Other research analysts also recently issued research reports about the company. Citigroup Inc. lowered their price target on Lennar Corp. from $50.00 to $48.00 and set a neutral rating on the stock in a report on Wednesday, September 21st. Royal Bank Of Canada lowered their price target on Lennar Corp. from $64.00 to $55.00 and set an outperform rating on the stock in a report on Wednesday, September 21st. Raymond James Financial Inc. upgraded Lennar Corp. from a market perform rating to an outperform rating in a report on Monday, June 27th. FBR & Co reiterated an outperform rating and set a $60.00 price target on shares of Lennar Corp. in a report on Wednesday, September 21st. Finally, MKM Partners reiterated a neutral rating and set a $52.00 price target on shares of Lennar Corp. in a report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Lennar Corp. has an average rating of Buy and a consensus price target of $54.03.
Shares of Lennar Corp. (NYSE:LEN) opened at 43.11 on Tuesday. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 11.34 and a beta of 1.37. The stock has a 50 day moving average price of $46.14 and a 200-day moving average price of $46.42. Lennar Corp. has a 1-year low of $37.14 and a 1-year high of $52.50.
Lennar Corp. (NYSE:LEN) last issued its quarterly earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. Lennar Corp. had a return on equity of 14.41% and a net margin of 8.52%. The business had revenue of $2.83 billion for the quarter. During the same quarter in the prior year, the firm posted $0.96 EPS. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts expect that Lennar Corp. will post $3.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Wednesday, October 5th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.16 annualized dividend and a yield of 0.37%. Lennar Corp.’s dividend payout ratio is 4.21%.
A number of institutional investors have recently modified their holdings of LEN. Macquarie Group Ltd. raised its position in shares of Lennar Corp. by 6.5% in the second quarter. Macquarie Group Ltd. now owns 118,138 shares of the company’s stock valued at $5,446,000 after buying an additional 7,205 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Lennar Corp. during the second quarter valued at $341,000. Kentucky Retirement Systems bought a new stake in Lennar Corp. during the second quarter valued at $719,000. Northwestern Mutual Investment Management Company LLC raised its stake in Lennar Corp. by 1.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,996 shares of the company’s stock valued at $323,000 after buying an additional 120 shares in the last quarter. Finally, Mason Street Advisors LLC bought a new stake in Lennar Corp. during the second quarter valued at $1,139,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.
Lennar Corp. Company Profile
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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