Lennar (NYSE:LEN) Hits New 52-Week Low – Here’s What Happened

Lennar Corporation (NYSE:LEN)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $96.40 and last traded at $97.08, with a volume of 378293 shares traded. The stock had previously closed at $101.17.

Analyst Ratings Changes

A number of brokerages have weighed in on LEN. The Goldman Sachs Group dropped their target price on shares of Lennar from $125.00 to $118.00 and set a “neutral” rating on the stock in a report on Thursday. Zacks Research lowered shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Wells Fargo & Company decreased their target price on Lennar from $110.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 6th. UBS Group lowered Lennar from a “buy” rating to a “neutral” rating and lowered their target price for the company from $137.00 to $122.00 in a report on Tuesday, January 6th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Lennar in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $106.14.

Lennar Stock Performance

The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $24.01 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 1.47 and a beta of 1.43. The company has a 50-day moving average price of $113.21 and a 200-day moving average price of $120.83.

Lennar (NYSE:LEN) last announced its earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same period in the previous year, the firm earned $4.03 EPS. The firm’s revenue was down 5.8% on a year-over-year basis. As a group, equities research analysts forecast that Lennar Corporation will post 12.48 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Wednesday, February 4th were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $2.00 annualized dividend and a yield of 2.1%. Lennar’s dividend payout ratio is presently 25.03%.

Institutional Trading of Lennar

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

Lennar Company Profile

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.