Lennar (NYSE:LEN) had its price objective hoisted by Citigroup from $70.00 to $73.00 in a research report sent to investors on Thursday morning. The brokerage currently has a buy rating on the construction company’s stock.
LEN has been the subject of a number of other research reports. Wedbush set a $60.00 target price on shares of Lennar and gave the stock a hold rating in a report on Thursday, January 4th. Credit Suisse Group raised shares of Lennar from a neutral rating to an outperform rating and upped their price objective for the company from $67.00 to $81.00 in a report on Monday, January 22nd. Zacks Investment Research lowered shares of Lennar from a buy rating to a hold rating in a report on Monday, January 15th. Wells Fargo raised shares of Lennar from a market perform rating to an outperform rating and set a $74.00 price objective for the company in a report on Tuesday, January 2nd. Finally, Evercore ISI raised shares of Lennar from an in-line rating to an outperform rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Lennar has an average rating of Buy and a consensus price target of $68.80.
Lennar stock opened at $61.58 on Thursday. Lennar has a 52-week low of $49.34 and a 52-week high of $72.17. The firm has a market cap of $14,776.68, a PE ratio of 16.16, a price-to-earnings-growth ratio of 0.62 and a beta of 1.23. The company has a quick ratio of 1.67, a current ratio of 8.42 and a debt-to-equity ratio of 0.80.
Lennar (NYSE:LEN) last released its earnings results on Wednesday, April 4th. The construction company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.35. Lennar had a net margin of 6.84% and a return on equity of 13.73%. The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. equities research analysts anticipate that Lennar will post 5.32 EPS for the current fiscal year.
In other Lennar news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $69.43, for a total transaction of $347,150.00. Following the completion of the transaction, the chief financial officer now owns 361,043 shares of the company’s stock, valued at $25,067,215.49. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Bruce E. Gross sold 1,000 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $72.00, for a total transaction of $72,000.00. Following the transaction, the chief financial officer now directly owns 356,043 shares of the company’s stock, valued at approximately $25,635,096. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 155,000 shares of company stock valued at $10,811,650. 8.50% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new position in Lennar during the fourth quarter worth about $103,000. First Personal Financial Services purchased a new position in Lennar during the fourth quarter worth about $140,000. Independence Bank of Kentucky purchased a new position in Lennar during the fourth quarter worth about $153,000. NuWave Investment Management LLC purchased a new position in Lennar during the fourth quarter worth about $203,000. Finally, Gotham Asset Management LLC purchased a new position in Lennar during the fourth quarter worth about $207,000. 88.73% of the stock is owned by institutional investors.
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Lennar Company Profile
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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