Lennar (NYSE:LEN) Announces Quarterly Earnings Results

Lennar (NYSE:LEN) issued its quarterly earnings data on Thursday. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44, Zacks reports. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.44 billion. During the same quarter in the previous year, the company earned $2.57 EPS. The business’s revenue was up 4.4% on a year-over-year basis.

Lennar Stock Down 0.3 %

Lennar stock opened at $119.90 on Friday. 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 has a 12-month low of $114.60 and a 12-month high of $187.61. The firm’s fifty day moving average is $126.38 and its 200 day moving average is $153.95. The company has a market capitalization of $31.84 billion, a PE ratio of 8.36, a PEG ratio of 1.24 and a beta of 1.69.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.67%. Lennar’s dividend payout ratio (DPR) is currently 13.95%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Lennar stock. Brighton Jones LLC lifted its stake in shares of Lennar Co. (NYSE:LEN) by 27.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,727 shares of the construction company’s stock after acquiring an additional 377 shares during the period. Brighton Jones LLC’s holdings in Lennar were worth $236,000 at the end of the most recent reporting period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on LEN shares. BTIG Research cut shares of Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. Wells Fargo & Company dropped their target price on shares of Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a research report on Tuesday. The Goldman Sachs Group decreased their price target on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, December 23rd. Finally, Royal Bank of Canada decreased their price target on shares of Lennar from $130.00 to $125.00 and set a “sector perform” rating on the stock in a report on Thursday, February 6th. Fourteen investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $164.53.

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.