Lennar Corp. (LEN) PT Lowered to $48.00 at Citigroup Inc.
Lennar Corp. (NYSE:LEN) had its target price reduced by stock analysts at Citigroup Inc. from $50.00 to $48.00 in a note issued to investors on Wednesday. The brokerage currently has a “neutral” rating on the stock. Citigroup Inc.’s price target would indicate a potential upside of 10.34% from the company’s current price.
Several other analysts have also recently issued reports on LEN. MKM Partners reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Lennar Corp. in a report on Wednesday, June 15th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Lennar Corp. in a report on Tuesday, June 28th. Raymond James Financial Inc. upgraded Lennar Corp. from a “market perform” rating to an “outperform” rating in a report on Monday, June 27th. FBR & Co restated an “outperform” rating and set a $60.00 price target on shares of Lennar Corp. in a report on Wednesday, June 22nd. Finally, Zacks Investment Research upgraded Lennar Corp. from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Wednesday, August 24th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Lennar Corp. currently has a consensus rating of “Buy” and an average target price of $54.34.
Lennar Corp. (NYSE:LEN) opened at 43.50 on Wednesday. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 11.61 and a beta of 1.37. The firm’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 issued its quarterly earnings data on Tuesday, September 20th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.13. The business had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.69 billion. Lennar Corp. had a return on equity of 14.41% and a net margin of 8.52%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. On average, analysts anticipate that Lennar Corp. will post $3.82 earnings per share for the current year.
A number of large investors have recently modified their holdings of LEN. Cleararc Capital Inc. increased its stake in shares of Lennar Corp. by 1.9% in the second quarter. Cleararc Capital Inc. now owns 4,465 shares of the company’s stock worth $206,000 after buying an additional 83 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in shares of Lennar Corp. by 0.8% in the second quarter. Gateway Investment Advisers LLC now owns 12,620 shares of the company’s stock worth $582,000 after buying an additional 97 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of 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 during the last quarter. Pitcairn Co. increased its stake in shares of Lennar Corp. by 1.7% in the second quarter. Pitcairn Co. now owns 7,530 shares of the company’s stock worth $347,000 after buying an additional 125 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in shares of Lennar Corp. by 2.9% in the second quarter. LS Investment Advisors LLC now owns 7,648 shares of the company’s stock worth $353,000 after buying an additional 217 shares during the last quarter. 86.39% of the stock is currently owned by institutional investors.
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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