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

Lennar (NYSE:LEN) posted its quarterly earnings results on Thursday. The construction company reported $3.90 EPS for the quarter, beating the consensus estimate of $3.62 by $0.28, Briefing.com reports. The firm had revenue of $9.42 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Lennar had a return on equity of 15.93% and a net margin of 11.58%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.91 EPS.

Lennar Stock Down 5.3 %

NYSE LEN opened at $182.19 on Friday. 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 52 week low of $102.90 and a 52 week high of $193.80. 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. The stock has a fifty day moving average of $176.53 and a 200-day moving average of $163.96.

Analyst Ratings Changes

Several research analysts recently commented on LEN shares. Wedbush reaffirmed a “neutral” rating and issued a $144.00 target price on shares of Lennar in a research report on Friday. StockNews.com raised shares of Lennar from a “hold” rating to a “buy” rating in a research note on Friday. Evercore ISI raised their price target on shares of Lennar from $237.00 to $240.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Citigroup reissued a “neutral” rating and issued a $164.00 target price (down from $174.00) on shares of Lennar in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company boosted their price target on Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus 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.