Lennar (LEN) Given Neutral Rating at Wedbush

Wedbush reissued their neutral rating on shares of Lennar (NYSE:LEN) in a report published on Thursday. The firm currently has a $62.00 target price on the construction company’s stock. Wedbush also issued estimates for Lennar’s Q1 2018 earnings at $0.91 EPS, Q2 2018 earnings at $0.93 EPS, Q3 2018 earnings at $1.29 EPS, Q3 2018 earnings at $1.21 EPS, Q4 2018 earnings at $1.62 EPS, FY2018 earnings at $4.85 EPS, Q1 2019 earnings at $0.85 EPS, Q1 2019 earnings at $0.86 EPS, Q2 2019 earnings at $1.02 EPS, Q3 2019 earnings at $1.55 EPS, Q3 2019 earnings at $1.47 EPS, Q4 2019 earnings at $1.86 EPS, FY2019 earnings at $5.72 EPS and FY2019 earnings at $5.29 EPS.

LEN has been the subject of several other research reports. Credit Suisse Group upgraded shares of Lennar from a neutral rating to an outperform rating and upped their price target for the company from $67.00 to $81.00 in a research report on Monday, January 22nd. Zacks Investment Research downgraded shares of Lennar from a buy rating to a hold rating in a research report on Monday, January 15th. Wells Fargo upgraded shares of Lennar from a market perform rating to an outperform rating and set a $74.00 price target for the company in a research report on Tuesday, January 2nd. Evercore ISI upgraded shares of Lennar from an in-line rating to an outperform rating in a research report on Friday, February 23rd. Finally, UBS reiterated a buy rating on shares of Lennar in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Lennar currently has a consensus rating of Buy and an average price target of $68.80.

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LEN stock traded down $3.38 on Thursday, hitting $60.62. The company’s stock had a trading volume of 4,194,005 shares, compared to its average volume of 5,153,241. Lennar has a 1 year low of $49.34 and a 1 year high of $72.17. The company has a market cap of $15,074.22, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 0.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.80, a current ratio of 8.42 and a quick ratio of 1.67.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, April 4th. The construction company reported $1.11 EPS for the quarter, beating the 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 firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the firm earned $0.59 EPS. Lennar’s revenue for the quarter was up 27.5% on a year-over-year basis. analysts anticipate that Lennar will post 5.48 earnings per share for the current year.

In other Lennar news, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $69.43, for a total transaction of $347,150.00. Following the completion of the transaction, the chief financial officer now owns 361,043 shares in the company, valued at approximately $25,067,215.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Bruce E. Gross sold 1,000 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $72.00, for a total transaction of $72,000.00. Following the transaction, the chief financial officer now owns 356,043 shares of the company’s stock, valued at approximately $25,635,096. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,000 shares of company stock valued at $10,811,650. 8.50% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. Eagle Asset Management Inc. grew its stake in shares of Lennar by 13.7% during the 4th quarter. Eagle Asset Management Inc. now owns 1,223,904 shares of the construction company’s stock worth $77,075,000 after purchasing an additional 147,399 shares during the period. Glenhill Advisors LLC acquired a new position in shares of Lennar during the 4th quarter worth $66,782,000. Carillon Tower Advisers Inc. acquired a new position in shares of Lennar during the 4th quarter worth $53,102,000. Clearbridge Investments LLC acquired a new position in shares of Lennar during the 4th quarter worth $38,955,000. Finally, California Public Employees Retirement System grew its stake in shares of Lennar by 2.5% during the 3rd quarter. California Public Employees Retirement System now owns 420,210 shares of the construction company’s stock worth $22,187,000 after purchasing an additional 10,410 shares during the period. 88.73% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Lennar (NYSE:LEN)

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