Lennar (NYSE:LEN) Issues Earnings Results

Lennar (NYSE:LEN - Get Free Report) released its quarterly earnings data on Wednesday. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.15 by ($0.12), Briefing.com reports. Lennar had a net margin of 11.51% and a return on equity of 15.47%. The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter in the prior year, the company earned $4.82 EPS. The business's revenue was down 9.3% on a year-over-year basis.

Lennar Price Performance

LEN stock traded down $5.54 during trading on Wednesday, reaching $145.93. 4,599,826 shares of the company were exchanged, compared to its average volume of 2,061,025. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.98 and a current ratio of 4.90. The stock's 50 day moving average price is $170.57 and its 200 day moving average price is $169.80. Lennar has a 52-week low of $140.65 and a 52-week high of $193.80. The company has a market cap of $39.58 billion, a P/E ratio of 9.66, a PEG ratio of 1.31 and a beta of 1.61.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a $0.50 dividend. The ex-dividend date was Wednesday, October 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.37%. Lennar's dividend payout ratio is presently 13.25%.

Insider Buying and Selling at Lennar

In other news, Director Jeffrey Sonnenfeld sold 17,500 shares of Lennar stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total transaction of $3,064,775.00. Following the completion of the transaction, the director now owns 23,689 shares of the company's stock, valued at $4,148,654.57. The trade was a 42.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 9.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LEN has been the topic of several research analyst reports. StockNews.com lowered Lennar from a "buy" rating to a "hold" rating in a research report on Saturday, September 28th. Evercore ISI lowered their target price on shares of Lennar from $240.00 to $236.00 and set an "outperform" rating on the stock in a research report on Monday, September 23rd. Wells Fargo & Company reduced their price target on shares of Lennar from $180.00 to $165.00 and set an "equal weight" rating for the company in a research report on Tuesday. Barclays downgraded shares of Lennar from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $210.00 to $181.00 in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Lennar from $192.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, December 13th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Lennar has a consensus rating of "Hold" and an average price target of $182.88.

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.