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 Stock Down 4.1 %

Shares of LEN stock opened at $115.09 on Friday. Lennar has a 12 month low of $111.26 and a 12 month high of $187.61. The firm has a market cap of $30.56 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The stock has a 50 day moving average of $126.09 and a 200-day moving average of $153.31. The company has a quick ratio of 1.06, a current ratio of 4.71 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 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.44. The company had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.57 earnings per share. On average, equities analysts predict that Lennar will post 12.48 EPS for the current year.

Lennar Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Wedbush reaffirmed a “neutral” rating and issued a $158.00 target price on shares of Lennar in a research report on Monday, March 17th. Royal Bank of Canada reduced their target price on Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research report on Thursday, February 6th. Citigroup reduced their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. UBS Group reduced their target price on Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. dropped their price objective 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 equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $164.53.

Institutional Trading of Lennar

A hedge fund recently raised its stake in Lennar stock. Brighton Jones LLC increased its position in Lennar Co. (NYSE:LEN) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.