Lennar (NYSE:LEN) Issues Earnings Results, Misses Expectations By $0.04 EPS

Lennar (NYSE:LEN) announced its quarterly earnings results on Monday. The construction company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04), Zacks reports. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $8.38 billion for the quarter, compared to analysts’ expectations of $8.21 billion. During the same period last year, the company posted $3.45 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis.

Lennar Price Performance

LEN opened at $109.35 on Tuesday. The firm has a market cap of $28.84 billion, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. Lennar has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The company’s 50-day moving average price is $107.98 and its 200 day moving average price is $122.83. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.83%. Lennar’s dividend payout ratio (DPR) is 14.57%.

Analyst Ratings Changes

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 research report on Thursday, March 6th. Evercore ISI reiterated an “in-line” rating and issued a $131.00 price objective (down previously from $159.00) on shares of Lennar in a report on Monday, March 24th. Wall Street Zen upgraded shares of Lennar from a “sell” rating to a “hold” rating in a report on Friday, April 18th. Royal Bank of Canada cut their price objective on shares of Lennar from $125.00 to $122.00 and set a “sector perform” rating on the stock in a report on Monday, March 24th. Finally, Wells Fargo & Company cut their price objective on shares of Lennar from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Fifteen research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lennar has a consensus rating of “Hold” and an average target price of $150.07.

Institutional Investors Weigh In On Lennar

A hedge fund recently raised its stake in Lennar stock. Intech Investment Management LLC raised its position in Lennar Co. (NYSE:LEN) by 29.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,840 shares of the construction company’s stock after purchasing an additional 3,177 shares during the quarter. Intech Investment Management LLC’s holdings in Lennar were worth $1,589,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 81.10% of the company’s stock.

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.