lennar from $171.00 to $190.00 and gave the company a “neutral” rating in a report on Friday. Keefe, Bruyette & Woods upped their price target on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $145.00 price objective on shares of Lennar in a report on Thursday, June 20th. Finally, JMP Securities reissued a “market outperform” rating and issued a $170.00 target price on shares of Lennar in a report on Thursday, June 20th. Two 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average 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.