Citigroup Cuts Lennar (NYSE:LEN) Price Target to $104.00

Lennar (NYSE:LEN) had its price objective trimmed by Citigroup from $113.00 to $104.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Lennar from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday. Truist Financial decreased their target price on shares of Lennar from $110.00 to $95.00 and set a “hold” rating for the company in a research report on Monday. Wall Street Zen downgraded shares of Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. Zacks Research lowered shares of Lennar from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Finally, Royal Bank Of Canada set a $88.00 price objective on shares of Lennar in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, Lennar presently has an average rating of “Reduce” and a consensus price target of $102.07.

Lennar Price Performance

LEN opened at $93.62 on Tuesday. The stock has a fifty day moving average price of $111.64 and a 200 day moving average price of $118.67. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. Lennar has a 1 year low of $92.17 and a 1 year high of $144.24. The stock has a market cap of $23.12 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.99 and a beta of 1.43.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.07). The firm had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.14 earnings per share. Analysts forecast that Lennar will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.1%. The ex-dividend date was Wednesday, February 4th. Lennar’s dividend payout ratio (DPR) is 28.74%.

Institutional Trading of Lennar

Large investors have recently modified their holdings of the company. Guerra Advisors Inc acquired a new position in Lennar in the 3rd quarter valued at $25,000. KERR FINANCIAL PLANNING Corp acquired a new position in Lennar during the 3rd quarter worth $25,000. Redmont Wealth Advisors LLC bought a new stake in Lennar during the third quarter valued at about $26,000. High Point Wealth Management LLC acquired a new stake in shares of Lennar in the fourth quarter valued at about $31,000. Finally, DV Equities LLC bought a new position in shares of Lennar in the fourth quarter worth about $31,000. 81.10% of the stock is owned by institutional investors.

About Lennar

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.