Lennar Corp. (LEN) PT Set at $51.00 by MKM Partners
Lennar Corp. (NYSE:LEN) has been given a $51.00 price target by research analysts at MKM Partners in a note issued to investors on Thursday. The firm presently has a a “hold” rating on the stock. MKM Partners’ price objective suggests a potential upside of 16.97% from the company’s previous close.
Several other research firms have also 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 research note on Wednesday, August 24th. Argus began coverage on shares of Lennar Corp. in a research note on Tuesday, July 5th. They set a “buy” rating and a $59.00 target price for the company. 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. Credit Suisse Group AG reissued a “hold” rating on shares of Lennar Corp. in a research note on Tuesday, June 28th. Finally, Wedbush initiated coverage on shares of Lennar Corp. in a report on Monday. 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 assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $54.03.
Shares of Lennar Corp. (NYSE:LEN) traded down 0.32% during trading on Thursday, hitting $43.46. 1,011,918 shares of the company’s stock were exchanged. Lennar Corp. has a 1-year low of $37.14 and a 1-year high of $52.50. The firm has a market capitalization of $9.52 billion, a PE ratio of 11.43 and a beta of 1.37. The stock’s 50 day moving average is $46.22 and its 200 day moving average is $46.44.
Lennar Corp. (NYSE:LEN) last released its earnings results on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.89 by $0.12. Lennar Corp. had a net margin of 8.37% and a return on equity of 14.34%. The business earned $2.83 billion during the quarter. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, equities research analysts forecast 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 issued 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 of this dividend is Monday, October 3rd. Lennar Corp.’s dividend payout ratio is currently 4.21%.
A number of hedge funds have recently modified their holdings of LEN. Exxonmobil Investment Management Inc. TX increased its stake in shares of Lennar Corp. by 8.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 47,475 shares of the company’s stock worth $2,189,000 after buying an additional 3,622 shares during the period. IBM Retirement Fund increased its stake in shares of Lennar Corp. by 6.5% in the second quarter. IBM Retirement Fund now owns 19,204 shares of the company’s stock worth $885,000 after buying an additional 1,169 shares during the period. Oakmont Corp increased its stake in shares of Lennar Corp. by 18.1% in the second quarter. Oakmont Corp now owns 610,270 shares of the company’s stock worth $28,133,000 after buying an additional 93,570 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Lennar Corp. by 166.5% in the first quarter. Canada Pension Plan Investment Board now owns 10,393 shares of the company’s stock worth $503,000 after buying an additional 6,493 shares during the period. Finally, Wesbanco Bank Inc. increased its stake in shares of Lennar Corp. by 77.9% in the second quarter. Wesbanco Bank Inc. now owns 143,977 shares of the company’s stock worth $6,638,000 after buying an additional 63,025 shares during the period. 86.39% of the stock is owned by hedge funds and other institutional investors.
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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