Lennar Corporation (LEN) Issues Earnings Results
Lennar Corporation (NYSE:LEN) issued its quarterly earnings data on Tuesday. The construction company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05, Bloomberg Earnings reports. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.52%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue was up 15.1% on a year-over-year basis.
Shares of Lennar Corporation (NYSE:LEN) opened at 56.41 on Thursday. Lennar Corporation has a 12 month low of $39.68 and a 12 month high of $56.44. The company has a 50 day moving average of $51.69 and a 200-day moving average of $52.05. The firm has a market capitalization of $13.23 billion, a P/E ratio of 16.49 and a beta of 1.22.
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A number of equities research analysts have commented on the stock. MKM Partners reissued a “neutral” rating and set a $58.00 price objective (up previously from $55.00) on shares of Lennar Corporation in a report on Friday, June 23rd. Mizuho lowered shares of Lennar Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $59.00 to $53.00 in a report on Tuesday, September 19th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $62.00 price objective on shares of Lennar Corporation in a report on Thursday, July 27th. Bank of America Corporation increased their price objective on shares of Lennar Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Credit Suisse Group assumed coverage on shares of Lennar Corporation in a report on Thursday, June 22nd. They set a “neutral” rating and a $55.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $57.63.
About Lennar Corporation
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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