Lennar Corporation (NYSE:LEN) Receives $92.80 Average Target Price from Brokerages

Lennar Corporation (NYSE:LEN) has received an average rating of “Reduce” from the eighteen analysts that are currently covering the firm, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $92.80.

LEN has been the subject of several analyst reports. BTIG Research set a $67.00 price target on shares of Lennar in a research report on Monday, June 15th. Citigroup lowered their price objective on Lennar from $104.00 to $88.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 15th. Bank of America reduced their target price on Lennar from $84.00 to $77.00 and set an “underperform” rating for the company in a report on Friday, June 12th. Wells Fargo & Company decreased their price target on Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a research note on Monday, June 15th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Lennar in a research report on Friday, June 5th.

Lennar Stock Performance

Shares of Lennar stock opened at $83.03 on Thursday. Lennar has a 1 year low of $81.18 and a 1 year high of $144.24. The firm’s 50-day moving average is $88.15 and its 200 day moving average is $97.67. The stock has a market cap of $20.00 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 2.79 and a beta of 1.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91.

Lennar (NYSE:LEN) last released its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. Lennar’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business earned $1.81 EPS. Sell-side analysts anticipate that Lennar will post 5.52 EPS for the current fiscal year.

Lennar Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, July 10th. This represents a $2.00 annualized dividend and a yield of 2.4%. Lennar’s dividend payout ratio is currently 31.30%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC lifted its position in Lennar by 27.9% during the fourth quarter. Brighton Jones LLC now owns 1,727 shares of the construction company’s stock valued at $236,000 after purchasing an additional 377 shares during the period. Intech Investment Management LLC grew its position in Lennar by 29.8% in the 1st quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock worth $1,589,000 after purchasing an additional 3,177 shares during the period. Jump Financial LLC raised its stake in Lennar by 15.0% during the 2nd quarter. Jump Financial LLC now owns 25,622 shares of the construction company’s stock valued at $2,834,000 after buying an additional 3,345 shares during the last quarter. Cary Street Partners Financial LLC bought a new position in shares of Lennar during the 2nd quarter valued at $47,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Lennar by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 34,958 shares of the construction company’s stock worth $3,867,000 after buying an additional 1,544 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other 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.