Lennar (NYSE:LEN.B) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Lennar's stock price recently surpassed its 200-day moving average, trading at $124.39, with a high of $129.17.
• The company reported quarterly earnings of $1.90 per share, falling short of analysts' expectations of $1.96.
• Lennar declared a quarterly dividend of $0.50, translating to an annualized yield of 1.6% with a payout ratio of 16.54%.

Lennar Corporation (NYSE:LEN.B - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $109.13 and traded as high as $129.17. Lennar shares last traded at $124.39, with a volume of 58,077 shares trading hands.

Lennar Price Performance

The company has a market capitalization of $33.08 billion, a PE ratio of 10.56 and a beta of 1.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.49. The company's 50 day simple moving average is $111.95 and its 200 day simple moving average is $109.22.

Lennar (NYSE:LEN.B - Get Free Report) last announced its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.06). The company had revenue of $8.38 billion during the quarter. Lennar had a net margin of 9.20% and a return on equity of 12.73%. During the same quarter in the prior year, the company earned $3.38 EPS.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.6%. The ex-dividend date was Thursday, July 3rd. Lennar's dividend payout ratio is currently 16.54%.

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.