Lennar Receives Buy Rating from ISI Group (LEN)
The analysts wrote, “Last quarter LEN beat consensus on virtually every metric, conducted a solid conference call, yet the equity was hit hard on its earnings day. The point of rehashing that event is that investors have very high expectations for this industry—expectations that may be a bit irrational. We believe there is a fair amount of fast money sitting on the short side of this name, looking for a repeat of last quarter. We expect a very solid result again this quarter, yet we do believe LEN needs a positive surprise in either Orders or margin—preferably margin—to have the equity pop usefully. If we do see some strong surprises from this release, expect short-covering, boosting the performance. Conversely, if there is some weakness in the numbers, we may see a piling-on effect.Regardless, we do forecast another solid quarter, with strong management commentary as well.”
Lennar (NYSE: LEN) traded down 0.45% on Monday, hitting $41.58. Lennar has a 1-year low of $23.48 and a 1-year high of $43.22. The stock’s 50-day moving average is currently $40.35. The company has a market cap of $7.982 billion and a price-to-earnings ratio of 13.42.
Lennar (NYSE: LEN) last posted its quarterly earnings results on Tuesday, January 15th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.13. The company had revenue of $135.00 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the company posted $0.16 earnings per share. Lennar’s revenue was up 41.7% compared to the same quarter last year. On average, analysts predict that Lennar will post $1.63 earnings per share for the current fiscal year.
LEN has been the subject of a number of other recent research reports. Analysts at Sterne Agee initiated coverage on shares of Lennar in a research note to investors on Wednesday, March 13th. They set a “neutral” rating and a $45.00 price target on the stock. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Lennar in a research note to investors on Friday, March 8th. They now have a $48.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Lennar in a research note to investors on Thursday, February 28th.
Lennar Corporation is a homebuilder and a provider of financial services. The Company, through its Rialto Investments (Rialto) segment, is an investor in distressed real estate assets.
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