Lennar Corporation (NYSE:LEN) Receives $99.87 Average Price Target from Analysts

Lennar Corporation (NYSE:LEN) has been given an average rating of “Reduce” by the nineteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $99.8667.

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Lennar from a “strong sell” rating to a “hold” rating in a report on Thursday, March 19th. Barclays reduced their price objective on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating for the company in a report on Wednesday, April 8th. Argus reduced their price objective on shares of Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Keefe, Bruyette & Woods reduced their price objective on shares of Lennar from $105.00 to $97.00 and set a “market perform” rating for the company in a report on Wednesday, April 1st. Finally, UBS Group reduced their price objective on shares of Lennar from $122.00 to $107.00 and set a “neutral” rating for the company in a report on Monday, March 16th.

Lennar Price Performance

Shares of Lennar stock opened at $89.95 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. Lennar has a fifty-two week low of $81.18 and a fifty-two week high of $144.24. The firm has a fifty day moving average price of $89.14 and a two-hundred day moving average price of $105.38. The company has a market cap of $22.22 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). The company had revenue of $6.62 billion during the quarter, compared to the consensus estimate of $6.90 billion. Lennar had a net margin of 5.39% and a return on equity of 7.80%. Lennar’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period last year, the company earned $2.14 earnings per share. Analysts expect that Lennar will post 5.87 EPS for the current year.

Lennar Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a $0.50 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. Lennar’s payout ratio is 28.74%.

Institutional Trading of Lennar

Large investors have recently added to or reduced their stakes in the company. Cibc World Market Inc. grew its stake in Lennar by 993.0% during the third quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after buying an additional 117,640 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Lennar by 5.9% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 466,027 shares of the construction company’s stock valued at $58,738,000 after acquiring an additional 26,117 shares in the last quarter. Boothbay Fund Management LLC increased its position in Lennar by 201.1% in the 3rd quarter. Boothbay Fund Management LLC now owns 24,004 shares of the construction company’s stock valued at $3,025,000 after acquiring an additional 16,031 shares in the last quarter. Tounjian Advisory Partners LLC acquired a new stake in Lennar in the 4th quarter valued at about $2,599,000. Finally, Coronation Fund Managers Ltd. acquired a new stake in Lennar in the 3rd quarter valued at about $14,160,000. 81.10% of the stock is owned by institutional investors.

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.