Lennar (NYSE:LEN) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Lennar (NYSE:LEN) released its earnings results on Thursday. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.08), FiscalAI reports. Lennar had a return on equity of 9.27% and a net margin of 6.08%.

Lennar Stock Down 4.4%

Shares of Lennar stock traded down $4.25 on Thursday, hitting $92.32. 6,302,864 shares of the company traded hands, compared to its average volume of 2,954,352. Lennar has a 12-month low of $92.17 and a 12-month high of $144.24. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The company has a market cap of $22.80 billion, a PE ratio of 11.55, a PEG ratio of 1.43 and a beta of 1.43. The company has a 50-day moving average price of $112.91 and a 200 day moving average price of $120.19.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.2%. Lennar’s dividend payout ratio (DPR) is 25.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LEN shares. Argus upgraded shares of Lennar to a “strong-buy” rating in a research report on Friday, January 16th. Wall Street Zen downgraded shares of Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. Citigroup cut their target price on shares of Lennar from $133.00 to $113.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Keefe, Bruyette & Woods reduced their target price on shares of Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a report on Thursday, December 18th. Finally, Barclays dropped their price target on Lennar from $98.00 to $88.00 and set an “underweight” rating on the stock in a report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $106.14.

Institutional Trading of Lennar

A number of institutional investors have recently bought and sold shares of LEN. Brighton Jones LLC increased its position in Lennar by 27.9% in the 4th quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock worth $236,000 after purchasing an additional 377 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Lennar by 29.8% in the 1st quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock valued at $1,589,000 after buying an additional 3,177 shares in the last quarter. Jump Financial LLC raised its position in Lennar by 15.0% during the second quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock valued at $2,834,000 after acquiring an additional 3,345 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in Lennar in the second quarter worth approximately $47,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Lennar by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock worth $3,867,000 after purchasing an additional 1,544 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Company Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.