Lennar Corp. (LEN) Receives “Buy” Rating from RBC Capital Markets
Lennar Corp. (NYSE:LEN)‘s stock had its “buy” rating restated by equities researchers at RBC Capital Markets in a research note issued to investors on Wednesday. They presently have a $55.00 target price on the stock. RBC Capital Markets’ target price indicates a potential upside of 26.44% from the company’s previous close.
LEN has been the subject of several other reports. Argus assumed coverage on Lennar Corp. in a research report on Tuesday, July 5th. They issued a “buy” rating and a $59.00 price objective for the company. Credit Suisse Group AG reiterated a “hold” rating on shares of Lennar Corp. in a research report on Tuesday, June 28th. MKM Partners set a $52.00 price objective on Lennar Corp. and gave the stock a “hold” rating in a research report on Wednesday, September 14th. Zacks Investment Research lowered Lennar Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. Finally, FBR & Co restated an “outperform” rating and set a $60.00 price target on shares of Lennar Corp. in a research note on Wednesday, June 22nd. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $54.42.
Lennar Corp. (NYSE:LEN) opened at 43.50 on Wednesday. The stock has a market capitalization of $9.53 billion, a P/E ratio of 11.61 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 52 week low of $37.14 and a 52 week 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 for the quarter, topping the consensus estimate of $0.88 by $0.13. The company earned $2.83 billion during the quarter. Lennar Corp. had a return on equity of 14.41% and a net margin of 8.52%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share. Equities research analysts expect that Lennar Corp. will post $3.82 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of LEN. Exxonmobil Investment Management Inc. TX raised its position in shares of Lennar Corp. by 8.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 47,475 shares of the company’s stock valued at $2,189,000 after buying an additional 3,622 shares during the last quarter. IBM Retirement Fund raised its position in shares of Lennar Corp. by 6.5% in the second quarter. IBM Retirement Fund now owns 19,204 shares of the company’s stock valued at $885,000 after buying an additional 1,169 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Lennar Corp. by 166.5% in the first quarter. Canada Pension Plan Investment Board now owns 10,393 shares of the company’s stock valued at $503,000 after buying an additional 6,493 shares during the last quarter. Oakmont Corp raised its position in shares of Lennar Corp. by 18.1% in the second quarter. Oakmont Corp now owns 610,270 shares of the company’s stock valued at $28,133,000 after buying an additional 93,570 shares during the last quarter. Finally, Wesbanco Bank Inc. raised its position in shares of Lennar Corp. by 77.9% in the second quarter. Wesbanco Bank Inc. now owns 143,977 shares of the company’s stock valued at $6,638,000 after buying an additional 63,025 shares during the last quarter. Institutional investors own 86.39% of the company’s stock.
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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