Lennar Corp. (LEN) Now Covered by Wedbush
Wedbush began coverage on shares of Lennar Corp. (NYSE:LEN) in a research note issued to investors on Monday. The brokerage set a “neutral” rating and a $46.00 price target on the stock. Wedbush’s price objective would suggest a potential upside of 5.75% from the company’s current price.
LEN has been the topic of a number of other reports. Argus assumed coverage on Lennar Corp. in a research report on Tuesday, July 5th. They issued a “buy” rating and a $59.00 price objective on the stock. Credit Suisse Group AG reiterated a “hold” rating on shares of Lennar Corp. in a research report on Tuesday, June 28th. MKM Partners set a $52.00 price objective on Lennar Corp. and gave the stock a “hold” rating in a research report on Wednesday, September 14th. Zacks Investment Research lowered Lennar Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. Finally, FBR & Co restated an “outperform” rating and set a $60.00 price target on shares of Lennar Corp. in a research report on Wednesday, June 22nd. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $54.53.
Shares of Lennar Corp. (NYSE:LEN) opened at 43.50 on Monday. The firm’s 50-day moving average is $46.34 and its 200 day moving average is $46.48. The firm has a market capitalization of $9.53 billion, a P/E ratio of 11.61 and a beta of 1.37. Lennar Corp. has a one year low of $37.14 and a one year high of $52.50.
Lennar Corp. (NYSE:LEN) last issued its quarterly earnings data on Tuesday, September 20th. The company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.13. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.69 billion. Lennar Corp. had a return on equity of 14.41% and a net margin of 8.52%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the company earned $0.96 EPS. Equities research analysts predict that Lennar Corp. will post $3.82 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC boosted its stake in Lennar Corp. by 492.9% in the second quarter. Ropes Wealth Advisors LLC now owns 2,591 shares of the company’s stock worth $119,000 after buying an additional 2,154 shares during the period. Mizuho Asset Management Co. Ltd. boosted its stake in Lennar Corp. by 160.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,767 shares of the company’s stock worth $128,000 after buying an additional 1,705 shares during the period. Pacer Advisors Inc. boosted its stake in Lennar Corp. by 18.9% in the second quarter. Pacer Advisors Inc. now owns 3,211 shares of the company’s stock worth $148,000 after buying an additional 510 shares during the period. Tower Research Capital LLC TRC boosted its stake in Lennar Corp. by 1,971.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,432 shares of the company’s stock worth $204,000 after buying an additional 4,218 shares during the period. Finally, Chartist Inc. CA purchased a new stake in Lennar Corp. during the second quarter worth approximately $206,000. Institutional investors own 86.39% of the company’s stock.
Lennar Corp. Company Profile
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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