Lennar Corp. (LEN) PT Set at $52.00 by Bank of America Corp.
Lennar Corp. (NYSE:LEN) has been given a $52.00 price target by investment analysts at Bank of America Corp. in a research report issued on Tuesday. The firm presently has a a “buy” rating on the stock. Bank of America Corp.’s target price indicates a potential upside of 19.54% from the stock’s current price.
A number of other equities research analysts have also recently commented on the stock. Argus initiated coverage on shares of Lennar Corp. in a research report on Tuesday, July 5th. They issued a “buy” rating and a $59.00 target price for the company. Zacks Investment Research lowered shares of Lennar Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 29th. Wedbush began coverage on shares of Lennar Corp. in a report on Monday. They issued a “neutral” rating and a $46.00 price objective for the company. FBR & Co reissued an “outperform” rating and issued a $60.00 price objective on shares of Lennar Corp. in a report on Wednesday, June 22nd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Lennar Corp. from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $54.08.
Shares of Lennar Corp. (NYSE:LEN) traded down 1.36% during mid-day trading on Tuesday, reaching $42.91. 3,278,146 shares of the company’s stock were exchanged. The stock has a market capitalization of $9.40 billion, a PE ratio of 11.45 and a beta of 1.37. Lennar Corp. has a 1-year low of $37.14 and a 1-year high of $52.50. The company’s 50 day moving average is $46.34 and its 200 day moving average is $46.48.
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Lennar Corp. (NYSE:LEN) last issued its earnings results on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.12. The business earned $2.83 billion during the quarter. Lennar Corp. had a net margin of 8.52% and a return on equity of 14.41%. Lennar Corp.’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned $0.96 earnings per share. Equities research analysts anticipate that Lennar Corp. will post $3.82 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. boosted its stake in Lennar Corp. by 5.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 152,404 shares of the company’s stock worth $7,371,000 after buying an additional 7,382 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Lennar Corp. by 18.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,073 shares of the company’s stock worth $1,986,000 after buying an additional 6,298 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its stake in Lennar Corp. by 9.3% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 43,853 shares of the company’s stock worth $2,121,000 after buying an additional 3,722 shares during the last quarter. Aperio Group LLC boosted its stake in Lennar Corp. by 7.1% in the first quarter. Aperio Group LLC now owns 111,846 shares of the company’s stock worth $5,409,000 after buying an additional 7,462 shares during the last quarter. Finally, Ngam Advisors L.P. boosted its stake in Lennar Corp. by 52.2% in the first quarter. Ngam Advisors L.P. now owns 123,554 shares of the company’s stock worth $5,975,000 after buying an additional 42,377 shares during the last quarter. 86.39% of the stock is currently 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.
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