Royal Bank of Canada Reiterates Outperform Rating for Lennar Co. (LEN)
Lennar Co. (NYSE:LEN)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday. They currently have a $60.00 target price on the stock, up from their prior target price of $53.00. Royal Bank of Canada’s target price would suggest a potential upside of 17.03% from the stock’s current price.
LEN has been the subject of several other research reports. Zacks Investment Research raised Lennar from a “sell” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Wednesday, December 21st. Citigroup Inc began coverage on Lennar in a report on Tuesday, February 14th. They issued a “neutral” rating and a $52.00 price objective for the company. Evercore ISI reissued a “buy” rating and issued a $55.00 price objective on shares of Lennar in a report on Tuesday, December 13th. Barclays PLC began coverage on Lennar in a report on Thursday, January 5th. They issued an “overweight” rating and a $50.00 price objective for the company. Finally, MKM Partners reissued a “neutral” rating on shares of Lennar in a report on Friday, December 23rd. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $53.92.
Lennar (NYSE:LEN) traded down 0.62% during midday trading on Monday, hitting $50.95. The stock had a trading volume of 576,911 shares. The firm has a 50-day moving average of $48.41 and a 200-day moving average of $44.60. The company has a market cap of $11.95 billion, a PE ratio of 12.95 and a beta of 1.27. Lennar has a 12-month low of $39.68 and a 12-month high of $53.79.
Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, March 21st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.03. The business earned $2.34 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Lennar had a return on equity of 13.80% and a net margin of 8.33%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Equities research analysts forecast that Lennar will post $3.82 EPS for the current year.
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A number of large investors have recently bought and sold shares of LEN. Bronfman E.L. Rothschild L.P. raised its stake in Lennar by 3.9% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 2,837 shares of the company’s stock valued at $120,000 after buying an additional 106 shares during the period. Cim Investment Mangement Inc. raised its stake in Lennar by 1.2% in the fourth quarter. Cim Investment Mangement Inc. now owns 14,402 shares of the company’s stock valued at $618,000 after buying an additional 164 shares during the period. Trust Co raised its stake in Lennar by 3.0% in the second quarter. Trust Co now owns 7,715 shares of the company’s stock valued at $356,000 after buying an additional 225 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Lennar by 5.1% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 4,701 shares of the company’s stock valued at $199,000 after buying an additional 227 shares during the period. Finally, Zacks Investment Management raised its stake in Lennar by 2.1% in the third quarter. Zacks Investment Management now owns 13,012 shares of the company’s stock valued at $551,000 after buying an additional 262 shares during the period. Institutional investors own 79.04% of the company’s stock.
Lennar Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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