Wedbush Begins Coverage on Lennar Corp. (LEN)
Investment analysts at Wedbush began coverage on shares of Lennar Corp. (NYSE:LEN) in a research report issued to clients and investors on Monday. The brokerage set a “neutral” rating and a $46.00 price target on the stock. Wedbush’s price target indicates a potential upside of 2.02% from the company’s previous close.
Other research analysts have also issued reports about the company. Zacks Investment Research raised Lennar Corp. from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Wednesday, August 24th. Argus initiated coverage on Lennar Corp. in a report on Tuesday, July 5th. They set a “buy” rating and a $59.00 price objective on the stock. Credit Suisse Group AG reissued a “hold” rating on shares of Lennar Corp. in a report on Tuesday, June 28th. MKM Partners set a $52.00 price objective on Lennar Corp. and gave the company a “hold” rating in a report on Wednesday, September 14th. Finally, FBR & Co reissued an “outperform” rating and set a $60.00 price objective on shares of Lennar Corp. in a report on Wednesday, June 22nd. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Lennar Corp. presently has a consensus rating of “Buy” and a consensus target price of $55.10.
Lennar Corp. (NYSE:LEN) opened at 45.09 on Monday. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 12.04 and a beta of 1.37. Lennar Corp. has a 12 month low of $37.14 and a 12 month high of $52.50. The firm has a 50 day moving average price of $46.43 and a 200-day moving average price of $46.49.
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Lennar Corp. (NYSE:LEN) last issued its earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.13. Lennar Corp. had a return on equity of 14.41% and a net margin of 8.52%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.20 billion. On average, equities analysts forecast that Lennar Corp. will post $3.82 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. Ropes Wealth Advisors LLC increased its position in shares of Lennar Corp. by 492.9% in the second quarter. Ropes Wealth Advisors LLC now owns 2,591 shares of the company’s stock valued at $119,000 after buying an additional 2,154 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its position in shares of Lennar Corp. by 160.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,767 shares of the company’s stock valued at $128,000 after buying an additional 1,705 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Lennar Corp. by 18.9% in the second quarter. Pacer Advisors Inc. now owns 3,211 shares of the company’s stock valued at $148,000 after buying an additional 510 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Lennar Corp. by 1,971.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,432 shares of the company’s stock valued at $204,000 after buying an additional 4,218 shares during the last quarter. Finally, Chartist Inc. CA acquired a new position in shares of Lennar Corp. during the second quarter valued at about $206,000. Hedge funds and other institutional investors own 86.40% of the company’s stock.
About Lennar Corp.
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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