Wells Fargo & Co. Begins Coverage on Lennar Corp. (LEN)
A number of other research analysts have also weighed in on LEN. Royal Bank Of Canada cut their target price on shares of Lennar Corp. from $64.00 to $55.00 and set an outperform rating for the company in a report on Wednesday, September 21st. MKM Partners reissued a neutral rating and issued a $52.00 target price on shares of Lennar Corp. in a report on Wednesday, June 15th. Credit Suisse Group AG reissued a hold rating on shares of Lennar Corp. in a report on Tuesday, June 28th. FBR & Co reissued an outperform rating and issued a $60.00 target price on shares of Lennar Corp. in a report on Wednesday, September 21st. Finally, RBC Capital Markets reissued a buy rating and issued a $55.00 target price (down from $64.00) on shares of Lennar Corp. in a report on Wednesday, September 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $54.03.
Lennar Corp. (NYSE:LEN) opened at 42.10 on Wednesday. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 11.08 and a beta of 1.41. The company has a 50 day moving average of $45.42 and a 200 day moving average of $46.29. Lennar Corp. has a 52 week low of $37.14 and a 52 week high of $52.50.
Lennar Corp. (NYSE:LEN) last posted its earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. Lennar Corp. had a net margin of 8.37% and a return on equity of 14.34%. The firm earned $2.83 billion during the quarter. During the same period last year, the business posted $0.96 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts forecast that Lennar Corp. will post $3.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 0.38%. Lennar Corp.’s dividend payout ratio is presently 4.21%.
A number of institutional investors have recently made changes to their positions in LEN. Ropes Wealth Advisors LLC increased its position 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. increased its position 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. increased its position 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 increased its position 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 position in shares of Lennar Corp. during the second quarter worth approximately $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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