Lennar (LEN) PT Lowered to $58.00

Lennar (NYSE:LEN) had its target price lowered by Bank of America from $60.00 to $58.00 in a report issued on Thursday. The brokerage currently has a buy rating on the construction company’s stock.

A number of other brokerages also recently issued reports on LEN. Barclays set a $63.00 price target on shares of Lennar and gave the stock a buy rating in a report on Friday, September 14th. Mizuho set a $65.00 price target on shares of Lennar and gave the stock a buy rating in a report on Tuesday, October 2nd. ValuEngine downgraded shares of Lennar from a sell rating to a strong sell rating in a report on Tuesday, October 2nd. Wedbush reissued a neutral rating on shares of Lennar in a report on Monday, October 1st. Finally, Deutsche Bank upped their price objective on shares of Lennar to $56.00 and gave the stock a buy rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seventeen have given a buy rating to the company. Lennar currently has a consensus rating of Buy and an average price target of $60.19.

NYSE LEN traded up $1.24 during mid-day trading on Thursday, reaching $46.41. 5,361,486 shares of the stock were exchanged, compared to its average volume of 6,242,648. Lennar has a 1 year low of $37.29 and a 1 year high of $72.17. The company has a market capitalization of $15.29 billion, a PE ratio of 7.31, a price-to-earnings-growth ratio of 0.43 and a beta of 1.17. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.72 and a current ratio of 12.62.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, January 9th. The construction company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.91 by $0.05. Lennar had a net margin of 8.24% and a return on equity of 14.02%. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.46 billion. During the same period in the prior year, the firm posted $1.29 earnings per share. The firm’s quarterly revenue was up 70.7% compared to the same quarter last year. On average, equities analysts expect that Lennar will post 6.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 25th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Thursday, January 24th. Lennar’s dividend payout ratio is presently 2.52%.

In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $40.03, for a total transaction of $800,600.00. Following the completion of the transaction, the chief operating officer now directly owns 171,014 shares in the company, valued at $6,845,690.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Worth Venture Partners LLC acquired a new stake in shares of Lennar in the third quarter valued at about $106,000. D.A. Davidson & CO. acquired a new stake in shares of Lennar in the third quarter valued at about $206,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Lennar in the third quarter valued at about $233,000. Cerebellum GP LLC raised its position in shares of Lennar by 65.6% in the fourth quarter. Cerebellum GP LLC now owns 6,294 shares of the construction company’s stock valued at $246,000 after buying an additional 2,494 shares during the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Lennar in the third quarter valued at about $261,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.

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