Lennar (NYSE:LEN) Issues Quarterly Earnings Results, Beats Estimates By $0.39 EPS

Lennar (NYSE:LEN) announced its earnings results on Thursday. The construction company reported $3.91 earnings per share for the quarter, beating the consensus estimate of $3.52 by $0.39, Briefing.com reports. Lennar had a net margin of 12.66% and a return on equity of 18.27%. The firm had revenue of $8.73 billion during the quarter, compared to the consensus estimate of $8.49 billion. During the same quarter in the previous year, the company posted $5.18 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis.

Lennar Stock Up 1.5 %

NYSE LEN opened at $117.71 on Friday. The stock has a market cap of $33.83 billion, a PE ratio of 8.03, a P/E/G ratio of 1.53 and a beta of 1.48. Lennar has a fifty-two week low of $69.90 and a fifty-two week high of $133.24. The business has a 50 day moving average price of $122.59 and a two-hundred day moving average price of $114.25. The company has a quick ratio of 1.25, a current ratio of 7.09 and a debt-to-equity ratio of 0.15.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Thursday, July 6th. Lennar’s payout ratio is currently 10.24%.

Insiders Place Their Bets

In related news, Director Amy Banse purchased 859 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average price of $117.65 per share, for a total transaction of $101,061.35. Following the acquisition, the director now directly owns 8,972 shares in the company, valued at $1,055,555.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Amy Banse purchased 859 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average price of $117.65 per share, for a total transaction of $101,061.35. Following the acquisition, the director now directly owns 8,972 shares in the company, valued at $1,055,555.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey Joseph Mccall sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $126.48, for a total value of $1,264,800.00. Following the transaction, the executive vice president now owns 141,386 shares of the company’s stock, valued at $17,882,501.28. The disclosure for this sale can be found here. Insiders purchased a total of 2,634 shares of company stock worth $321,855 in the last 90 days. 9.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lennar

Institutional investors and hedge funds have recently made changes to their positions in the business. Coppell Advisory Solutions LLC acquired a new stake in shares of Lennar during the 2nd quarter valued at approximately $46,000. Money Concepts Capital Corp raised its position in shares of Lennar by 494.4% during the 4th quarter. Money Concepts Capital Corp now owns 737 shares of the construction company’s stock valued at $67,000 after acquiring an additional 613 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Lennar during the 1st quarter valued at approximately $104,000. Benjamin Edwards Inc. acquired a new stake in shares of Lennar during the 2nd quarter valued at approximately $107,000. Finally, Moors & Cabot Inc. acquired a new stake in shares of Lennar during the 1st quarter valued at approximately $200,000. 79.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JMP Securities boosted their target price on shares of Lennar from $115.00 to $135.00 in a research note on Friday, June 16th. Citigroup cut their target price on shares of Lennar from $148.00 to $139.00 and set a “buy” rating for the company in a research note on Monday. BTIG Research upped their price objective on shares of Lennar from $120.00 to $148.00 in a research note on Friday, June 16th. UBS Group upped their price objective on shares of Lennar from $127.00 to $150.00 in a research note on Friday, June 16th. Finally, StockNews.com began coverage on shares of Lennar in a research note on Thursday, August 17th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $127.56.

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.