Lennar (NYSE:LEN) announced its earnings results on Wednesday. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.21), Bloomberg Earnings reports. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.59 billion. Lennar had a return on equity of 13.30% and a net margin of 7.47%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 EPS.
Shares of Lennar (NYSE:LEN) opened at $69.57 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76. Lennar has a 1 year low of $43.27 and a 1 year high of $70.40. The firm has a market cap of $16,160.00, a PE ratio of 20.05, a P/E/G ratio of 1.35 and a beta of 1.35.
LEN has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Lennar from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Friday, September 15th. Royal Bank of Canada restated a “buy” rating and set a $64.00 target price on shares of Lennar in a report on Monday, September 25th. UBS Group initiated coverage on shares of Lennar in a report on Wednesday, October 25th. They set a “buy” rating on the stock. BTIG Research lifted their target price on shares of Lennar from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Finally, Bank of America lifted their target price on shares of Lennar from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Lennar currently has a consensus rating of “Hold” and an average price target of $61.33.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $64.02, for a total transaction of $1,280,400.00. Following the completion of the transaction, the chief operating officer now directly owns 99,000 shares of the company’s stock, valued at approximately $6,337,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bruce E. Gross sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 371,043 shares of the company’s stock, valued at $22,262,580. The disclosure for this sale can be found here. 12.18% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of LEN. Pacer Advisors Inc. boosted its stake in Lennar by 8.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,386 shares of the construction company’s stock valued at $234,000 after purchasing an additional 348 shares during the period. Commonwealth Bank of Australia lifted its stake in shares of Lennar by 32.4% in the 2nd quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after acquiring an additional 530 shares during the period. AXA lifted its stake in shares of Lennar by 4.3% in the 2nd quarter. AXA now owns 7,300 shares of the construction company’s stock worth $390,000 after acquiring an additional 300 shares during the period. Riverhead Capital Management LLC lifted its stake in shares of Lennar by 0.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the construction company’s stock worth $444,000 after acquiring an additional 36 shares during the period. Finally, Fiera Capital Corp acquired a new stake in shares of Lennar in the 2nd quarter worth approximately $224,000. 81.25% of the stock is owned by hedge funds and other institutional investors.
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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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