Lennar (NYSE:LEN) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Key Points

• Lennar reported a quarterly earnings per share (EPS) of $2.00, which missed the consensus estimate of $2.14 by $0.14.
• The company's stock price increased by 0.0% to $132.99 during mid-day trading, with an average trading volume surpassing 4.9 million shares.
• Wall Street analysts maintain a consensus rating of "Hold" on Lennar shares, with a target price averaging $133.08.

Lennar (NYSE:LEN - Get Free Report) issued its quarterly earnings data on Thursday. The construction company reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.15, RTT News reports. Lennar had a return on equity of 10.89% and a net margin of 7.72%.The company had revenue of $8.81 billion during the quarter, compared to analysts' expectations of $9.01 billion. During the same quarter in the previous year, the business earned $3.90 earnings per share. The firm's revenue for the quarter was down 6.4% on a year-over-year basis.

Lennar Price Performance

NYSE:LEN traded down $5.70 during trading hours on Friday, hitting $127.17. The company's stock had a trading volume of 17,036,662 shares, compared to its average volume of 3,214,957. The business's 50-day moving average is $125.97 and its two-hundred day moving average is $116.03. The company has a market capitalization of $32.94 billion, a PE ratio of 12.57, a PEG ratio of 5.64 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65. Lennar has a 52-week low of $98.42 and a 52-week high of $189.65.

Institutional Trading of Lennar

Large investors have recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Lennar by 27.9% in the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company's stock valued at $236,000 after purchasing an additional 377 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company's stock valued at $141,000 after acquiring an additional 85 shares during the last quarter. Transamerica Financial Advisors LLC boosted its stake in shares of Lennar by 28.4% during the second quarter. Transamerica Financial Advisors LLC now owns 787 shares of the construction company's stock valued at $87,000 after acquiring an additional 174 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Lennar during the second quarter valued at $76,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Lennar during the second quarter valued at $47,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Wall Street Analyst Weigh In

LEN has been the subject of several analyst reports. Bank of America upped their price target on Lennar from $115.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday. Keefe, Bruyette & Woods cut their price target on Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Friday, June 20th. Barclays cut their price target on Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 18th. Evercore ISI cut their price target on Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research note on Wednesday, June 18th. Finally, Wedbush restated a "neutral" rating and set a $130.00 price target on shares of Lennar in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $128.33.

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.