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

Lennar (NYSE:LEN) had its target price cut by equities researchers at Keefe, Bruyette & Woods from $105.00 to $97.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the construction company’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 12.10% from the company’s current price.

A number of other equities analysts have also recently commented on the stock. Citigroup cut their price target on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Royal Bank Of Canada set a $88.00 price objective on shares of Lennar in a report on Friday, January 9th. Weiss Ratings lowered shares of Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 16th. BTIG Research set a $90.00 target price on Lennar in a research note on Thursday, December 18th. Finally, Evercore lowered Lennar from an “in-line” rating to an “underperform” rating and dropped their price target for the stock from $114.00 to $92.00 in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, Lennar presently has an average rating of “Reduce” and an average price target of $101.14.

Lennar Price Performance

Shares of NYSE LEN opened at $86.53 on Wednesday. The stock’s 50-day simple moving average is $105.66 and its two-hundred day simple moving average is $115.33. Lennar has a twelve month low of $83.03 and a twelve month high of $144.24. The firm has a market capitalization of $21.37 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.82 and a beta of 1.47. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.07). The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.14 EPS. As a group, equities analysts anticipate that Lennar will post 12.48 EPS for the current fiscal year.

Institutional Trading of Lennar

Several institutional investors have recently added to or reduced their stakes in LEN. Guerra Advisors Inc purchased a new position in shares of Lennar in the third quarter worth about $25,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Lennar during the 3rd quarter valued at about $25,000. Redmont Wealth Advisors LLC bought a new position in Lennar during the 3rd quarter worth approximately $26,000. High Point Wealth Management LLC purchased a new position in Lennar in the 4th quarter worth approximately $31,000. Finally, DV Equities LLC purchased a new position in Lennar in the 4th quarter worth approximately $31,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

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.