Lennar Corp. (LEN) Stock Price Up 3.3%
Lennar Corp. (NYSE:LEN)’s share price rose 3.3% during mid-day trading on Tuesday . The company traded as high as $48.44 and last traded at $48.11, with a volume of 1,730,263 shares. The stock had previously closed at $46.56.
LEN has been the topic of a number of research reports. Argus initiated coverage on shares of Lennar Corp. in a research report on Tuesday, July 5th. They set a “buy” rating and a $59.00 target price on the stock. Vetr raised shares of Lennar Corp. from a “buy” rating to a “strong-buy” rating and set a $53.50 target price on the stock in a research report on Monday, April 25th. FBR & Co reaffirmed an “outperform” rating and set a $60.00 target price on shares of Lennar Corp. in a research report on Wednesday, June 22nd. Raymond James Financial Inc. raised shares of Lennar Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, June 27th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Lennar Corp. in a research report on Tuesday, June 28th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Lennar Corp. presently has a consensus rating of “Buy” and an average target price of $55.37.
The company’s 50 day moving average is $47.59 and its 200 day moving average is $45.75. The stock has a market cap of $10.51 billion and a P/E ratio of 12.80.
Lennar Corp. (NYSE:LEN) last posted its quarterly earnings results on Tuesday, June 21st. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The business earned $2.75 million during the quarter. During the same quarter in the previous year, the business posted $0.79 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. Analysts expect that Lennar Corp. will post $3.82 earnings per share for the current fiscal year.
A number of large investors have bought and sold shares of LEN. I.G. Investment Management LTD. boosted its stake in Lennar Corp. by 0.9% in the fourth quarter. I.G. Investment Management LTD. now owns 330,171 shares of the company’s stock worth $16,149,000 after buying an additional 2,988 shares during the period. Airain ltd acquired a new stake in Lennar Corp. during the fourth quarter worth $2,746,000. Marshall Wace LLP acquired a new stake in Lennar Corp. during the fourth quarter worth $2,006,000. Utah Retirement Systems boosted its stake in Lennar Corp. by 0.3% in the fourth quarter. Utah Retirement Systems now owns 31,143 shares of the company’s stock worth $1,524,000 after buying an additional 100 shares during the period. Finally, Eaton Vance Management boosted its stake in Lennar Corp. by 54.8% in the fourth quarter. Eaton Vance Management now owns 28,866 shares of the company’s stock worth $1,412,000 after buying an additional 10,224 shares during the period.
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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