A number of other brokerages have also recently commented on LEN. Zacks Investment Research raised shares of Lennar Corp. from a hold rating to a buy rating and set a $54.00 target price for the company in a report on Wednesday, August 24th. Argus assumed coverage on shares of Lennar Corp. in a report on Tuesday, July 5th. They issued a buy rating and a $59.00 target price for the company. FBR & Co reaffirmed an outperform rating and issued a $60.00 target price on shares of Lennar Corp. in a report on Wednesday, June 22nd. Credit Suisse Group AG reaffirmed a hold rating on shares of Lennar Corp. in a report on Tuesday, June 28th. Finally, Wedbush began coverage on shares of Lennar Corp. in a report on Monday, September 19th. They issued a neutral rating and a $46.00 target price for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $54.03.
Lennar Corp. (NYSE:LEN) opened at 42.95 on Thursday. Lennar Corp. has a 52 week low of $37.14 and a 52 week high of $52.50. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 11.30 and a beta of 1.37. The company has a 50-day moving average of $46.03 and a 200-day moving average of $46.43.
Lennar Corp. (NYSE:LEN) last announced its earnings results on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. Lennar Corp. had a net margin of 8.52% and a return on equity of 14.41%. The business earned $2.83 billion during the quarter. During the same period in the previous year, the company posted $0.96 earnings per share. Lennar Corp.’s quarterly revenue was up 13.7% on a year-over-year basis. Analysts anticipate that Lennar Corp. will post $3.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Wednesday, October 5th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Monday, October 3rd. Lennar Corp.’s payout ratio is 4.21%.
Several institutional investors have recently made changes to their positions in the stock. Ropes Wealth Advisors LLC increased its position in 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 in the last quarter. Mizuho Asset Management Co. Ltd. increased its position 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 worth $128,000 after buying an additional 1,705 shares in the last quarter. Pacer Advisors Inc. increased its position in 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 in the last quarter. Tower Research Capital LLC TRC increased its position 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 worth $204,000 after buying an additional 4,218 shares in the last quarter. Finally, Chartist Inc. CA bought a new position in Lennar Corp. during the second quarter worth $206,000. 86.39% of the stock is currently owned by institutional investors and hedge funds.
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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