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

Lennar (NYSE:LEN) posted its earnings results 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 net margin of 11.58% and a return on equity of 15.93%. The firm had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the business posted $3.91 EPS. Lennar’s revenue was up 7.9% on a year-over-year basis.

Lennar Stock Performance

Shares of LEN opened at $192.45 on Friday. Lennar has a one year low of $102.90 and a one year high of $193.80. The company has a 50-day moving average of $176.08 and a two-hundred day moving average of $163.80. 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 $52.85 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.61 and a beta of 1.61.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LEN shares. Keefe, Bruyette & Woods boosted their price objective on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Royal Bank of Canada reissued an “underperform” rating and issued a $145.00 price target on shares of Lennar in a research note on Thursday, June 20th. Wedbush restated a “neutral” rating and set a $144.00 price objective on shares of Lennar in a research note on Wednesday, September 11th. Argus increased their target price on shares of Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, BTIG Research dropped their price target on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $173.71.

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.