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

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

Lennar Trading Down 5.2 %

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. BTIG Research lowered their price objective on Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. JMP Securities restated a “market outperform” rating and issued a $170.00 price objective on shares of Lennar in a report on Thursday, June 20th. The Goldman Sachs Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. Citigroup reissued a “neutral” rating and set a $164.00 price target (down previously from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. Finally, Bank of America upped their price objective on shares of Lennar from $171.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $174.61.

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.