Lennar (NYSE:LEN) Releases Q2 Earnings Guidance

Lennar (NYSE:LEN) updated its second quarter earnings guidance on Friday. The company provided EPS guidance of $1.80-$2.00 for the period, compared to the consensus EPS estimate of $2.68.

Lennar Stock Performance

NYSE:LEN traded down $4.83 during midday trading on Friday, reaching $115.24. 4,827,728 shares of the company traded hands, compared to its average volume of 2,331,686. Lennar has a twelve month low of $110.55 and a twelve month high of $187.61. The firm has a market capitalization of $30.60 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The company has a fifty day moving average price of $126.38 and a 200 day moving average price of $153.95.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.44. The firm had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.57 EPS. On average, analysts expect that Lennar will post 12.48 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio is presently 13.95%.

Analyst Ratings Changes

A number of research firms have recently commented on LEN. Keefe, Bruyette & Woods downgraded Lennar from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $152.00 to $141.00 in a research note on Tuesday, March 11th. Barclays dropped their price objective on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Bank of America cut their target price on Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a research report on Tuesday. Wedbush reaffirmed a “neutral” rating and set a $158.00 target price on shares of Lennar in a research report on Monday. Finally, UBS Group cut their target price on Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Fourteen investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $164.53.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Lennar stock. Brighton Jones LLC lifted its stake in Lennar Co. (NYSE:LEN) by 27.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,727 shares of the construction company’s stock after acquiring an additional 377 shares during the period. Brighton Jones LLC’s holdings in Lennar were worth $236,000 at the end of the most recent reporting period. 81.10% of the stock is currently owned by institutional investors.

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.