Q2 2017 EPS Estimates for Lennar Corp. Lifted by FBR & Co (LEN)
Lennar Corp. (NYSE:LEN) – Analysts at FBR & Co increased their Q2 2017 EPS estimates for Lennar Corp. in a research note issued to investors on Wednesday. FBR & Co analyst P. Kealey now expects that the brokerage will post earnings of $0.97 per share for the quarter, up from their previous forecast of $0.87. FBR & Co has a “Outperform” rating on the stock.
LEN has been the subject of several other research reports. RBC Capital Markets restated a “buy” rating and issued a $55.00 price target on shares of Lennar Corp. in a research note on Wednesday. Argus began coverage on Lennar Corp. in a research note on Tuesday, July 5th. They issued a “buy” rating and a $59.00 price target for the company. Credit Suisse Group AG restated a “hold” rating on shares of Lennar Corp. in a research note on Tuesday, June 28th. Bank of America Corp. set a $52.00 price target on Lennar Corp. and gave the stock a “buy” rating in a research note on Tuesday. Finally, MKM Partners set a $52.00 price target on Lennar Corp. and gave the stock a “hold” rating in a research note on Wednesday, September 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $54.08.
Lennar Corp. (NYSE:LEN) traded up 0.60% during mid-day trading on Thursday, hitting $43.71. The company’s stock had a trading volume of 2,526,161 shares. Lennar Corp. has a 52-week low of $37.14 and a 52-week high of $52.50. The stock has a market cap of $9.58 billion, a P/E ratio of 11.67 and a beta of 1.37. The company’s 50 day moving average is $46.28 and its 200-day moving average is $46.46.
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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, topping the consensus estimate of $0.89 by $0.12. Lennar Corp. had a return on equity of 14.34% and a net margin of 8.37%. The business earned $2.83 billion during the quarter. During the same quarter in the prior year, the business earned $0.96 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the stock. 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 worth $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 worth $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 worth $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 worth $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 worth $6,638,000 after buying an additional 63,025 shares during the last quarter. 86.39% of the stock is 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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