Lennar Corporation (NYSE:LEN) Receives $92.13 Average Target Price from Brokerages

Lennar Corporation (NYSE:LENGet Free Report) has been given an average rating of “Reduce” by the eighteen brokerages that are covering the firm, MarketBeat reports. Ten research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $92.1333.

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reissued a “neutral” rating on shares of Lennar in a report on Friday, June 5th. Wells Fargo & Company cut their target price on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, June 15th. Bank of America lowered their price target on shares of Lennar from $84.00 to $77.00 and set an “underperform” rating on the stock in a research report on Friday, June 12th. Barclays dropped their price target on shares of Lennar from $80.00 to $79.00 and set an “underweight” rating on the stock in a research note on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lennar in a report on Thursday, June 11th.

View Our Latest Stock Report on LEN

Institutional Trading of Lennar

A number of institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its position in Lennar by 7.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock valued at $141,000 after purchasing an additional 85 shares during the period. Rossby Financial LCC lifted its position in shares of Lennar by 9.1% in the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock worth $109,000 after purchasing an additional 88 shares during the period. New Mexico Educational Retirement Board lifted its position in shares of Lennar by 1.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock worth $1,086,000 after purchasing an additional 100 shares during the period. KDT Advisors LLC boosted its stake in shares of Lennar by 2.7% during the 3rd quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock valued at $587,000 after purchasing an additional 123 shares in the last quarter. Finally, KCM Investment Advisors LLC increased its position in shares of Lennar by 1.3% during the first quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company’s stock valued at $858,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 0.1%

NYSE:LEN opened at $86.77 on Monday. Lennar has a 12 month low of $79.82 and a 12 month high of $144.24. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $87.11 and its 200 day moving average is $93.94. The stock has a market capitalization of $20.90 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 2.88 and a beta of 1.39.

Lennar (NYSE:LENGet Free Report) last announced its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. The business had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. Lennar had a return on equity of 7.08% and a net margin of 4.93%.Lennar’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.81 earnings per share. Sell-side analysts expect that Lennar will post 5.52 earnings per share for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, July 10th. Lennar’s dividend payout ratio (DPR) is presently 31.30%.

About Lennar

(Get Free Report)

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.

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Analyst Recommendations for Lennar (NYSE:LEN)

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