Lennar (NYSE:LEN) Issues Earnings Results, Misses Estimates By $0.13 EPS

Lennar (NYSE:LEN - Get Free Report) released its quarterly earnings data on Monday. The construction company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.13), Briefing.com reports. The firm had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.45 earnings per share.

Lennar Price Performance

LEN opened at $109.35 on Tuesday. The firm has a market cap of $28.84 billion, a price-to-earnings ratio of 7.63, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. Lennar has a fifty-two week low of $98.42 and a fifty-two week high of $187.61. The company's 50-day moving average price is $107.98 and its 200 day moving average price is $122.83. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.83%. Lennar's dividend payout ratio (DPR) is 14.57%.

Wall Street Analyst Weigh In

LEN has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods reduced their price target on Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a research report on Tuesday, March 25th. Royal Bank of Canada reduced their target price on shares of Lennar from $125.00 to $122.00 and set a "sector perform" rating on the stock in a research report on Monday, March 24th. Barclays reduced their target price on shares of Lennar from $121.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Monday, March 24th. Finally, UBS Group cut their price objective on shares of Lennar from $183.00 to $164.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Fifteen investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lennar has an average rating of "Hold" and a consensus price target of $150.07.

Institutional Trading of Lennar

An institutional investor recently raised its position in Lennar stock. Intech Investment Management LLC increased its stake in shares of Lennar Co. (NYSE:LEN - Free Report) by 29.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,840 shares of the construction company's stock after buying an additional 3,177 shares during the period. Intech Investment Management LLC's holdings in Lennar were worth $1,589,000 as of its most recent filing with the Securities and Exchange Commission. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.