RBC Capital Markets reaffirmed their buy rating on shares of Lennar Corp. (NYSE:LEN) in a research note published on Wednesday. RBC Capital Markets currently has a $55.00 target price on the stock, down from their previous target price of $64.00.
LEN has been the subject of a number of other research reports. MKM Partners set a $52.00 price objective on Lennar Corp. and gave the company a hold rating in a research report on Wednesday, September 14th. Wedbush started coverage on Lennar Corp. in a research report on Monday, September 19th. They set a neutral rating and a $46.00 price objective for the company. Credit Suisse Group AG reiterated a hold rating on shares of Lennar Corp. in a research report on Tuesday, June 28th. Zacks Investment Research lowered Lennar Corp. from a buy rating to a hold rating in a research report on Monday, August 29th. Finally, Argus started coverage on Lennar Corp. in a research report on Tuesday, July 5th. They set a buy rating and a $59.00 price target for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Lennar Corp. has an average rating of Buy and a consensus price target of $54.03.
Shares of Lennar Corp. (NYSE:LEN) opened at 42.95 on Wednesday. The stock has a market cap of $9.41 billion, a PE ratio of 11.30 and a beta of 1.37. Lennar Corp. has a 52-week low of $37.14 and a 52-week high of $52.50. The company’s 50-day moving average price is $46.03 and its 200-day moving average price is $46.43.
Lennar Corp. (NYSE:LEN) last released its quarterly earnings data on Tuesday, September 20th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 earned $2.83 billion during the quarter. During the same quarter in the prior year, the firm earned $0.96 EPS. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. Analysts expect that Lennar Corp. will post $3.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, October 3rd. Lennar Corp.’s dividend payout ratio (DPR) is presently 4.21%.
Large investors have recently made changes to their positions in the company. Macquarie Group Ltd. raised its stake 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 worth $5,446,000 after buying an additional 7,205 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Lennar Corp. during the second quarter worth about $341,000. Kentucky Retirement Systems bought a new stake in shares of Lennar Corp. during the second quarter worth about $719,000. Northwestern Mutual Investment Management Company LLC raised its stake in shares of 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 worth $323,000 after buying an additional 120 shares during the period. Finally, Mason Street Advisors LLC bought a new stake in shares of Lennar Corp. during the second quarter worth about $1,139,000. 86.39% of the stock is currently owned by institutional investors.
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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