Lennar (LEN) Bond Prices Rise 1%

An issue of Lennar Co. (NYSE:LEN) bonds rose 1% against their face value during trading on Wednesday. The high-yield debt issue has a 4.75% coupon and is set to mature on November 29, 2027. The debt is now trading at $97.02 and was trading at $96.25 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.

A number of equities analysts have weighed in on the stock. Citigroup raised their target price on shares of Lennar from $70.00 to $73.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush reaffirmed a “neutral” rating and set a $62.00 target price on shares of Lennar in a research note on Thursday. Credit Suisse Group decreased their target price on shares of Lennar from $81.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday. Zacks Investment Research downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, Argus raised their target price on shares of Lennar from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $68.80.

Shares of LEN traded down $2.31 on Friday, hitting $61.69. 2,456,412 shares of the stock traded hands, compared to its average volume of 5,116,781. The company has a market capitalization of $15,074.22, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 0.63 and a beta of 1.23. The company has a quick ratio of 1.67, a current ratio of 8.42 and a debt-to-equity ratio of 0.80. Lennar Co. has a one year low of $49.34 and a one year high of $72.17.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, April 4th. The construction company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.35. Lennar had a net margin of 6.84% and a return on equity of 13.73%. The company had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. sell-side analysts expect that Lennar Co. will post 5.48 EPS for the current year.

In related news, CFO Bruce E. Gross sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $69.43, for a total value of $347,150.00. Following the sale, the chief financial officer now owns 361,043 shares in the company, valued at $25,067,215.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark Sustana sold 125,000 shares of the firm’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $69.55, for a total transaction of $8,693,750.00. Following the completion of the sale, the general counsel now owns 65,720 shares in the company, valued at approximately $4,570,826. The disclosure for this sale can be found here. Insiders sold 155,000 shares of company stock worth $10,811,650 in the last 90 days. 8.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC boosted its stake in shares of Lennar by 15.6% during the 4th quarter. Global X Management Co. LLC now owns 6,474 shares of the construction company’s stock worth $409,000 after acquiring an additional 876 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Lennar by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 313,127 shares of the construction company’s stock worth $16,524,000 after acquiring an additional 924 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Lennar by 1.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 64,639 shares of the construction company’s stock worth $4,088,000 after acquiring an additional 1,167 shares during the last quarter. Corient Capital Partners LLC boosted its stake in shares of Lennar by 6.8% during the 4th quarter. Corient Capital Partners LLC now owns 18,387 shares of the construction company’s stock worth $1,163,000 after acquiring an additional 1,171 shares during the last quarter. Finally, FDx Advisors Inc. raised its position in shares of Lennar by 7.6% during the 4th quarter. FDx Advisors Inc. now owns 17,079 shares of the construction company’s stock valued at $1,080,000 after purchasing an additional 1,212 shares during the period. Institutional investors own 88.73% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Lennar (LEN) Bond Prices Rise 1%” was originally posted by Ticker Report and is the property of of Ticker Report. If you are reading this story on another domain, it was illegally copied and republished in violation of international copyright and trademark laws. The legal version of this story can be viewed at https://www.tickerreport.com/banking-finance/3335495/lennar-len-bond-prices-rise-1.html.

About Lennar

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Simpson Manufacturing  Expected to Post Earnings of $0.49 Per Share
Simpson Manufacturing Expected to Post Earnings of $0.49 Per Share
Zacks: Brokerages Expect PotlatchDeltic  to Post $0.67 EPS
Zacks: Brokerages Expect PotlatchDeltic to Post $0.67 EPS
Zacks: Brokerages Expect BioCryst Pharmaceuticals  Will Announce Quarterly Sales of $10.20 Million
Zacks: Brokerages Expect BioCryst Pharmaceuticals Will Announce Quarterly Sales of $10.20 Million
Virtacoinplus  Price Up 175% Over Last Week
Virtacoinplus Price Up 175% Over Last Week
Sumokoin Tops One Day Trading Volume of $76,838.00
Sumokoin Tops One Day Trading Volume of $76,838.00
Entegris  Updates Q2 Earnings Guidance
Entegris Updates Q2 Earnings Guidance


© 2006-2018 Ticker Report. Google+.