Lennar Corp. (LEN) Trading Down 4.8%
Lennar Corp. (NYSE:LEN) shares fell 4.8% during mid-day trading on Tuesday . The company traded as low as $42.81 and last traded at $42.92, with a volume of 7,179,060 shares trading hands. The stock had previously closed at $45.09.
A number of brokerages recently issued reports on LEN. Argus began coverage on shares of Lennar Corp. in a research report on Tuesday, July 5th. They set a “buy” rating and a $59.00 price target for the company. Credit Suisse Group AG reissued a “hold” rating on shares of Lennar Corp. in a research report on Tuesday, June 28th. MKM Partners set a $52.00 price target on shares of Lennar Corp. and gave the company a “hold” rating in a research report on Wednesday, September 14th. Zacks Investment Research lowered shares of Lennar Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Finally, FBR & Co restated an “outperform” rating and set a $60.00 price objective on shares of Lennar Corp. in a research note on Wednesday, June 22nd. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.53.
The firm has a market capitalization of $9.53 billion, a P/E ratio of 11.61 and a beta of 1.37. The stock’s 50 day moving average is $46.43 and its 200 day moving average is $46.49.
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Lennar Corp. (NYSE:LEN) last released its quarterly earnings data on Tuesday, September 20th. The company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.13. Lennar Corp. had a net margin of 8.52% and a return on equity of 14.41%. The company earned $2.83 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. Equities research analysts predict that Lennar Corp. will post $3.82 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Ropes Wealth Advisors LLC raised its stake in 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. raised its stake in 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. raised its stake in 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 raised its stake in 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 purchased a new stake in Lennar Corp. during the second quarter valued at approximately $206,000. 86.40% of the stock is owned by institutional investors and hedge funds.
Lennar Corp. Company Profile
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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