Lennar (NYSE:LEN) Issues Q2 Earnings Guidance

Lennar (NYSE:LEN - Get Free Report) updated its second quarter earnings guidance on Friday. The company provided EPS guidance of $1.80-$2.00 for the period, compared to the consensus EPS estimate of $2.68.

Analyst Ratings Changes

Several brokerages recently issued reports on LEN. The Goldman Sachs Group cut 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. Barclays lowered their target price on Lennar from $121.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Monday. UBS Group decreased their target price on Lennar from $183.00 to $164.00 and set a "buy" rating for the company in a research report on Monday. Wolfe Research lowered Lennar from an "outperform" rating to a "peer perform" rating in a report on Wednesday, January 8th. Finally, Citigroup lowered their price target on shares of Lennar from $196.00 to $150.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Fifteen analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $154.73.

Lennar Trading Up 2.0 %

Shares of NYSE:LEN traded up $2.30 during trading on Monday, reaching $117.52. 3,159,026 shares of the company traded hands, 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. Lennar has a 52-week low of $111.26 and a 52-week high of $187.61. The business's fifty day moving average is $126.09 and its 200-day moving average is $153.13. The firm has a market capitalization of $31.20 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 1.24 and a beta of 1.69.

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Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.44. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company's revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.57 EPS. As a group, analysts forecast that Lennar will post 12.48 EPS for the current year.

Lennar Announces Dividend

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

Hedge Funds Weigh In On Lennar

An institutional investor recently raised its position in Lennar stock. Brighton Jones LLC boosted its holdings in Lennar Co. (NYSE:LEN - Free Report) by 27.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,727 shares of the construction company's stock after buying an additional 377 shares during the quarter. Brighton Jones LLC's holdings in Lennar were worth $236,000 at the end of the most recent quarter. Institutional investors own 81.10% of the company's stock.

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; and development, construction, and management of multifamily rental properties.