Lennar Corp. (NYSE:LEN) has been assigned a $52.00 price target by investment analysts at Bank of America Corp. in a research note issued on Tuesday. The brokerage presently has a a “buy” rating on the stock. Bank of America Corp.’s price objective indicates a potential upside of 19.68% from the company’s current price.
A number of other equities analysts also recently issued reports on the company. Argus started coverage on Lennar Corp. in a report on Tuesday, July 5th. They issued a “buy” rating and a $59.00 price target for the company. Zacks Investment Research downgraded Lennar Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 29th. Wedbush started coverage on Lennar Corp. in a report on Monday. They issued a “neutral” rating and a $46.00 price target for the company. FBR & Co reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Lennar Corp. in a report on Wednesday, June 22nd. Finally, Keefe, Bruyette & Woods decreased their price objective on Lennar Corp. from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $54.08.
Lennar Corp. (NYSE:LEN) opened at 43.45 on Tuesday. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 11.60 and a beta of 1.37. Lennar Corp. has a 12-month low of $37.14 and a 12-month high of $52.50. The stock’s 50 day moving average is $46.28 and its 200 day moving average is $46.46.
Lennar Corp. (NYSE:LEN) last announced its quarterly earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.12. The firm earned $2.83 billion during the quarter. Lennar Corp. had a return on equity of 14.41% and a net margin of 8.52%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. Equities research analysts forecast that Lennar Corp. will post $3.82 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Chevy Chase Trust Holdings Inc. boosted its position in shares of Lennar Corp. by 5.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 152,404 shares of the company’s stock worth $7,371,000 after buying an additional 7,382 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Lennar Corp. by 18.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,073 shares of the company’s stock worth $1,986,000 after buying an additional 6,298 shares during the last quarter. Exxonmobil Investment Management Inc. TX raised its stake in Lennar Corp. by 9.3% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 43,853 shares of the company’s stock worth $2,121,000 after buying an additional 3,722 shares during the last quarter. Aperio Group LLC raised its stake in Lennar Corp. by 7.1% in the first quarter. Aperio Group LLC now owns 111,846 shares of the company’s stock worth $5,409,000 after buying an additional 7,462 shares during the last quarter. Finally, Ngam Advisors L.P. raised its stake in Lennar Corp. by 52.2% in the first quarter. Ngam Advisors L.P. now owns 123,554 shares of the company’s stock worth $5,975,000 after buying an additional 42,377 shares during the last quarter. Institutional investors and hedge funds 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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