Lennar Given New $47.00 Price Target at RBC Capital (LEN)
Research analysts at RBC Capital dropped their price target on shares of Lennar (NYSE:LEN) from $50.00 to $47.00 in a report released on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target would indicate a potential upside of 13.01% from the company’s current price.
Shares of Lennar (NYSE:LEN) traded up 0.65% during mid-day trading on Friday, hitting $41.59. The stock had a trading volume of 3,425,946 shares. Lennar has a 52 week low of $30.90 and a 52 week high of $44.40. The stock’s 50-day moving average is $40.31 and its 200-day moving average is $39.67. The company has a market cap of $8.502 billion and a P/E ratio of 18.53.
Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, June 26th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.10. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. Analysts expect that Lennar will post $2.49 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Lennar in a research note on Friday. They now have a $43.00 price target on the stock. Separately, analysts at MKM Partners raised their price target on shares of Lennar from $42.00 to $45.00 in a research note on Friday. They now have a “neutral” rating on the stock. Finally, analysts at Barclays reiterated an “outperform” rating on shares of Lennar in a research note on Friday. They now have a $50.00 price target on the stock, up previously from $46.00. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $44.31.
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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