Lennar (NYSE:LEN) Issues Quarterly Earnings Results

Lennar (NYSE:LEN - Get Free Report) released its quarterly earnings results on Thursday. The construction company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.44, Zacks reports. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $7.63 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. The company's revenue for the quarter was up 4.4% on a year-over-year basis.

Lennar Trading Up 2.0 %

Lennar stock traded up $2.30 during trading on Monday, hitting $117.52. The company had a trading volume of 3,159,026 shares, compared to its average volume of 2,367,087. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The company's 50 day simple moving average is $126.09 and its 200-day simple moving average is $153.13. Lennar has a 1-year low of $111.26 and a 1-year high of $187.61. The stock has a market cap of $31.20 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 annualized dividend and a dividend yield of 1.70%. Lennar's dividend payout ratio is currently 13.95%.

Institutional Investors Weigh In On Lennar

A hedge fund recently raised its stake in Lennar stock. Brighton Jones LLC raised its position in Lennar Co. (NYSE:LEN - Free Report) by 27.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,727 shares of the construction company's stock after acquiring an additional 377 shares during the quarter. Brighton Jones LLC's holdings in Lennar were worth $236,000 as of its most recent SEC filing. 81.10% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LEN shares. The Goldman Sachs Group decreased their target price on Lennar from $190.00 to $162.00 and set a "neutral" rating on the stock in a research report on Monday, December 23rd. JPMorgan Chase & Co. decreased their price objective on Lennar from $192.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, December 13th. Wolfe Research lowered shares of Lennar from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Bank of America decreased their price target on shares of Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 18th. Finally, BTIG Research cut shares of Lennar from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $154.73.

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.