Shares of Lennar Corp. (NYSE:LEN) have earned a consensus rating of “Buy” from the twenty-two ratings firms that are currently covering the firm. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $54.28.
LEN has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Lennar Corp. from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Wednesday, August 24th. Wells Fargo & Co. initiated coverage on shares of Lennar Corp. in a research report on Wednesday, September 28th. They set a “market perform” rating for the company. Citigroup Inc. cut their price objective on shares of Lennar Corp. from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday, September 21st. Wedbush assumed coverage on shares of Lennar Corp. in a research report on Monday, September 19th. They set a “neutral” rating and a $46.00 price objective for the company. Finally, MKM Partners set a $51.00 target price on shares of Lennar Corp. and gave the company a “hold” rating in a research note on Thursday, September 22nd.
Several hedge funds have recently added to or reduced their stakes in the stock. IBM Retirement Fund boosted its stake in Lennar Corp. by 6.5% in the second quarter. IBM Retirement Fund now owns 19,204 shares of the company’s stock valued at $885,000 after buying an additional 1,169 shares during the period. Exxonmobil Investment Management Inc. TX boosted its stake in Lennar Corp. by 8.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 47,475 shares of the company’s stock valued at $2,189,000 after buying an additional 3,622 shares during the period. Oakmont Corp boosted its stake in Lennar Corp. by 18.1% in the second quarter. Oakmont Corp now owns 610,270 shares of the company’s stock valued at $28,133,000 after buying an additional 93,570 shares during the period. Canada Pension Plan Investment Board boosted its stake in Lennar Corp. by 166.5% in the first quarter. Canada Pension Plan Investment Board now owns 10,393 shares of the company’s stock valued at $503,000 after buying an additional 6,493 shares during the period. Finally, Wesbanco Bank Inc. raised its position in shares of Lennar Corp. by 77.9% in the second quarter. Wesbanco Bank Inc. now owns 143,977 shares of the company’s stock valued at $6,638,000 after buying an additional 63,025 shares in the last quarter. 86.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lennar Corp. (NYSE:LEN) opened at 42.10 on Thursday. The company has a market cap of $9.23 billion, a PE ratio of 11.08 and a beta of 1.41. Lennar Corp. has a one year low of $37.14 and a one year high of $52.50. The company’s 50-day moving average price is $45.42 and its 200 day moving average price is $46.29.
Lennar Corp. (NYSE:LEN) last announced its quarterly earnings data on Tuesday, September 20th. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.12. The business earned $2.83 billion during the quarter. Lennar Corp. had a net margin of 8.37% and a return on equity of 14.34%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 EPS. Equities analysts forecast that Lennar Corp. will post $3.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, October 3rd. This represents a $0.16 annualized dividend and a dividend yield of 0.38%. Lennar Corp.’s dividend payout ratio (DPR) is currently 4.21%.
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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