Lennar Corp. (LEN) PT Lowered to $55.00 at Keefe, Bruyette & Woods
Lennar Corp. (NYSE:LEN) had its price objective lowered by investment analysts at Keefe, Bruyette & Woods from $57.00 to $55.00 in a report released on Wednesday, StockTargetPrices.com reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 26.44% from the stock’s current price.
Several other research firms also recently issued reports on LEN. Zacks Investment Research raised Lennar Corp. from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Wednesday, August 24th. Citigroup Inc. decreased their price objective on Lennar Corp. from $50.00 to $48.00 and set a “neutral” rating for the company in a report on Wednesday. Wedbush started coverage on Lennar Corp. in a report on Monday. They set a “neutral” rating and a $46.00 price target for the company. Royal Bank Of Canada reduced their price target on Lennar Corp. from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, MKM Partners reiterated a “hold” rating on shares of Lennar Corp. in a report on Wednesday, June 22nd. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $54.19.
Lennar Corp. (NYSE:LEN) opened at 43.50 on Wednesday. The company’s 50 day moving average price is $46.34 and its 200 day moving average price is $46.48. The firm has a market cap of $9.53 billion, a PE ratio of 11.61 and a beta of 1.37. Lennar Corp. has a 52-week low of $37.14 and a 52-week high of $52.50.
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Lennar Corp. (NYSE:LEN) last released its quarterly earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.12. 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 period in the prior year, the business earned $0.96 EPS. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. Analysts predict that Lennar Corp. will post $3.82 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wafra Investment Advisory Group Inc. NY increased its position in shares of Lennar Corp. by 7.9% in the fourth quarter. Wafra Investment Advisory Group Inc. NY now owns 518,939 shares of the company’s stock valued at $25,381,000 after buying an additional 38,160 shares in the last quarter. Winton Capital Group Ltd bought a new stake in Lennar Corp. during the fourth quarter worth $1,327,000. Reilly Financial Advisors LLC bought a new stake in Lennar Corp. during the fourth quarter worth $6,837,000. Columbus Circle Investors boosted its stake in Lennar Corp. by 49.2% in the fourth quarter. Columbus Circle Investors now owns 308,651 shares of the company’s stock worth $15,096,000 after buying an additional 101,787 shares during the last quarter. Finally, ExxonMobil Investment Management boosted its stake in Lennar Corp. by 0.5% in the fourth quarter. ExxonMobil Investment Management now owns 40,131 shares of the company’s stock worth $1,963,000 after buying an additional 202 shares during the last quarter. Institutional investors and hedge funds 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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