Lennar Corporation (NYSE:LEN) Given Average Recommendation of “Reduce” by Analysts

Shares of Lennar Corporation (NYSE:LEN) have been assigned an average rating of “Reduce” from the eighteen brokerages that are currently covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $95.00.

LEN has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lennar in a research report on Thursday, June 11th. BTIG Research set a $67.00 price target on shares of Lennar in a research report on Monday, June 15th. Royal Bank Of Canada dropped their price objective on shares of Lennar from $88.00 to $85.00 and set an “underperform” rating for the company in a research note on Monday, June 15th. Bank of America dropped their price objective on shares of Lennar from $84.00 to $77.00 and set an “underperform” rating for the company in a research note on Friday, June 12th. Finally, Argus dropped their price objective on shares of Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th.

Lennar Stock Performance

NYSE LEN opened at $89.74 on Friday. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $22.17 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 3.00 and a beta of 1.39. The firm’s 50 day simple moving average is $89.57 and its 200 day simple moving average is $101.95. Lennar has a 1 year low of $81.18 and a 1 year high of $144.24.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.07. The business had revenue of $7.94 billion for the quarter, compared to analyst estimates of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.81 EPS. As a group, research analysts expect that Lennar will post 5.47 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Investors of record on Wednesday, April 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, April 22nd. This represents a $2.00 annualized dividend and a yield of 2.2%. Lennar’s dividend payout ratio is presently 31.30%.

Hedge Funds Weigh In On Lennar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caerus Investment Advisors LLC bought a new position in Lennar in the 1st quarter valued at approximately $298,000. Western Wealth Management LLC bought a new position in Lennar in the 1st quarter valued at approximately $83,000. Janus Henderson Group PLC lifted its stake in Lennar by 19.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company’s stock valued at $221,176,000 after purchasing an additional 419,745 shares during the last quarter. Bull Harbor Capital LLC bought a new position in Lennar in the 1st quarter valued at approximately $392,000. Finally, Arkadios Wealth Advisors lifted its stake in Lennar by 18.8% in the 1st quarter. Arkadios Wealth Advisors now owns 11,441 shares of the construction company’s stock valued at $994,000 after purchasing an additional 1,809 shares during 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.