Lennar Corp. (LEN) Trading Down 2.9%
Lennar Corp. (NYSE:LEN) was down 2.9% during mid-day trading on Friday . The stock traded as low as $46.62 and last traded at $46.88, with a volume of 1,929,854 shares traded. The stock had previously closed at $48.28.
Several equities research analysts have issued reports on LEN shares. Argus started coverage on shares of Lennar Corp. in a research report on Tuesday, July 5th. They set a “buy” rating and a $59.00 price objective for the company. Vetr upgraded shares of Lennar Corp. from a “buy” rating to a “strong-buy” rating and set a $53.50 price objective for the company in a research report on Monday, April 25th. FBR & Co restated an “outperform” rating and set a $60.00 price objective on shares of Lennar Corp. in a research 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 research report on Monday, June 27th. Finally, Barclays PLC raised their price objective on shares of Lennar Corp. from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, April 7th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $55.37.
The firm has a 50 day moving average of $47.23 and a 200 day moving average of $45.11. The firm has a market cap of $10.26 billion and a P/E ratio of 12.49.
Lennar Corp. (NYSE:LEN) last announced its quarterly earnings results on Tuesday, June 21st. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.08. During the same quarter in the prior year, the firm earned $0.79 EPS. The business had revenue of $2.75 million for the quarter. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities analysts forecast that Lennar Corp. will post $3.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Investors of record on Friday, July 8th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Wednesday, July 6th.
Several hedge funds have made changes to their positions in the stock. Eagle Asset Management boosted its stake in shares of Lennar Corp. by 205.5% in the third quarter. Eagle Asset Management now owns 800,324 shares of the company’s stock worth $38,518,000 after buying an additional 538,317 shares during the last quarter. UBS Oconnor LLC acquired a new stake in shares of Lennar Corp. during the fourth quarter worth approximately $5,618,000. Airain ltd acquired a new stake in shares of Lennar Corp. during the fourth quarter worth approximately $2,746,000. Marshall Wace LLP acquired a new stake in shares of Lennar Corp. during the fourth quarter worth approximately $2,006,000. Finally, Bank of Montreal Can boosted its stake in shares of Lennar Corp. by 13.2% in the fourth quarter. Bank of Montreal Can now owns 150,955 shares of the company’s stock worth $7,384,000 after buying an additional 17,592 shares during the last quarter.
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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