Royal Bank Of Canada Lowers Lennar Corp. (LEN) Price Target to $55.00
Lennar Corp. (NYSE:LEN) had its price target decreased by Royal Bank Of Canada from $64.00 to $55.00 in a research note issued to investors on Wednesday. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 26.44% from the company’s current price.
Several other research firms have also commented on LEN. 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. Argus assumed coverage on Lennar Corp. in a report on Tuesday, July 5th. They set a “buy” rating and a $59.00 target price on the stock. FBR & Co reaffirmed an “outperform” rating and set a $60.00 target price on shares of Lennar Corp. in a report on Wednesday, June 22nd. MKM Partners reaffirmed a “hold” rating on shares of Lennar Corp. in a report on Wednesday, June 22nd. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Lennar Corp. in a report on Tuesday, June 28th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Lennar Corp. currently has a consensus rating of “Buy” and an average price target of $54.38.
Shares of Lennar Corp. (NYSE:LEN) opened at 43.50 on Wednesday. The stock has a market capitalization of $9.53 billion, a PE ratio of 11.61 and a beta of 1.37. The stock’s 50 day moving average price is $46.34 and its 200 day moving average price is $46.48. Lennar Corp. has a one year low of $37.14 and a one year high of $52.50.
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Lennar Corp. (NYSE:LEN) last announced its quarterly earnings data on Tuesday, September 20th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. The business had revenue of $2.83 billion for the quarter, compared to analyst estimates 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 was up 13.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 earnings per share. Equities research analysts predict that Lennar Corp. will post $3.82 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its position in Lennar Corp. by 6.5% in the second quarter. Macquarie Group Ltd. now owns 118,138 shares of the company’s stock valued at $5,446,000 after buying an additional 7,205 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Lennar Corp. during the second quarter valued at $341,000. Kentucky Retirement Systems purchased a new position in Lennar Corp. during the second quarter valued at $719,000. Northwestern Mutual Investment Management Company LLC increased its position in 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 valued at $323,000 after buying an additional 120 shares during the period. Finally, Mason Street Advisors LLC purchased a new position in Lennar Corp. during the second quarter valued at $1,139,000. 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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