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

Lennar (NYSE:LEN) issued its earnings results on Thursday. The construction company reported $3.90 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.14 billion. During the same quarter last year, the company earned $3.91 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year.

Lennar Price Performance

Shares of NYSE LEN opened at $192.45 on Friday. The firm has a market capitalization of $52.85 billion, a P/E ratio of 13.08, a PEG ratio of 1.61 and a beta of 1.61. Lennar has a one year low of $102.90 and a one year high of $193.80. The company’s fifty day moving average is $176.08 and its two-hundred day moving average is $163.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LEN. BTIG Research cut their price objective on shares of Lennar from $177.00 to $175.00 and set a “buy” rating on the stock in a report on Thursday, June 20th. The Goldman Sachs Group cut shares of Lennar from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $180.00 to $174.00 in a report on Monday, July 22nd. StockNews.com cut shares of Lennar from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Citigroup reissued a “neutral” rating and set a $164.00 price objective (down previously from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Lennar from $195.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $173.71.

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.