Lennar Corp. Rating Reiterated by Zacks (LEN)
Lennar Corp. (NYSE:LEN)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Wednesday, American Banking and Market News reports. They currently have a $42.00 target price on the stock. Zacks‘ target price points to a potential upside of 7.09% from the company’s current price.
Zacks‘ analyst wrote, “Lennar reported strong fourth-quarter 2013 results beating the Zacks Consensus Estimate for both earnings and revenues. Adjusted earnings of $0.73 per share grew 30.4% year over year driven by growth in both revenues and margins. Though homebuilding revenues grew around 50% in the quarter, net order were soft as sales pace moderated due to rising interest rates and home prices. Management is optimistic that the moderating sales pace is only temporary and is confident demand will improve in future quarters as buyers adjust to the rising interest rates, credit standards ease and supply remains limited. However, we prefer to remain on the sidelines until we see a rebound in order growth. Moreover, 2014 guidance implies flattish gross margins which raise concerns. “
Shares of Lennar Corp. (NYSE:LEN) traded down 0.40% during mid-day trading on Wednesday, hitting $39.69. 3,339,737 shares of the company’s stock traded hands. Lennar Corp. has a one year low of $30.90 and a one year high of $44.40. The stock has a 50-day moving average of $38.39 and a 200-day moving average of $35.32. The company has a market cap of $8.113 billion and a price-to-earnings ratio of 18.56.
Lennar Corp. (NYSE:LEN) last issued its quarterly earnings data on Wednesday, December 18th. The company reported $0.73 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.62 by $0.11. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 41.8% on a year-over-year basis. On average, analysts predict that Lennar Corp. will post $2.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 13th. Investors of record on Thursday, January 30th will be given a dividend of 0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Tuesday, January 28th.
LEN has been the subject of a number of other recent research reports. Analysts at MKM Partners raised their price target on shares of Lennar Corp. from $38.00 to $40.00 in a research note to investors on Thursday, January 9th. They now have a “neutral” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Lennar Corp. from $40.00 to $43.00 in a research note to investors on Friday, December 20th. They now have an “outperform” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Lennar Corp. from $45.00 to $47.00 in a research note to investors on Thursday, December 19th. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $42.37.
Lennar Corporation is a homebuilder and a provider of financial services and through its Rialto Investments (NYSE:LEN) segment, an investor, and manager of funds that invest in real estate assets.
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