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

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

Lennar Trading Down 5.3 %

Shares of NYSE:LEN traded down $10.26 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 has a market capitalization 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. Lennar has a 52 week low of $102.90 and a 52 week high of $193.80. The business’s 50-day simple moving average is $176.53 and its 200 day simple moving average is $163.96. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LEN shares. The Goldman Sachs Group cut Lennar from a “buy” rating to a “neutral” rating and reduced their price target for the company from $180.00 to $174.00 in a research report on Monday, July 22nd. Royal Bank of Canada reissued an “underperform” rating and issued a $145.00 price target on shares of Lennar in a report on Thursday, June 20th. Keefe, Bruyette & Woods boosted their price objective on shares of Lennar from $183.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 2nd. Finally, Argus boosted their price target 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $174.61.

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.