Lennar Corporation (NYSE:LEN) Receives $121.75 Consensus PT from Brokerages

Shares of Lennar Corporation (NYSE:LEN) have earned an average recommendation of “Hold” from the nineteen analysts that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $121.75.

Several brokerages have commented on LEN. The Goldman Sachs Group lifted their price target on Lennar from $122.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. lowered their price objective on Lennar from $97.00 to $92.00 and set a “neutral” rating on the stock in a research report on Monday, September 22nd. Bank of America lowered their price objective on Lennar from $133.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, October 10th. Finally, JMP Securities boosted their price objective on Lennar from $130.00 to $140.00 and gave the company a “market outperform” rating in a research report on Monday, September 22nd.

Lennar Stock Performance

Shares of NYSE LEN opened at $125.87 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 4.49 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $129.71 and its two-hundred day moving average is $116.87. The company has a market cap of $32.10 billion, a P/E ratio of 12.44, a P/E/G ratio of 5.85 and a beta of 1.37. Lennar has a 12 month low of $98.42 and a 12 month high of $188.08.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.14 by $0.15. The company had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $9.01 billion. Lennar had a return on equity of 11.09% and a net margin of 7.72%.The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.90 EPS. On average, equities analysts expect that Lennar will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Friday, October 10th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, October 10th. Lennar’s dividend payout ratio is 19.76%.

Institutional Trading of Lennar

A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its position in Lennar by 45.4% in the first quarter. The Manufacturers Life Insurance Company now owns 8,894,125 shares of the construction company’s stock valued at $1,020,866,000 after acquiring an additional 2,777,567 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Lennar in the second quarter valued at $424,950,000. Viking Global Investors LP grew its position in Lennar by 86.7% in the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after acquiring an additional 1,172,068 shares during the period. Brave Warrior Advisors LLC grew its position in Lennar by 23.4% in the first quarter. Brave Warrior Advisors LLC now owns 2,189,608 shares of the construction company’s stock valued at $251,323,000 after acquiring an additional 415,218 shares during the period. Finally, Eminence Capital LP grew its position in Lennar by 130.8% in the first quarter. Eminence Capital LP now owns 1,581,489 shares of the construction company’s stock valued at $181,523,000 after acquiring an additional 896,264 shares during the period. 81.10% of the stock is currently owned by institutional investors.

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.