Lennar (NYSE:LEN) Releases Quarterly Earnings Results, Beats Estimates By $0.28 EPS

Lennar (NYSE:LEN) issued its quarterly earnings data on Thursday. The construction company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $3.62 by $0.28, Briefing.com reports. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $3.91 EPS.

Lennar Stock Up 2.1 %

NYSE LEN opened at $192.45 on Friday. Lennar has a 52 week low of $102.90 and a 52 week high of $193.80. The company has a quick ratio of 0.91, a current ratio of 4.93 and a debt-to-equity ratio of 0.08. The company has a fifty day moving average of $176.08 and a two-hundred day moving average of $163.80. The firm has a market capitalization of $52.85 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.61 and a beta of 1.61.

Analyst Ratings Changes

Several equities analysts recently commented on LEN shares. The Goldman Sachs Group downgraded shares of Lennar from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $180.00 to $174.00 in a research note on Monday, July 22nd. BTIG Research reduced their target price on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Evercore ISI raised their price objective on shares of Lennar from $237.00 to $240.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. dropped their price objective on Lennar from $157.00 to $154.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Finally, Argus increased their price target on Lennar from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $173.71.

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.