Lennar (NYSE:LEN.B) Share Price Passes 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 crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Lennar Stock Performance

The company's 50-day simple moving average is $110.93 and its 200 day simple moving average is $109.01. The company has a current ratio of 3.65, a quick ratio of 0.49 and a debt-to-equity ratio of 0.12. The stock has a market cap of $33.39 billion, a P/E ratio of 10.66 and a beta of 1.23.

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

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. Lennar's payout ratio is presently 16.54%.

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.