Lennar Corporation’s (LEN) “Neutral” Rating Reiterated at Citigroup Inc.
Lennar Corporation (NYSE:LEN)‘s stock had its “neutral” rating reaffirmed by analysts at Citigroup Inc. in a report released on Wednesday. They currently have a $59.00 price objective on the construction company’s stock, up from their prior price objective of $57.00. Citigroup Inc.’s price objective points to a potential upside of 4.59% from the stock’s previous close.
Other research analysts have also issued research reports about the company. Argus reiterated a “buy” rating and set a $60.00 price target (up previously from $57.00) on shares of Lennar Corporation in a research report on Tuesday, July 25th. Mizuho lowered Lennar Corporation from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $59.00 to $53.00 in a research report on Tuesday, September 19th. MKM Partners upgraded Lennar Corporation from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Wednesday. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Lennar Corporation in a research report on Tuesday, July 4th. Finally, BidaskClub lowered Lennar Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $57.63.
Lennar Corporation (LEN) traded up 1.92% on Wednesday, reaching $56.41. The company’s stock had a trading volume of 3,605,800 shares. Lennar Corporation has a 52-week low of $39.68 and a 52-week high of $56.44. The firm has a market capitalization of $13.23 billion, a P/E ratio of 16.49 and a beta of 1.22. The firm has a 50-day moving average price of $51.62 and a 200 day moving average price of $52.02.
Lennar Corporation (NYSE:LEN) last announced its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.25 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts anticipate that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: This news story was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/10/04/lennar-corporation-len-price-target-raised-to-59-00.html.
Large investors have recently bought and sold shares of the stock. Great Lakes Advisors LLC acquired a new stake in shares of Lennar Corporation in the second quarter valued at about $1,896,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Lennar Corporation by 2.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 658,941 shares of the construction company’s stock worth $35,135,000 after acquiring an additional 16,959 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Lennar Corporation by 9.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 6,200 shares of the construction company’s stock worth $331,000 after acquiring an additional 550 shares during the last quarter. LMR Partners LLP raised its holdings in shares of Lennar Corporation by 43.5% in the 2nd quarter. LMR Partners LLP now owns 14,295 shares of the construction company’s stock worth $762,000 after acquiring an additional 4,333 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Lennar Corporation by 17.9% in the 2nd quarter. Victory Capital Management Inc. now owns 33,473 shares of the construction company’s stock worth $1,785,000 after acquiring an additional 5,083 shares during the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.
Lennar Corporation Company Profile
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 & Stock Ratings for Lennar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Corporation and related stocks with our FREE daily email newsletter.