Lennar Corp. (NYSE:LEN) had its price target dropped by investment analysts at Citigroup Inc. from $50.00 to $48.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “neutral” rating on the stock. Citigroup Inc.’s price objective indicates a potential upside of 10.09% from the company’s previous close.
Several other equities analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Lennar Corp. from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Wednesday, August 24th. Wedbush assumed coverage on shares of Lennar Corp. in a report on Monday. They issued a “neutral” rating and a $46.00 price target on the stock. MKM Partners reiterated a “hold” rating on shares of Lennar Corp. in a report on Wednesday, June 22nd. Raymond James Financial Inc. upgraded shares of Lennar Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, June 27th. Finally, FBR & Co reiterated an “outperform” rating and issued a $60.00 price target on shares of Lennar Corp. in a report on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Lennar Corp. currently has an average rating of “Buy” and a consensus target price of $54.08.
Lennar Corp. (NYSE:LEN) opened at 43.60 on Wednesday. The stock has a 50 day moving average of $46.22 and a 200 day moving average of $46.44. Lennar Corp. has a 12-month low of $37.14 and a 12-month high of $52.50. The stock has a market cap of $9.56 billion, a P/E ratio of 11.64 and a beta of 1.37.
Lennar Corp. (NYSE:LEN) last announced its quarterly earnings data on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.12. The firm earned $2.83 billion during the quarter. Lennar Corp. had a net margin of 8.37% and a return on equity of 14.34%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. On average, equities research analysts anticipate that Lennar Corp. will post $3.82 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ropes Wealth Advisors LLC raised its position in shares of Lennar Corp. by 492.9% in the second quarter. Ropes Wealth Advisors LLC now owns 2,591 shares of the company’s stock worth $119,000 after buying an additional 2,154 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in shares of Lennar Corp. by 160.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,767 shares of the company’s stock worth $128,000 after buying an additional 1,705 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Lennar Corp. by 18.9% in the second quarter. Pacer Advisors Inc. now owns 3,211 shares of the company’s stock worth $148,000 after buying an additional 510 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Lennar Corp. by 1,971.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,432 shares of the company’s stock worth $204,000 after buying an additional 4,218 shares during the last quarter. Finally, Chartist Inc. CA purchased a new position in shares of Lennar Corp. during the second quarter worth $206,000. Institutional investors own 86.39% of the company’s stock.
Lennar Corp. Company Profile
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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