Lennar Corporation (LEN) Upgraded at MKM Partners
Lennar Corporation (NYSE:LEN) was upgraded by equities research analysts at MKM Partners from a “neutral” rating to a “buy” rating in a research report issued on Wednesday.
A number of other equities research analysts also recently weighed in on LEN. Argus reiterated a “buy” rating and issued a $60.00 price target (up from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Mizuho cut Lennar Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $59.00 to $53.00 in a research note on Tuesday, September 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Lennar Corporation in a report on Tuesday, July 4th. Zacks Investment Research downgraded shares of Lennar Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, BidaskClub downgraded shares of Lennar Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Lennar Corporation has a consensus rating of “Buy” and an average price target of $56.69.
Lennar Corporation (NYSE LEN) opened at 55.35 on Wednesday. Lennar Corporation has a 12 month low of $39.68 and a 12 month high of $55.85. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 16.18 and a beta of 1.22. The stock’s 50 day moving average is $51.62 and its 200-day moving average is $52.02.
Lennar Corporation (NYSE:LEN) last released its earnings results on Tuesday, October 3rd. The construction company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the business posted $1.01 EPS. Lennar Corporation’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities research analysts expect that Lennar Corporation will post $3.82 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. Beacon Capital Management bought a new stake in shares of Lennar Corporation during the fourth quarter valued at about $0. D.A. Davidson & CO. lifted its holdings in Lennar Corporation by 8.9% in the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after purchasing an additional 155 shares during the period. SeaBridge Investment Advisors LLC lifted its holdings in Lennar Corporation by 14.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 2,114 shares of the construction company’s stock worth $108,000 after purchasing an additional 259 shares during the period. Commonwealth Bank of Australia lifted its holdings in Lennar Corporation by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after purchasing an additional 530 shares during the period. Finally, Ropes Wealth Advisors LLC lifted its holdings in Lennar Corporation by 492.9% in the second quarter. Ropes Wealth Advisors LLC now owns 2,591 shares of the construction company’s stock worth $119,000 after purchasing an additional 2,154 shares during the period. 81.10% of the stock is owned by institutional investors.
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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