Lennar Corporation (NYSE:LEN) Receives $121.77 Consensus Price Target from Analysts

Shares of Lennar Corporation (NYSE:LEN) have earned a consensus rating of “Hold” from the nineteen research firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $121.5385.

LEN has been the topic of several analyst reports. Raymond James Financial lowered shares of Lennar from a “market perform” rating to an “underperform” rating in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lennar in a report on Wednesday, October 8th. Citigroup reissued an “outperform” rating on shares of Lennar in a report on Monday, September 22nd. BTIG Research started coverage on Lennar in a research note on Tuesday. They issued a “sell” rating and a $96.00 price objective on the stock. Finally, Bank of America lowered their target price on Lennar from $133.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday, October 10th.

Institutional Investors Weigh In On Lennar

Several hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC increased its holdings in Lennar by 7.1% in the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after purchasing an additional 85 shares in the last quarter. Zions Bancorporation National Association UT increased its stake in shares of Lennar by 8.3% in the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock valued at $142,000 after buying an additional 86 shares during the period. RFG Advisory LLC raised its holdings in Lennar by 2.1% in the 3rd quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock valued at $536,000 after buying an additional 87 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Lennar by 1.2% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,719 shares of the construction company’s stock worth $886,000 after buying an additional 89 shares during the period. Finally, UMB Bank n.a. grew its holdings in Lennar by 6.2% during the 3rd quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock worth $201,000 after acquiring an additional 93 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Stock Performance

NYSE:LEN opened at $124.01 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 4.49. Lennar has a fifty-two week low of $98.42 and a fifty-two week high of $169.00. The company has a market cap of $31.63 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 5.37 and a beta of 1.38. The stock has a fifty day moving average price of $124.39 and a 200-day moving average price of $120.82.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, September 18th. The construction company reported $2.00 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.14). Lennar had a return on equity of 11.09% and a net margin of 7.72%.The firm had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. During the same period in the prior year, the company earned $3.90 EPS. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that Lennar will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Investors of record on Friday, October 10th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $2.00 annualized dividend and a yield of 1.6%. Lennar’s dividend payout ratio is presently 19.76%.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.