Lennar Corporation (LEN) Receives Average Recommendation of “Buy” from Analysts
Lennar Corporation (NYSE:LEN) has been given an average rating of “Buy” by the twenty-one brokerages that are currently covering the company, MarketBeat Ratings reports. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $56.13.
A number of research firms recently commented on LEN. Barclays PLC downgraded Lennar Corporation from an “overweight” rating to an “equal weight” rating and set a $56.00 price target for the company. in a research note on Tuesday, July 11th. Mizuho reiterated a “buy” rating on shares of Lennar Corporation in a research note on Tuesday, July 11th. Wedbush reiterated a “neutral” rating and issued a $46.00 price target on shares of Lennar Corporation in a research note on Thursday, June 15th. Bank of America Corporation reiterated a “buy” rating and issued a $63.00 price target (up from $60.00) on shares of Lennar Corporation in a research note on Wednesday, June 21st. Finally, Royal Bank Of Canada lifted their price target on Lennar Corporation from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 21st.
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In other news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar Corporation stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the sale, the chief operating officer now owns 139,433 shares of the company’s stock, valued at $7,413,652.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.18% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Spirit of America Management Corp NY acquired a new stake in Lennar Corporation during the first quarter worth $256,000. Korea Investment CORP acquired a new stake in Lennar Corporation during the first quarter worth $2,790,000. Xact Kapitalforvaltning AB boosted its stake in Lennar Corporation by 24.9% in the first quarter. Xact Kapitalforvaltning AB now owns 17,449 shares of the construction company’s stock worth $893,000 after buying an additional 3,480 shares during the period. National Pension Service boosted its stake in Lennar Corporation by 9.8% in the second quarter. National Pension Service now owns 235,689 shares of the construction company’s stock worth $12,421,000 after buying an additional 21,075 shares during the period. Finally, Smead Capital Management Inc. boosted its stake in Lennar Corporation by 17.2% in the first quarter. Smead Capital Management Inc. now owns 1,302,102 shares of the construction company’s stock worth $66,655,000 after buying an additional 191,215 shares during the period. 81.81% of the stock is currently owned by institutional investors.
Lennar Corporation (LEN) traded up 0.33% during mid-day trading on Tuesday, hitting $54.07. The stock had a trading volume of 1,196,677 shares. The company has a 50-day moving average of $53.30 and a 200-day moving average of $51.13. The firm has a market cap of $12.68 billion, a PE ratio of 15.81 and a beta of 1.26. Lennar Corporation has a 12-month low of $39.68 and a 12-month high of $55.75.
Lennar Corporation (NYSE:LEN) last posted its quarterly earnings results on Tuesday, June 20th. The construction company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.13. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same period last year, the firm earned $0.95 earnings per share. Analysts expect that Lennar Corporation will post $3.82 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Thursday, July 13th were issued a dividend of $0.04 per share. The ex-dividend date was Tuesday, July 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.30%. Lennar Corporation’s dividend payout ratio (DPR) is presently 4.68%.
About Lennar Corporation
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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