Lennar Corp. (LEN) Given “Buy” Rating at RBC Capital Markets
Lennar Corp. (NYSE:LEN)‘s stock had its “buy” rating reaffirmed by analysts at RBC Capital Markets in a research note issued on Wednesday. They presently have a $55.00 price target on the stock. RBC Capital Markets’ target price would indicate a potential upside of 26.44% from the stock’s previous close.
A number of other research analysts have also recently issued reports on LEN. Royal Bank Of Canada decreased their target price on Lennar Corp. from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday. Citigroup Inc. decreased their target price on Lennar Corp. from $50.00 to $48.00 and set a “neutral” rating on the stock in a research report on Wednesday. MKM Partners reiterated a “neutral” rating and issued a $52.00 target price on shares of Lennar Corp. in a research report on Wednesday, June 15th. Credit Suisse Group AG reiterated a “hold” rating on shares of Lennar Corp. in a research report on Tuesday, June 28th. Finally, Raymond James Financial Inc. upgraded Lennar Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, June 27th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Lennar Corp. currently has a consensus rating of “Buy” and a consensus price target of $54.42.
Shares of Lennar Corp. (NYSE:LEN) opened at 43.50 on Wednesday. Lennar Corp. has a 12 month low of $37.14 and a 12 month high of $52.50. The firm has a market capitalization of $9.53 billion, a P/E ratio of 11.61 and a beta of 1.37. The company has a 50 day moving average of $46.34 and a 200-day moving average of $46.48.
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Lennar Corp. (NYSE:LEN) last released its earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $2.83 billion for the quarter. During the same quarter in the prior year, the firm earned $0.96 EPS. The business’s revenue was up 13.7% on a year-over-year basis. Analysts predict that Lennar Corp. will post $3.82 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its stake in Lennar Corp. by 6.5% in the second quarter. Macquarie Group Ltd. now owns 118,138 shares of the company’s stock valued at $5,446,000 after buying an additional 7,205 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Lennar Corp. during the second quarter valued at approximately $341,000. Kentucky Retirement Systems purchased a new stake in Lennar Corp. during the second quarter valued at approximately $719,000. Northwestern Mutual Investment Management Company LLC increased its stake 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 valued at $323,000 after buying an additional 120 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in Lennar Corp. during the second quarter valued at approximately $1,139,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.
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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