Lennar Stock Rating Reaffirmed by Sterne Agee (LEN)
The analysts wrote, “We are lowering our FY13E EPS estimates to $1.38 from $1.92 which reflects a FY13E tax provision of 39% versus our prior 15.2% assumption. We view the shares as fairly valued at current levels. […] Due to our revised tax assumptions, we expect F1Q13 EPS of $0.09 versus $0.16 previously and $0.08 in F1Q12. The mean estimate for F1Q13 according to Factset is $0.16 based on 19 analysts with an EPS range of $0.04 to $0.27. We anticipate this range includes a mix of taxed and untaxed assumptions, and we would encourage clients to judge the quarter on revenues rather than EPS.”
Other equities research analysts have also recently issued reports about the stock. Analysts at ISI Group reiterated a “buy” rating on shares of Lennar in a research note to investors on Monday. They now have 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.
Shares of Lennar (NYSE: LEN) traded down 0.45% during mid-day trading on Monday, hitting $41.58. Lennar has a 52 week low of $23.48 and a 52 week 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 P/E ratio of 13.42.
Lennar (NYSE: LEN) last issued its quarterly earnings data on Tuesday, January 15th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters 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 in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 41.7% on a year-over-year basis. Analysts expect that Lennar will post $1.63 EPS for the current fiscal year.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.