A number of other brokerages have also recently issued reports on LEN. Zacks Investment Research upgraded Lennar Corp. from a hold rating to a buy rating and set a $54.00 target price on the stock in a report on Wednesday, August 24th. Argus initiated coverage on Lennar Corp. in a research report on Tuesday, July 5th. They set a buy rating and a $59.00 price target on the stock. MKM Partners reaffirmed a hold rating on shares of Lennar Corp. in a research report on Wednesday, June 22nd. Credit Suisse Group AG reaffirmed a hold rating on shares of Lennar Corp. in a research report on Tuesday, June 28th. Finally, Wedbush initiated coverage on Lennar Corp. in a research report on Monday, September 19th. They set a neutral rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Lennar Corp. has an average rating of Buy and a consensus target price of $54.03.
Shares of Lennar Corp. (NYSE:LEN) opened at 42.95 on Wednesday. The company has a 50 day moving average price of $46.03 and a 200 day moving average price of $46.43. The company has a market cap of $9.41 billion, a PE ratio of 11.30 and a beta of 1.37. Lennar Corp. has a 52 week low of $37.14 and a 52 week high of $52.50.
Lennar Corp. (NYSE:LEN) last issued its earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.12. Lennar Corp. had a return on equity of 14.41% and a net margin of 8.52%. The firm had revenue of $2.83 billion for the quarter. During the same quarter last year, the business posted $0.96 EPS. Lennar Corp.’s quarterly revenue was up 13.7% on a year-over-year basis. On average, equities analysts expect that Lennar Corp. will post $3.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.16 annualized dividend and a dividend yield of 0.37%. Lennar Corp.’s dividend payout ratio is currently 4.21%.
A number of hedge funds have recently added to or reduced their stakes in LEN. Ropes Wealth Advisors LLC increased its stake in Lennar Corp. by 492.9% in the second quarter. Ropes Wealth Advisors LLC now owns 2,591 shares of the company’s stock valued at $119,000 after buying an additional 2,154 shares during the period. Mizuho Asset Management Co. Ltd. increased its stake in Lennar Corp. by 160.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,767 shares of the company’s stock valued at $128,000 after buying an additional 1,705 shares during the period. Pacer Advisors Inc. increased its stake in Lennar Corp. by 18.9% in the second quarter. Pacer Advisors Inc. now owns 3,211 shares of the company’s stock valued at $148,000 after buying an additional 510 shares during the period. Tower Research Capital LLC TRC increased its stake in 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 valued at $204,000 after buying an additional 4,218 shares during the period. Finally, Chartist Inc. CA purchased a new stake in Lennar Corp. during the second quarter valued at about $206,000. 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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