Lennar Corporation (LEN) Given Consensus Rating of “Buy” by Brokerages
Lennar Corporation (NYSE:LEN) has been assigned an average rating of “Buy” from the twenty research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, eight have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $57.67.
A number of equities analysts have recently issued reports on LEN shares. MKM Partners reiterated a “neutral” rating and issued a $58.00 price target (up previously from $55.00) on shares of Lennar Corporation in a report on Friday, June 23rd. Mizuho cut Lennar Corporation from a “buy” rating to a “neutral” rating and lowered their target price for the company from $59.00 to $53.00 in a report on Tuesday, September 19th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $62.00 price objective on shares of Lennar Corporation in a research report on Thursday, July 27th. Bank of America Corporation boosted their price objective on shares of Lennar Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Credit Suisse Group began coverage on Lennar Corporation in a report on Thursday, June 22nd. They set a “neutral” rating and a $55.00 price objective on the stock.
Shares of Lennar Corporation (LEN) traded up 1.92% during mid-day trading on Wednesday, reaching $56.41. 3,605,702 shares of the company’s stock traded hands. Lennar Corporation has a one year low of $39.68 and a one year high of $56.44. The firm’s 50-day moving average is $51.62 and its 200 day moving average is $52.02. The firm has a market cap of $13.23 billion, a price-to-earnings ratio of 16.49 and a beta of 1.22.
Lennar Corporation (NYSE:LEN) last issued its earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. Analysts predict that Lennar Corporation will post $3.82 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of LEN. Great Lakes Advisors LLC bought a new position in shares of Lennar Corporation in the second quarter valued at approximately $1,896,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Lennar Corporation by 2.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 658,941 shares of the construction company’s stock valued at $35,135,000 after purchasing an additional 16,959 shares during the period. Daiwa Securities Group Inc. boosted its stake in Lennar Corporation by 9.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 6,200 shares of the construction company’s stock valued at $331,000 after purchasing an additional 550 shares during the period. LMR Partners LLP boosted its stake in Lennar Corporation by 43.5% during the 2nd quarter. LMR Partners LLP now owns 14,295 shares of the construction company’s stock valued at $762,000 after purchasing an additional 4,333 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Lennar Corporation by 17.9% during the 2nd quarter. Victory Capital Management Inc. now owns 33,473 shares of the construction company’s stock valued at $1,785,000 after purchasing an additional 5,083 shares during the period. Institutional investors own 81.10% of the company’s stock.
Lennar Corporation Company Profile
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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