Brokerages Set Lennar Co. (LEN) Target Price at $58.23

Lennar Co. (NYSE:LEN) has been assigned a consensus rating of “Hold” from the eighteen ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $58.23.

Several brokerages have recently weighed in on LEN. Mizuho cut shares of Lennar from a “buy” rating to a “neutral” rating and lowered their price target for the company from $59.00 to $53.00 in a research report on Tuesday, September 19th. BTIG Research boosted their price target on shares of Lennar from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. MKM Partners reissued a “neutral” rating on shares of Lennar in a research report on Tuesday, September 5th. Royal Bank of Canada reissued a “buy” rating and set a $64.00 price target on shares of Lennar in a research report on Monday, September 25th. Finally, Wedbush reissued a “neutral” rating and set a $54.00 price target on shares of Lennar in a research report on Thursday, September 14th.

Shares of Lennar (NYSE LEN) traded up $1.19 during mid-day trading on Monday, hitting $63.75. 2,152,087 shares of the stock traded hands, compared to its average volume of 2,466,588. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76. The firm has a market cap of $14,557.89, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.26 and a beta of 1.35. Lennar has a 1 year low of $42.23 and a 1 year high of $64.00.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.05. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Lennar had a net margin of 6.65% and a return on equity of 12.37%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. analysts expect that Lennar will post 4.04 EPS for the current fiscal year.

In other Lennar news, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 371,043 shares of the company’s stock, valued at $22,262,580. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.18% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of LEN. D.A. Davidson & CO. lifted its position in shares of Lennar by 8.9% during the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after purchasing an additional 155 shares in the last quarter. Commonwealth Bank of Australia lifted its position in shares of Lennar by 32.4% during the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after purchasing an additional 530 shares in the last quarter. QS Investors LLC lifted its position in shares of Lennar by 1.0% during the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after purchasing an additional 25 shares in the last quarter. MUFG Americas Holdings Corp lifted its position in shares of Lennar by 7.3% during the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after purchasing an additional 220 shares in the last quarter. Finally, Chartist Inc. CA acquired a new stake in shares of Lennar during the second quarter worth about $200,000. 81.25% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://www.dispatchtribunal.com/2018/01/13/brokerages-set-lennar-co-len-target-price-at-58-23.html.

About Lennar

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.

Analyst Recommendations for Lennar (NYSE:LEN)

Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply