Lennar Corp. (LEN) Given New $55.00 Price Target at Royal Bank Of Canada
Lennar Corp. (NYSE:LEN) had its price objective dropped by investment analysts at Royal Bank Of Canada from $64.00 to $55.00 in a report issued on Wednesday. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 26.44% from the company’s previous close.
Several other research firms have also recently issued reports on LEN. Argus initiated coverage on Lennar Corp. in a research note on Tuesday, July 5th. They set a “buy” rating and a $59.00 target price on the stock. Credit Suisse Group AG reissued a “hold” rating on shares of Lennar Corp. in a research note on Tuesday, June 28th. MKM Partners set a $52.00 target price on Lennar Corp. and gave the company a “hold” rating in a research note on Wednesday, September 14th. Zacks Investment Research cut Lennar Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Finally, FBR & Co reissued an “outperform” rating and set a $60.00 target price on shares of Lennar Corp. in a research note on Wednesday, June 22nd. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Lennar Corp. has a consensus rating of “Buy” and a consensus price target of $54.38.
Shares of Lennar Corp. (NYSE:LEN) opened at 43.50 on Wednesday. The company has a 50-day moving average price of $46.34 and a 200-day moving average price of $46.48. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 11.61 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 announced its quarterly earnings results on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.13. The business had revenue of $2.83 billion for the quarter. Lennar Corp. had a return on equity of 14.41% and a net margin of 8.52%. Lennar Corp.’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. On average, equities analysts anticipate that Lennar Corp. will post $3.82 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC boosted 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 worth $119,000 after buying an additional 2,154 shares during the period. Mizuho Asset Management Co. Ltd. boosted 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 worth $128,000 after buying an additional 1,705 shares during the period. Pacer Advisors Inc. boosted 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 worth $148,000 after buying an additional 510 shares during the period. Tower Research Capital LLC TRC boosted 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 worth $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 worth approximately $206,000. Institutional investors own 86.39% of the company’s stock.
About Lennar Corp.
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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