Lennar Corporation (LEN) to Post FY2017 Earnings of $4.10 Per Share, Wedbush Forecasts
Lennar Corporation (NYSE:LEN) – Stock analysts at Wedbush cut their FY2017 EPS estimates for shares of Lennar Corporation in a research note issued to investors on Tuesday. Wedbush analyst J. Mccanless now forecasts that the construction company will post earnings per share of $4.10 for the year, down from their prior forecast of $4.15. Wedbush currently has a “Neutral” rating and a $54.00 target price on the stock. Wedbush also issued estimates for Lennar Corporation’s Q4 2017 earnings at $1.55 EPS, Q1 2018 earnings at $0.76 EPS, Q2 2018 earnings at $1.06 EPS and FY2018 earnings at $4.80 EPS.
A number of other research analysts have also recently weighed in on LEN. BidaskClub cut shares of Lennar Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Royal Bank Of Canada boosted their target price on shares of Lennar Corporation from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, June 21st. Bank of America Corporation reiterated a “buy” rating and issued a $63.00 target price (up from $60.00) on shares of Lennar Corporation in a research note on Wednesday, June 21st. Credit Suisse Group initiated coverage on shares of Lennar Corporation in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 target price on the stock. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $53.00 target price (up from $52.00) on shares of Lennar Corporation in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $57.63.
WARNING: This piece of content was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/05/lennar-corporation-len-to-post-fy2017-earnings-of-4-10-per-share-wedbush-forecasts.html.
Lennar Corporation (NYSE LEN) opened at 56.41 on Thursday. Lennar Corporation has a 12-month low of $39.68 and a 12-month high of $56.44. The firm has a 50-day moving average of $51.69 and a 200 day moving average of $52.05. The company has a market capitalization of $13.23 billion, a PE ratio of 16.49 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.52%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.01 EPS.
Institutional investors have recently bought and sold shares of the stock. Great Lakes Advisors LLC bought a new stake in Lennar Corporation during the 2nd quarter worth approximately $1,896,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings 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 worth $35,135,000 after acquiring an additional 16,959 shares during the period. Daiwa Securities Group Inc. increased its holdings 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 worth $331,000 after acquiring an additional 550 shares during the period. LMR Partners LLP increased its holdings in Lennar Corporation by 43.5% during the 2nd quarter. LMR Partners LLP now owns 14,295 shares of the construction company’s stock worth $762,000 after acquiring an additional 4,333 shares during the period. Finally, Victory Capital Management Inc. increased its holdings 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 worth $1,785,000 after acquiring an additional 5,083 shares during the period. 81.10% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Lennar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Corporation and related companies with MarketBeat.com's FREE daily email newsletter.