Lennar Corp. (LEN) Price Target Cut to $48.00
Lennar Corp. (NYSE:LEN) had its target price lowered by analysts at Citigroup Inc. from $50.00 to $48.00 in a research report issued to clients and investors on Wednesday. The firm currently has a “neutral” rating on the stock. Citigroup Inc.’s target price indicates a potential upside of 10.47% from the stock’s previous close.
A number of other analysts have also weighed in on LEN. MKM Partners reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Lennar Corp. in a research report on Wednesday, June 15th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Lennar Corp. in a research report on Tuesday, June 28th. Raymond James Financial Inc. raised Lennar Corp. from a “market perform” rating to an “outperform” rating in a research report on Monday, June 27th. FBR & Co reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Lennar Corp. in a research report on Wednesday, June 22nd. Finally, 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 report on Wednesday, August 24th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Lennar Corp. currently has an average rating of “Buy” and a consensus price target of $54.08.
Shares of Lennar Corp. (NYSE:LEN) traded down 0.11% on Wednesday, hitting $43.45. The stock had a trading volume of 5,046,628 shares. The company has a market cap of $9.52 billion, a P/E ratio of 11.60 and a beta of 1.37. The company’s 50 day moving average price is $46.34 and its 200-day moving average price is $46.48. Lennar Corp. has a 12 month low of $37.14 and a 12 month high of $52.50.
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Lennar Corp. (NYSE:LEN) last posted its quarterly earnings data on Tuesday, September 20th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. Lennar Corp. had a return on equity of 14.41% and a net margin of 8.52%. The business had revenue of $2.83 billion for the quarter. During the same period in the prior year, the company posted $0.96 EPS. The firm’s revenue was up 13.7% compared to the same quarter last year. On average, analysts expect that Lennar Corp. will post $3.82 earnings per share for the current year.
A number of large investors have recently made changes to their positions in LEN. Sanders Capital LLC increased its stake in shares of Lennar Corp. by 0.5% in the second quarter. Sanders Capital LLC now owns 8,435,452 shares of the company’s stock worth $396,802,000 after buying an additional 38,157 shares during the last quarter. Aristotle Capital Management LLC boosted its position in shares of Lennar Corp. by 3.2% in the second quarter. Aristotle Capital Management LLC now owns 5,595,802 shares of the company’s stock worth $257,966,000 after buying an additional 171,406 shares during the period. Eminence Capital LP boosted its position in shares of Lennar Corp. by 10.9% in the second quarter. Eminence Capital LP now owns 3,365,856 shares of the company’s stock worth $155,166,000 after buying an additional 331,226 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Lennar Corp. by 3.7% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,986,303 shares of the company’s stock worth $137,669,000 after buying an additional 106,100 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in shares of Lennar Corp. by 15.0% in the second quarter. Lord Abbett & CO. LLC now owns 2,835,787 shares of the company’s stock worth $130,730,000 after buying an additional 368,924 shares during the period. 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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