Lennar (NYSE:LEN) Updates Q2 Earnings Guidance

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

Lennar Stock Down 4.2 %

NYSE LEN traded down $5.00 on Friday, hitting $115.07. 5,009,920 shares of the stock traded hands, compared to its average volume of 2,332,470. Lennar has a twelve month low of $110.55 and a twelve month 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. The company has a market capitalization of $30.55 billion, a P/E ratio of 8.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The stock has a 50-day moving average of $126.38 and a 200 day moving average of $153.95.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The company had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same period last year, the company earned $2.57 earnings per share. The business’s revenue was up 4.4% compared to the same quarter last year. As a group, analysts expect that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.74%. Lennar’s dividend payout ratio is 13.95%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group cut their price target on Lennar from $205.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Barclays cut their price target on Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Wells Fargo & Company cut their target price on Lennar from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Tuesday. Royal Bank of Canada dropped their price target on Lennar from $130.00 to $125.00 and set a “sector perform” rating for the company in a research note on Thursday, February 6th. Finally, Wedbush restated a “neutral” rating and issued a $158.00 target price on shares of Lennar in a research note on Monday. Fourteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $164.53.

Institutional Investors Weigh In On Lennar

An institutional investor recently raised its position in Lennar stock. Brighton Jones LLC increased its position in shares of Lennar Co. (NYSE:LEN) by 27.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,727 shares of the construction company’s stock after buying 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 quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Company Profile

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.