Lennar Corp. (LEN) Given New $55.00 Price Target at Keefe, Bruyette & Woods
Lennar Corp. (NYSE:LEN) had its target price lowered by Keefe, Bruyette & Woods from $57.00 to $55.00 in a report released on Wednesday morning. The firm currently has an outperform rating on the stock.
Other research analysts also recently issued reports about the company. Citigroup Inc. reduced their target price on Lennar Corp. from $50.00 to $48.00 and set a neutral rating for the company in a research note on Wednesday. RBC Capital Markets reiterated a buy rating and set a $55.00 target price on shares of Lennar Corp. in a research note on Wednesday. Royal Bank Of Canada reduced their target price on Lennar Corp. from $64.00 to $55.00 and set an outperform rating for the company in a research note on Wednesday. Raymond James Financial Inc. upgraded Lennar Corp. from a market perform rating to an outperform rating in a research note on Monday, June 27th. Finally, FBR & Co reiterated an outperform rating and set a $60.00 target price on shares of Lennar Corp. in a research note on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $54.08.
Lennar Corp. (NYSE:LEN) traded up 1.945% on Wednesday, reaching $44.295. The company’s stock had a trading volume of 1,102,258 shares. Lennar Corp. has a 12 month low of $37.14 and a 12 month high of $52.50. The company has a 50-day moving average price of $46.28 and a 200 day moving average price of $46.46. The company has a market cap of $9.71 billion, a P/E ratio of 11.825 and a beta of 1.37.
Lennar Corp. (NYSE:LEN) last posted its quarterly earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share 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 14.34% and a net margin of 8.37%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. On average, equities research analysts anticipate that Lennar Corp. will post $3.82 EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. Ropes Wealth Advisors LLC raised its stake in shares of 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. raised its stake in shares of 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. raised its stake in shares of 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 raised its stake in shares of 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 purchased a new stake in shares of Lennar Corp. during the second quarter worth $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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