Lennar Corp. (LEN) Given a $52.00 Price Target by Bank of America Corp. Analysts
Lennar Corp. (NYSE:LEN) has been given a $52.00 target price by analysts at Bank of America Corp. in a report released on Tuesday. The brokerage presently has a a “buy” rating on the stock. Bank of America Corp.’s price objective suggests a potential upside of 19.54% from the stock’s current price.
Several other analysts have also recently issued reports on LEN. MKM Partners restated a “neutral” rating and set a $52.00 target price on shares of Lennar Corp. in a research report on Wednesday, June 15th. FBR & Co restated an “outperform” rating and set a $60.00 target price on shares of Lennar Corp. in a research report on Wednesday, June 22nd. Raymond James Financial Inc. upgraded shares of Lennar Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, June 27th. Credit Suisse Group AG reiterated a “hold” rating on shares of Lennar Corp. in a report on Tuesday, June 28th. Finally, Argus began coverage on shares of Lennar Corp. in a report on Tuesday, July 5th. They set a “buy” rating and a $59.00 price target on the stock. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $54.08.
Lennar Corp. (NYSE:LEN) traded up 0.02% during trading on Tuesday, hitting $43.51. 4,453,374 shares of the stock traded hands. The firm has a market cap of $9.54 billion, a PE ratio of 11.62 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 $46.34 and a 200 day moving average price of $46.48.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/lennar-corp-len-given-a-52-00-price-target-by-bank-of-america-corp-analysts.html
Lennar Corp. (NYSE:LEN) last announced its earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.12. The firm had revenue of $2.83 billion for the quarter. Lennar Corp. had a net margin of 8.52% and a return on equity of 14.41%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, equities analysts forecast that Lennar Corp. will post $3.82 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. boosted its position in Lennar Corp. by 6.5% in the second quarter. Macquarie Group Ltd. now owns 118,138 shares of the company’s stock worth $5,446,000 after buying an additional 7,205 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Lennar Corp. during the second quarter worth about $341,000. Kentucky Retirement Systems bought a new position in Lennar Corp. during the second quarter worth about $719,000. Northwestern Mutual Investment Management Company LLC boosted its position in Lennar Corp. by 1.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,996 shares of the company’s stock worth $323,000 after buying an additional 120 shares in the last quarter. Finally, Mason Street Advisors LLC bought a new position in Lennar Corp. during the second quarter worth about $1,139,000. 86.39% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Lennar Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Corp. and related companies with MarketBeat.com's FREE daily email newsletter.