Lennar Corporation (LEN) Receives Average Rating of “Buy” from Analysts
Shares of Lennar Corporation (NYSE:LEN) have been given a consensus recommendation of “Buy” by the twenty-one research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, nine have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $56.00.
Several analysts recently issued reports on the company. Mizuho assumed coverage on Lennar Corporation in a report on Tuesday, May 16th. They set a “buy” rating and a $59.00 target price on the stock. Argus reiterated a “buy” rating and set a $60.00 target price (up previously from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Zacks Investment Research lowered Lennar Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Lennar Corporation in a report on Tuesday, July 4th. Finally, MKM Partners reiterated a “neutral” rating and set a $58.00 target price (up previously from $55.00) on shares of Lennar Corporation in a report on Friday, June 23rd.
Shares of Lennar Corporation (NYSE:LEN) traded up 1.34% on Friday, hitting $50.54. The company had a trading volume of 1,509,147 shares. The firm has a 50 day moving average of $52.49 and a 200-day moving average of $51.82. The firm has a market capitalization of $11.85 billion, a P/E ratio of 14.77 and a beta of 1.24. Lennar Corporation has a 12-month low of $39.68 and a 12-month high of $55.75.
Lennar Corporation (NYSE:LEN) last released its earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the company posted $0.95 earnings per share. Lennar Corporation’s revenue was up 18.8% on a year-over-year basis. On average, equities analysts predict that Lennar Corporation will post $3.82 EPS for the current year.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the 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 transaction, the chief operating officer now owns 139,433 shares in the company, valued at $7,413,652.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.18% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. increased its stake in shares of Lennar Corporation by 0.3% during the second quarter. Alps Advisors Inc. now owns 9,280 shares of the construction company’s stock worth $495,000 after purchasing an additional 24 shares during the period. QS Investors LLC grew its position in Lennar Corporation by 1.0% during the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after buying an additional 25 shares in the last quarter. Fisher Asset Management LLC grew its position in Lennar Corporation by 0.7% during the second quarter. Fisher Asset Management LLC now owns 4,052 shares of the construction company’s stock worth $216,000 after buying an additional 27 shares in the last quarter. Riverhead Capital Management LLC grew its position in Lennar Corporation by 0.4% during the second quarter. Riverhead Capital Management LLC now owns 8,326 shares of the construction company’s stock worth $444,000 after buying an additional 36 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in Lennar Corporation by 0.7% during the second quarter. State of Alaska Department of Revenue now owns 6,157 shares of the construction company’s stock worth $328,000 after buying an additional 40 shares in the last quarter. Institutional investors own 81.09% of the company’s stock.
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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