Lennar Corporation’s (LEN) “Neutral” Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of Lennar Corporation (NYSE:LEN) in a report released on Thursday morning. They currently have a $46.00 target price on the construction company’s stock.

A number of other brokerages also recently weighed in on LEN. Zacks Investment Research raised shares of Lennar Corporation from a hold rating to a buy rating and set a $58.00 target price for the company in a research note on Friday, March 17th. Royal Bank Of Canada reaffirmed an outperform rating and set a $60.00 target price (up previously from $53.00) on shares of Lennar Corporation in a research note on Monday, March 20th. Mizuho began coverage on shares of Lennar Corporation in a research note on Tuesday, May 16th. They set a buy rating and a $59.00 target price for the company. J P Morgan Chase & Co raised their target price on shares of Lennar Corporation from $44.50 to $49.00 and gave the company a neutral rating in a research note on Wednesday, March 22nd. Finally, Deutsche Bank AG decreased their target price on shares of Lennar Corporation from $52.00 to $49.00 and set a hold rating for the company in a research note on Thursday, March 23rd. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $54.19.

Shares of Lennar Corporation (LEN) opened at 54.22 on Thursday. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 15.68 and a beta of 1.32. The firm’s 50-day moving average price is $51.58 and its 200-day moving average price is $48.57. Lennar Corporation has a one year low of $39.68 and a one year high of $55.50.

Lennar Corporation (NYSE:LEN) last announced its earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.12. Lennar Corporation had a net margin of 7.14% and a return on equity of 13.13%. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. Analysts anticipate that Lennar Corporation will post $3.82 earnings per share for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Beaumont Financial Partners LLC boosted its position in shares of Lennar Corporation by 0.9% in the first quarter. Beaumont Financial Partners LLC now owns 9,008 shares of the construction company’s stock valued at $461,000 after buying an additional 80 shares in the last quarter. Norman Fields Gottscho Capital Management LLC boosted its position in shares of Lennar Corporation by 1.3% in the first quarter. Norman Fields Gottscho Capital Management LLC now owns 7,775 shares of the construction company’s stock valued at $398,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Lennar Corporation by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the construction company’s stock valued at $640,000 after buying an additional 100 shares in the last quarter. Compton Capital Management Inc. RI boosted its position in shares of Lennar Corporation by 0.5% in the first quarter. Compton Capital Management Inc. RI now owns 18,700 shares of the construction company’s stock valued at $957,000 after buying an additional 100 shares in the last quarter. Finally, Cleararc Capital Inc. boosted its position in shares of Lennar Corporation by 3.5% in the first quarter. Cleararc Capital Inc. now owns 4,946 shares of the construction company’s stock valued at $253,000 after buying an additional 167 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

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.

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