Lennar Corporation (NYSE:LEN) Receives $106.38 Consensus Target Price from Analysts

Shares of Lennar Corporation (NYSE:LEN) have been assigned an average recommendation of “Reduce” from the eighteen analysts that are covering the company, Marketbeat reports. Eight investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $106.3846.

Several brokerages have recently issued reports on LEN. Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 8th. Wall Street Zen downgraded shares of Lennar from a “hold” rating to a “sell” rating in a research report on Monday, December 8th. Barclays lowered their price target on shares of Lennar from $98.00 to $88.00 and set an “underweight” rating for the company in a research report on Thursday, December 18th. Citizens Jmp reaffirmed a “market perform” rating on shares of Lennar in a research note on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Lennar from $125.00 to $115.00 and set a “market perform” rating for the company in a research report on Thursday, December 18th.

Lennar Trading Up 0.2%

Shares of NYSE LEN opened at $116.32 on Monday. Lennar has a 1-year low of $98.42 and a 1-year high of $144.24. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $113.05 and a two-hundred day moving average of $122.05. The company has a market cap of $28.73 billion, a PE ratio of 14.56, a P/E/G ratio of 1.69 and a beta of 1.44.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.27). The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.03 EPS. As a group, equities analysts expect that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Wednesday, February 4th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Wednesday, February 4th. Lennar’s dividend payout ratio is currently 25.03%.

Institutional Trading of Lennar

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Concurrent Investment Advisors LLC boosted its stake in shares of Lennar by 73.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 10,702 shares of the construction company’s stock worth $1,349,000 after buying an additional 4,548 shares during the last quarter. denkapparat Operations GmbH acquired a new position in Lennar during the second quarter valued at approximately $408,000. Longfellow Investment Management Co. LLC bought a new position in Lennar in the second quarter valued at approximately $441,000. Swiss National Bank increased its position in shares of Lennar by 4.3% during the 2nd quarter. Swiss National Bank now owns 702,872 shares of the construction company’s stock worth $77,745,000 after purchasing an additional 29,300 shares during the last quarter. Finally, Cibc World Market Inc. raised its stake in shares of Lennar by 993.0% during the 3rd quarter. Cibc World Market Inc. now owns 129,487 shares of the construction company’s stock worth $16,321,000 after purchasing an additional 117,640 shares in the last quarter. 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.