Stock Traders Purchase Large Volume of Lennar Put Options (LEN)
Shares of Lennar (NYSE:LEN) were the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 2,429 put options on the stock, Analyst Ratings Network reports. This represents an increase of 127% compared to the typical daily volume of 1,069 put options.
LEN has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Lennar in a research note on Friday, May 2nd. They now have a $41.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Lennar from $37.00 to $46.00 in a research note on Tuesday, March 25th. They now have an “overweight” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Lennar from $45.00 to $48.00 in a research note on Tuesday, March 25th. They now have an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Lennar has an average rating of “Buy” and an average price target of $43.85.
Shares of Lennar (NYSE:LEN) traded down 1.75% during mid-day trading on Wednesday, hitting $40.94. 1,975,159 shares of the company’s stock traded hands. Lennar has a 52 week low of $30.90 and a 52 week high of $44.40. The stock has a 50-day moving average of $39.5 and a 200-day moving average of $39.20. The company has a market cap of $8.369 billion and a P/E ratio of 18.69.
Lennar (NYSE:LEN) last released its earnings data on Thursday, March 20th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.07. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 37.7% on a year-over-year basis. Analysts expect that Lennar will post $2.50 EPS for the current fiscal year.
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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