Lennar Corp. Upgraded to Neutral at Ned Davis Research (LEN)
Lennar Corp. (NYSE:LEN) was upgraded by Ned Davis Research from a “sell” rating to a “neutral” rating in a research note issued on Monday, Stock Ratings Network reports.
A number of other analysts have also recently weighed in on LEN. Analysts at Goldman Sachs upgraded shares of Lennar Corp. from a “neutral” rating to a “conviction-buy” rating in a research note to investors on Thursday. They now have a $48.00 price target on the stock, up previously from $38.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Lennar Corp. in a research note to investors on Wednesday, February 5th. They now have a $42.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $43.17.
Shares of Lennar Corp. (NYSE:LEN) traded down 2.11% during mid-day trading on Monday, hitting $40.89. 5,156,549 shares of the company’s stock traded hands. Lennar Corp. has a 1-year low of $30.90 and a 1-year high of $44.40. The stock has a 50-day moving average of $38.80 and a 200-day moving average of $35.44. The company has a market cap of $8.358 billion and a price-to-earnings ratio of 19.46.
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. Analysts expect that Lennar Corp. will post $2.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, February 13th. Investors of record on Thursday, January 30th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Tuesday, January 28th.
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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