Lennar (NYSE:LEN) Announces Quarterly Earnings Results

Lennar (NYSE:LEN) issued its quarterly earnings data on Monday. The construction company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.13), Briefing.com reports. The company had revenue of $8.38 billion during the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.45 earnings per share.

Lennar Stock Up 0.7%

Shares of LEN opened at $109.35 on Tuesday. The business’s fifty day moving average price is $107.98 and its two-hundred day moving average price is $122.83. The firm has a market capitalization of $28.84 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 1.24 and a beta of 1.33. Lennar has a 52 week low of $98.42 and a 52 week high of $187.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lennar’s dividend payout ratio is currently 14.57%.

Analysts Set New Price Targets

LEN has been the subject of a number of research reports. Seaport Res Ptn raised shares of Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Wedbush restated a “neutral” rating and set a $158.00 price target on shares of Lennar in a research note on Monday, March 17th. UBS Group reduced their price objective on Lennar from $183.00 to $164.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Barclays lowered their price objective on Lennar from $121.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, March 24th. Finally, Keefe, Bruyette & Woods reduced their target price on Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a research report on Tuesday, March 25th. Fifteen analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $150.07.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Lennar stock. Brighton Jones LLC raised its holdings in Lennar Co. (NYSE:LEN) by 27.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,727 shares of the construction company’s stock after acquiring an additional 377 shares during the quarter. Brighton Jones LLC’s holdings in Lennar were worth $236,000 as of its most recent SEC filing. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.