Lennar (NYSE:LEN) Releases Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Lennar (NYSE:LEN) issued its earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.17, Briefing.com reports. Lennar had a return on equity of 12.03% and a net margin of 8.86%. The business had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.13 billion. During the same period in the previous year, the company posted $1.58 EPS. Lennar’s revenue was up 1.9% on a year-over-year basis. Lennar updated its Q3 guidance to $1.25-1.35 EPS.

Shares of NYSE:LEN traded down $0.07 during trading on Thursday, reaching $46.76. The company had a trading volume of 3,175,301 shares, compared to its average volume of 3,487,023. The firm’s fifty day moving average price is $50.09. Lennar has a fifty-two week low of $37.29 and a fifty-two week high of $55.58. The company has a market cap of $15.39 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 1.05 and a beta of 1.18. The company has a debt-to-equity ratio of 0.62, a current ratio of 13.93 and a quick ratio of 0.79.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Wednesday, July 10th. Lennar’s payout ratio is currently 2.52%.

LEN has been the topic of a number of analyst reports. Susquehanna Bancshares started coverage on Dow Chemical in a report on Wednesday, April 17th. They issued a “positive” rating on the stock. Barclays set a $54.00 price target on Lennar and gave the company a “buy” rating in a research note on Thursday, March 28th. Raymond James set a C$80.00 price target on West Fraser Timber and gave the company a “strong-buy” rating in a research note on Tuesday, June 18th. BTIG Research set a $65.00 price target on Lennar and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Wedbush upgraded Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.89.

In related news, President Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $49.04, for a total transaction of $980,800.00. Following the transaction, the president now owns 346,946 shares of the company’s stock, valued at $17,014,231.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.43% 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, Lennar Financial Services, Lennar Multifamily, and Rialto 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.

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Earnings History for Lennar (NYSE:LEN)

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