Mizuho Reiterates Hold Rating for Lennar Corporation (LEN)
Lennar Corporation (NYSE:LEN)‘s stock had its “hold” rating restated by equities researchers at Mizuho in a report released on Friday. They presently have a $53.00 price target on the construction company’s stock. Mizuho’s price target suggests a potential downside of 8.64% from the company’s current price.
Several other equities analysts have also recently weighed in on LEN. UBS AG started coverage on shares of Lennar Corporation in a research note on Wednesday. They issued a “buy” rating on the stock. BidaskClub raised shares of Lennar Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. Royal Bank Of Canada reissued a “buy” rating and issued a $64.00 target price on shares of Lennar Corporation in a report on Monday, September 25th. MKM Partners raised shares of Lennar Corporation from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a report on Wednesday, October 4th. Finally, Bank of America Corporation increased their target price on shares of Lennar Corporation from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $57.93.
Lennar Corporation (LEN) traded down 0.77% during trading on Friday, hitting $58.01. 1,781,965 shares of the stock traded hands. The company has a market cap of $13.65 billion, a P/E ratio of 16.72 and a beta of 1.22. The firm has a 50-day moving average price of $54.18 and a 200 day moving average price of $52.73. Lennar Corporation has a 52-week low of $39.68 and a 52-week high of $58.96.
Lennar Corporation (NYSE:LEN) last issued its quarterly earnings data on Tuesday, October 3rd. The construction company reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Lennar Corporation had a net margin of 6.65% and a return on equity of 12.37%. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the prior year, the business earned $1.01 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities analysts expect that Lennar Corporation will post $3.82 EPS for the current year.
In other news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $56.48, for a total transaction of $282,400.00. Following the completion of the sale, the chief financial officer now directly owns 376,043 shares in the company, valued at $21,238,908.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.18% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in LEN. D.A. Davidson & CO. lifted its position in shares of Lennar Corporation by 8.9% during 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 last quarter. Commonwealth Bank of Australia lifted its position in shares of Lennar Corporation by 32.4% during 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 last quarter. Washington Trust Bank lifted its position in shares of Lennar Corporation by 47.6% during the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock worth $131,000 after purchasing an additional 794 shares during the last quarter. QS Investors LLC lifted its position in shares of 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 purchasing an additional 25 shares during the last quarter. Finally, MUFG Americas Holdings Corp lifted its position in shares of Lennar Corporation by 7.3% during the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 80.58% 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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