Keefe, Bruyette & Woods Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price objective lowered by Keefe, Bruyette & Woods from $115.00 to $105.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 12.16% from the company’s previous close.

Other equities analysts have also issued reports about the company. Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Royal Bank Of Canada set a $88.00 price target on shares of Lennar in a research note on Friday, January 9th. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating for the company in a report on Thursday, December 18th. Citizens Jmp reissued a “market perform” rating on shares of Lennar in a research report on Wednesday, January 7th. Finally, Evercore lowered shares of Lennar from an “in-line” rating to an “underperform” rating and dropped their price objective for the stock from $114.00 to $92.00 in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lennar currently has a consensus rating of “Reduce” and a consensus target price of $102.07.

Lennar Price Performance

LEN opened at $93.62 on Wednesday. The company has a fifty day simple moving average of $111.64 and a 200 day simple moving average of $118.67. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The stock has a market cap of $23.12 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.99 and a beta of 1.43. Lennar has a 12 month low of $92.17 and a 12 month high of $144.24.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The business had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. The firm’s revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.14 earnings per share. On average, research analysts expect that Lennar will post 12.48 EPS for the current year.

Institutional Trading of Lennar

Institutional investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC lifted its position in Lennar by 73.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 10,702 shares of the construction company’s stock worth $1,349,000 after buying an additional 4,548 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new position in shares of Lennar in the 2nd quarter valued at about $441,000. Employees Retirement System of Texas acquired a new stake in shares of Lennar in the second quarter valued at about $215,000. Cibc World Market Inc. raised its holdings in Lennar by 993.0% during the third quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after acquiring an additional 117,640 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Lennar by 4.3% during the second quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock worth $77,745,000 after acquiring an additional 29,300 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.