Lennar Corporation (LEN) Price Target Increased to $65.00 by Analysts at Bank of America Corporation
Lennar Corporation (NYSE:LEN) had its target price lifted by Bank of America Corporation from $63.00 to $65.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “buy” rating on the construction company’s stock. Bank of America Corporation’s price target would indicate a potential upside of 17.43% from the stock’s previous close.
Other analysts also recently issued reports about the company. Argus reaffirmed a “buy” rating and set a $60.00 price target (up from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Mizuho cut Lennar Corporation from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $59.00 to $53.00 in a research note on Tuesday, September 19th. MKM Partners raised Lennar Corporation from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday. Citigroup Inc. increased their price target on shares of Lennar Corporation from $57.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Zacks Investment Research cut shares of Lennar Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $57.63.
Shares of Lennar Corporation (LEN) traded up 1.28% on Wednesday, reaching $56.06. The company had a trading volume of 2,242,227 shares. Lennar Corporation has a 52 week low of $39.68 and a 52 week high of $56.18. The company has a market capitalization of $13.15 billion, a P/E ratio of 16.39 and a beta of 1.22. The company has a 50 day moving average of $51.62 and a 200-day moving average of $52.02.
Lennar Corporation (NYSE:LEN) last posted its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.01 by $0.05. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. Analysts predict that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of LEN. D.A. Davidson & CO. grew its holdings in shares of Lennar Corporation by 8.9% in the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after acquiring an additional 155 shares during the period. Commonwealth Bank of Australia raised its holdings in Lennar Corporation by 32.4% during the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after purchasing an additional 530 shares during the last quarter. Washington Trust Bank raised its holdings in Lennar Corporation by 47.6% during the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock worth $131,000 after purchasing an additional 794 shares during the last quarter. QS Investors LLC raised its holdings in Lennar Corporation by 1.0% during the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after purchasing an additional 25 shares during the last quarter. Finally, MUFG Americas Holdings Corp raised its holdings in Lennar Corporation by 7.3% during the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.
About Lennar Corporation
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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