Lennar (NYSE:LEN) Releases Q2 Earnings Guidance

Lennar (NYSE:LEN) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $1.80-$2.00 for the period, compared to the consensus estimate of $2.68.

Lennar Trading Down 4.1 %

Shares of LEN opened at $115.09 on Friday. The business’s 50-day moving average price is $126.09 and its 200 day moving average price is $153.31. The stock has a market capitalization of $30.56 billion, a P/E ratio of 8.03, a P/E/G ratio of 1.24 and a beta of 1.69. Lennar has a 1-year low of $111.26 and a 1-year high of $187.61. 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 (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. The firm had revenue of $7.63 billion for the quarter, compared to analysts’ expectations of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. Lennar’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $2.57 EPS. Analysts expect that Lennar will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 annualized dividend and a yield of 1.74%. Lennar’s dividend payout ratio (DPR) is presently 13.95%.

Analyst Ratings Changes

LEN has been the topic of several research analyst reports. Citigroup lowered their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. BTIG Research cut Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Wells Fargo & Company lowered their target price on Lennar from $130.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 18th. The Goldman Sachs Group lowered their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Fourteen investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $164.53.

Institutional Investors Weigh In On Lennar

A hedge fund recently raised its stake in Lennar stock. Brighton Jones LLC increased its stake in Lennar Co. (NYSE:LEN) by 27.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,727 shares of the construction company’s stock after purchasing 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 reporting period. Institutional investors and hedge funds 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.