Lennar (NYSE:LEN) Issues Q4 Earnings Guidance

Lennar (NYSE:LEN) updated its fourth quarter earnings guidance on Friday. The company provided EPS guidance of $4.10-4.25 for the period, compared to the consensus EPS estimate of $4.66.

Lennar Stock Down 4.1 %

NYSE LEN traded down $7.90 during trading on Friday, hitting $184.55. 2,339,381 shares of the company traded hands, compared to its average volume of 2,066,183. Lennar has a 12 month low of $102.90 and a 12 month high of $193.80. The business has a fifty day simple moving average of $176.08 and a 200 day simple moving average of $163.80. The company has a market capitalization of $50.68 billion, a P/E ratio of 12.48, a PEG ratio of 1.61 and a beta of 1.61. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last released its earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same quarter last year, the firm posted $3.91 EPS. The company’s revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts predict that Lennar will post 14.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wedbush reissued a neutral rating and issued a $144.00 price target on shares of Lennar in a report on Friday. Bank of America lifted their price objective on Lennar from $171.00 to $190.00 and gave the company a neutral rating in a report on Thursday. Royal Bank of Canada reissued an underperform rating and issued a $145.00 target price on shares of Lennar in a report on Thursday, June 20th. StockNews.com cut Lennar from a buy rating to a hold rating in a research report on Monday, August 12th. Finally, The Goldman Sachs Group downgraded shares of Lennar from a buy rating to a neutral rating and reduced their target price for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Lennar presently has an average rating of Hold and a consensus target price of $174.61.

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.