Lennar Rating Reiterated by Zacks (LEN)
Lennar (NYSE:LEN)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Thursday. They currently have a $43.00 price target on the stock. Zacks‘s target price points to a potential upside of 5.78% from the company’s current price.
Zacks’ analyst wrote, “Lennar reported strong second-quarter 2014 results beating the Zacks Consensus Estimate for both earnings and revenues. Earnings of $0.61 per share increased 41.9% year over year driven by strong pricing power and solid margins. Total revenues rose 27.3% year over year as strong pricing made up for softer orders. Overall, we believe that the company is performing better than its peers due to its solid land portfolio, better pricing power and consistently strong profit margins. Moreover, Lennar’s ancillary platforms – Rialto, Multi-Family, FivePoint and Financial Services – are evolving and expected to contribute meaningfully from 2015/2016. However, supply shortages and rising costs of building materials, labor and land raises concerns about long-term stability in the housing market.”
Several other analysts have also recently commented on the stock. Analysts at RBC Capital cut their price target on shares of Lennar from $50.00 to $47.00 in a research note on Friday, June 27th. They now have an “outperform” rating 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, June 27th. 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, June 27th. They now have a $50.00 price target on the stock, up previously from $46.00. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Lennar has a consensus rating of “Buy” and a consensus price target of $43.96.
Shares of Lennar (NYSE:LEN) traded down 0.78% on Thursday, hitting $40.65. 1,981,241 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 $40.97 and a 200-day moving average of $40.02. The company has a market cap of $8.310 billion and a price-to-earnings ratio of 18.42.
Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, June 26th. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 27.5% on a year-over-year basis. On average, analysts predict that Lennar will post $2.56 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 24th. Investors of record on Thursday, July 10th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Tuesday, July 8th.
Lennar Corporation is a homebuilder and a provider of financial services and through its Rialto Investments (NYSE:LEN) segment.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.