Lennar Corporation (LEN) Releases Earnings Results, Beats Expectations By $0.08 EPS

Lennar Corporation (LEN) reported quarterly earnings results on Tuesday, Jun-21-2016. The company said it had a profit of $0.95 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.08. Analysts had a consensus of $0.87. The company posted revenue of $2745.80 million in the period, compared to analysts expectations of $2574.43 million. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS.

Many Wall Street Analysts have commented on Lennar Corporation. Company shares were Reiterated by MKM Partners on Mar 30, 2016 to “Neutral”, Firm has raised the Price Target to $ 52 from a previous price target of $51 .Company shares were Reiterated by Deutsche Bank on Mar 30, 2016 to “Hold”, Firm has raised the Price Target to $ 49 from a previous price target of $48 .

Lennar Corporation opened for trading at $46.83 and hit $47.32 on the upside on Monday, eventually ending the session at $46.66, with a gain of 1.00% or 0.46 points. The heightened volatility saw the trading volume jump to 26,53,846 shares. Company has a market cap of $10,018 M.

In a different news, on Apr 8, 2016, Sherrill W Hudson (director) sold 2,500 shares at $47.54 per share price. According to the SEC, on Apr 8, 2016, Theron I Gilliam (director) sold 2,091 shares at $47.84 per share price. On Apr 5, 2016, Jonathan M Jaffe (Vice President/COO) sold 20,000 shares at $47.80 per share price, according to the Form-4 filing with the securities and exchange commission.

Lennar Corporation is a real estate company. The Company is a homebuilder a provider of real estate-related financial services a commercial real estate investment investment management and finance company. It operates under Homebuilding Operations Lennar Financial Services Rialto and Lennar Multifamily segments. It has grouped its homebuilding activities into five segments: Homebuilding East Homebuilding Central Homebuilding West Homebuilding Southeast Florida and Homebuilding Houston. Its homebuilding operations include the construction and sale of single-family attached and detached homes. Lennar Financial Services offers residential mortgage loan products to buyers of their homes and others. The Rialto segment is a commercial real estate investment investment management and finance company. The Lennar Multifamily segment focuses on developing a portfolio of multifamily rental properties in select United States markets. It operates under brand name Lennar.

Lennar Corporation

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