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

Lennar (NYSE:LEN) announced its quarterly earnings data on Thursday. The construction company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.28, Briefing.com reports. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The business had revenue of $9.42 billion during the quarter, compared to analyst estimates of $9.14 billion. During the same period last year, the company earned $3.91 earnings per share. Lennar’s quarterly revenue was up 7.9% compared to the same quarter last year.

Lennar Stock Performance

Shares of LEN traded down $10.26 during trading hours on Friday, reaching $182.19. 6,982,141 shares of the company traded hands, compared to its average volume of 2,091,645. The stock’s fifty day moving average is $176.53 and its 200 day moving average is $163.96. The stock has a market cap of $50.03 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 1.61 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 4.93. Lennar has a 1-year low of $102.90 and a 1-year high of $193.80.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LEN. Argus boosted their price target on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Wedbush reaffirmed a “neutral” rating and issued a $144.00 price objective on shares of Lennar in a research note on Friday. StockNews.com upgraded shares of Lennar from a “hold” rating to a “buy” rating in a report on Friday. Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $145.00 price objective on shares of Lennar in a report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.