Lennar Corporation (LEN) Price Target Raised to $63.00 at BTIG Research
Lennar Corporation (NYSE:LEN) had its price objective hoisted by analysts at BTIG Research from $62.00 to $63.00 in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the construction company’s stock. BTIG Research’s price target would suggest a potential upside of 13.82% from the company’s current price.
A number of other analysts have also issued reports on LEN. MKM Partners reaffirmed a “neutral” rating and set a $58.00 target price (up from $55.00) on shares of Lennar Corporation in a research report on Friday, June 23rd. Mizuho downgraded Lennar Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the company from $59.00 to $53.00 in a report on Tuesday, September 19th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $62.00 price target on shares of Lennar Corporation in a report on Thursday, July 27th. Bank of America Corporation increased their price target on Lennar Corporation from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Credit Suisse Group began coverage on Lennar Corporation in a research note on Thursday, June 22nd. They set a “neutral” rating and a $55.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $57.63.
Lennar Corporation (NYSE:LEN) traded up 1.147% during mid-day trading on Wednesday, reaching $55.985. The company’s stock had a trading volume of 2,201,387 shares. The stock’s 50 day moving average price is $51.62 and its 200 day moving average price is $52.02. Lennar Corporation has a 1-year low of $39.68 and a 1-year high of $56.18. The stock has a market capitalization of $13.13 billion, a P/E ratio of 16.365 and a beta of 1.22.
Lennar Corporation (NYSE:LEN) last released its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping 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 firm 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 posted $1.01 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Analysts expect that Lennar Corporation will post $3.82 EPS for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the business. Sanders Capital LLC raised its position in shares of Lennar Corporation by 1.3% during the 1st quarter. Sanders Capital LLC now owns 8,724,399 shares of the construction company’s stock worth $456,887,000 after purchasing an additional 110,379 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Lennar Corporation by 5.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,516,323 shares of the construction company’s stock worth $400,771,000 after purchasing an additional 386,110 shares during the last quarter. Aristotle Capital Management LLC lifted its holdings in shares of Lennar Corporation by 1.3% in the 1st quarter. Aristotle Capital Management LLC now owns 5,767,575 shares of the construction company’s stock worth $295,242,000 after purchasing an additional 73,814 shares during the last quarter. Finally, Greenhaven Associates Inc. lifted its holdings in shares of Lennar Corporation by 0.9% in the 2nd quarter. Greenhaven Associates Inc. now owns 5,420,516 shares of the construction company’s stock worth $289,022,000 after purchasing an additional 46,200 shares during the last quarter. Institutional investors own 81.10% 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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