Lennar (NYSE:LEN) Price Target Cut to $130.00 by Analysts at JMP Securities

Lennar (NYSE:LENFree Report) had its price target lowered by JMP Securities from $150.00 to $130.00 in a research report report published on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the construction company’s stock.

A number of other equities analysts have also commented on the company. Wall Street Zen upgraded Lennar from a “sell” rating to a “hold” rating in a research note on Friday, April 18th. Barclays lowered their price objective on Lennar from $110.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Bank of America lowered their price objective on Lennar from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday. Zelman & Associates lowered Lennar from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Seaport Res Ptn upgraded Lennar from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Sixteen research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $132.50.

Check Out Our Latest Research Report on LEN

Lennar Price Performance

Shares of NYSE LEN opened at $106.36 on Friday. The firm has a market cap of $28.06 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 2.82 and a beta of 1.33. The company has a current ratio of 3.65, a quick ratio of 0.68 and a debt-to-equity ratio of 0.12. Lennar has a 1-year low of $98.42 and a 1-year high of $187.61. The business’s 50 day moving average is $107.78 and its 200-day moving average is $121.62.

Lennar (NYSE:LENGet Free Report) last announced its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). The firm had revenue of $8.38 billion for the quarter, compared to the consensus estimate of $8.21 billion. Lennar had a return on equity of 12.73% and a net margin of 9.20%. Lennar’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the business posted $3.45 EPS. Equities research analysts predict that Lennar will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.88%. Lennar’s payout ratio is 16.54%.

Hedge Funds Weigh In On Lennar

Several hedge funds and other institutional investors have recently modified their holdings of the business. Howard Capital Management Inc. increased its stake in shares of Lennar by 0.3% in the 4th quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock valued at $3,932,000 after purchasing an additional 81 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Lennar by 1.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company’s stock valued at $886,000 after acquiring an additional 89 shares in the last quarter. NorthRock Partners LLC boosted its holdings in shares of Lennar by 1.4% during the 1st quarter. NorthRock Partners LLC now owns 6,509 shares of the construction company’s stock valued at $747,000 after acquiring an additional 93 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in shares of Lennar by 1.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 8,841 shares of the construction company’s stock valued at $1,015,000 after acquiring an additional 95 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its holdings in shares of Lennar by 3.1% during the 4th quarter. Lake Street Advisors Group LLC now owns 3,201 shares of the construction company’s stock valued at $436,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

About Lennar

(Get Free Report)

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.

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