Lennar Corporation (NYSE:LEN) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Lennar Corporation (NYSE:LEN) have earned an average rating of “Reduce” from the eighteen brokerages that are covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $95.00.

LEN has been the subject of several recent analyst reports. Evercore upped their target price on shares of Lennar from $82.00 to $87.00 and gave the stock an “underperform” rating in a research report on Monday, June 15th. JPMorgan Chase & Co. decreased their target price on shares of Lennar from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Tuesday, June 16th. Argus decreased their target price on shares of Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Wells Fargo & Company decreased 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. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lennar in a research note on Thursday, June 11th.

Institutional Trading of Lennar

A number of institutional investors have recently made changes to their positions in the stock. Lazard Asset Management LLC lifted its stake in shares of 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 acquiring an additional 85 shares during the period. Rossby Financial LCC lifted its stake 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 acquiring an additional 88 shares during the period. New Mexico Educational Retirement Board lifted its stake in Lennar by 1.0% during the fourth quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock valued at $1,086,000 after purchasing an additional 100 shares during the last quarter. Provenance Wealth Advisors LLC lifted its stake in Lennar by 23.8% during the third quarter. Provenance Wealth Advisors LLC now owns 619 shares of the construction company’s stock valued at $78,000 after purchasing an additional 119 shares during the last quarter. Finally, One Wealth Capital Management LLC lifted its stake in Lennar by 6.4% during the third quarter. One Wealth Capital Management LLC now owns 1,972 shares of the construction company’s stock valued at $249,000 after purchasing an additional 119 shares during the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Lennar Price Performance

NYSE LEN opened at $93.78 on Friday. Lennar has a 52 week low of $81.18 and a 52 week 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 stock has a market cap of $23.16 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 3.05 and a beta of 1.39. The company has a 50-day moving average price of $89.68 and a two-hundred day moving average price of $100.67.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The firm had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $8.08 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. Lennar’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts forecast that Lennar will post 5.58 EPS for the current year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, July 10th. Lennar’s dividend payout ratio is currently 31.30%.

Lennar Company Profile

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.