Q3 2016 Earnings Forecast for Lennar Corp. (LEN) Issued By Wedbush
Lennar Corp. (NYSE:LEN) – Analysts at Wedbush issued their Q3 2016 earnings per share estimates for Lennar Corp. in a research note issued on Monday. Wedbush analyst J. Mccanless forecasts that the firm will post earnings of $0.90 per share for the quarter. Wedbush has a “Neutral” rating and a $46.00 price objective on the stock. Wedbush also issued estimates for Lennar Corp.’s Q4 2016 earnings at $1.31 EPS, FY2016 earnings at $3.91 EPS, Q1 2017 earnings at $0.63 EPS, Q2 2017 earnings at $1.00 EPS, Q3 2017 earnings at $1.05 EPS, Q4 2017 earnings at $1.30 EPS and FY2017 earnings at $3.99 EPS.
Lennar Corp. (NYSE:LEN) last announced its quarterly 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. Lennar Corp. had a net margin of 8.37% and a return on equity of 14.34%. The business had revenue of $2.83 billion for the quarter. During the same quarter last year, the company posted $0.96 EPS. The firm’s quarterly revenue was up 13.7% on a year-over-year basis.
A number of other research analysts have also weighed in on LEN. Royal Bank Of Canada dropped their price objective on shares of Lennar Corp. from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday. MKM Partners reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Lennar Corp. in a research note on Wednesday, June 15th. FBR & Co reaffirmed an “outperform” rating on shares of Lennar Corp. in a research note on Wednesday. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Lennar Corp. in a research note on Tuesday, June 28th. Finally, RBC Capital Markets reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Lennar Corp. in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $54.08.
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Shares of Lennar Corp. (NYSE:LEN) traded up 0.62% on Thursday, reaching $43.72. 2,193,758 shares of the company were exchanged. The company’s 50 day moving average is $46.28 and its 200 day moving average is $46.46. Lennar Corp. has a 12-month low of $37.14 and a 12-month high of $52.50. The firm has a market capitalization of $9.58 billion, a PE ratio of 11.67 and a beta of 1.37.
Institutional investors have recently modified their holdings of the stock. BB&T Securities LLC raised its stake in shares of Lennar Corp. by 20.6% in the first quarter. BB&T Securities LLC now owns 505,182 shares of the company’s stock valued at $24,430,000 after buying an additional 86,311 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Lennar Corp. by 38.0% in the first quarter. 1832 Asset Management L.P. now owns 704,000 shares of the company’s stock valued at $56,644,000 after buying an additional 194,000 shares during the last quarter. Canada Pension Plan Investment Board raised its stake 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. Wexford Capital LP bought a new stake in shares of Lennar Corp. during the first quarter valued at about $3,845,000. Finally, Ruffer LLP bought a new stake in shares of Lennar Corp. during the first quarter valued at about $7,456,000. 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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