Lennar Corp. (LEN) Shares Up 3.3%
Shares of Lennar Corp. (NYSE:LEN) shot up 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 subject of several research reports. MKM Partners reaffirmed a “neutral” rating and set a $52.00 price target on shares of Lennar Corp. in a research note on Wednesday, June 15th. Zacks Investment Research raised shares of Lennar Corp. from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Wednesday. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Lennar Corp. in a research note on Tuesday, June 28th. Raymond James Financial Inc. raised shares of Lennar Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, June 27th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $60.00 price target on shares of Lennar Corp. in a research note on Wednesday, June 22nd. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.10.
The stock has a market cap of $10.38 billion and a PE ratio of 12.64. The firm has a 50-day moving average of $47.63 and a 200-day moving average of $45.82.
Lennar Corp. (NYSE:LEN) last released its quarterly earnings data on Tuesday, June 21st. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.08. The firm had revenue of $2.75 million for the quarter. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. On average, equities analysts forecast that Lennar Corp. will post $3.82 earnings per share for the current fiscal year.
Other large investors recently made changes to their positions in the company. Utah Retirement Systems increased its stake in shares of Lennar Corp. by 0.3% in the fourth quarter. Utah Retirement Systems now owns 31,143 shares of the company’s stock valued at $1,524,000 after buying an additional 100 shares during the period. Airain ltd bought a new stake in shares of Lennar Corp. during the fourth quarter valued at about $2,746,000. Marshall Wace LLP bought a new stake in shares of Lennar Corp. during the fourth quarter valued at about $2,006,000. Finally, Eaton Vance Management increased its stake in shares of Lennar Corp. by 54.8% in the fourth quarter. Eaton Vance Management now owns 28,866 shares of the company’s stock valued at $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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