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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.28, Briefing.com reports. The business had revenue of $9.42 billion for the quarter, compared to the consensus estimate of $9.14 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.91 earnings per share.

Lennar Stock Performance

Lennar stock opened at $192.45 on Friday. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $52.85 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. Lennar has a 52 week low of $102.90 and a 52 week high of $193.80. The stock has a 50 day moving average of $176.08 and a 200-day moving average of $163.80.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LEN shares. Evercore ISI upped their target price on Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Citigroup reissued a “neutral” rating and set a $164.00 target price (down previously from $174.00) on shares of Lennar in a research note on Tuesday, July 2nd. Wedbush restated a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a report on Wednesday, September 11th. The Goldman Sachs Group downgraded Lennar from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. Finally, Raymond James lowered shares of Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Lennar currently has a consensus rating of “Hold” and a consensus price target 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.