Analysts Set Lennar Corporation (NYSE:LEN) Price Target at $92.13

Lennar Corporation (NYSE:LEN) has earned an average recommendation of “Reduce” from the eighteen ratings firms that are presently covering the company, MarketBeat reports. Ten analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $92.1333.

Several brokerages recently commented on LEN. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lennar in a research note on Thursday, June 11th. Truist Financial cut their price target on shares of Lennar from $90.00 to $80.00 and set a “hold” rating for the company in a report on Thursday, August 6th. UBS Group decreased their price target on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a report on Tuesday, June 16th. Argus set a $108.00 price objective on Lennar in a research report on Thursday, July 9th. Finally, Evercore upped their target price on Lennar from $82.00 to $87.00 and gave the stock an “underperform” rating in a research note on Monday, June 15th.

Lennar Stock Performance

NYSE:LEN opened at $80.56 on Friday. The business’s fifty day moving average is $85.29 and its 200 day moving average is $90.27. The firm has a market cap of $19.41 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 2.78 and a beta of 1.39. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. Lennar has a 52-week low of $79.82 and a 52-week high of $141.84.

Lennar (NYSE:LEN) last issued its earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The business had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $8.08 billion. During the same quarter last year, the company earned $1.81 EPS. The firm’s revenue was down 5.2% compared to the same quarter last year. Research analysts predict that Lennar will post 5.52 EPS for the current year.

Lennar Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were issued a $0.50 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. Lennar’s dividend payout ratio (DPR) is currently 31.30%.

Hedge Funds Weigh In On Lennar

Hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC boosted its holdings in shares of Lennar by 7.1% during the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after purchasing an additional 85 shares during the period. Rossby Financial LCC lifted its holdings in Lennar by 9.1% in the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock worth $109,000 after buying an additional 88 shares during the period. New Mexico Educational Retirement Board grew its position in shares of Lennar by 1.0% in the 4th quarter. New Mexico Educational Retirement Board now owns 10,560 shares of the construction company’s stock worth $1,086,000 after buying an additional 100 shares during the last quarter. KDT Advisors LLC increased its stake in shares of Lennar by 2.7% during the third quarter. KDT Advisors LLC now owns 4,654 shares of the construction company’s stock valued at $587,000 after buying an additional 123 shares during the period. Finally, KCM Investment Advisors LLC raised its holdings in shares of Lennar by 1.3% during the first quarter. KCM Investment Advisors LLC now owns 9,879 shares of the construction company’s stock valued at $858,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

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.