Lennar Corporation (LEN) Receives Consensus Rating of “Hold” from Analysts
Lennar Corporation (NYSE:LEN) has received a consensus recommendation of “Hold” from the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $58.00.
Several equities research analysts recently issued reports on LEN shares. Zacks Investment Research cut shares of Lennar from a “buy” rating to a “hold” rating in a report on Monday, September 18th. JMP Securities upgraded shares of Lennar from a “market perform” rating to an “outperform” rating in a report on Monday, November 6th. MKM Partners restated a “neutral” rating on shares of Lennar in a report on Tuesday, September 5th. BTIG Research raised their target price on shares of Lennar from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Finally, Mizuho restated a “hold” rating and issued a $53.00 target price on shares of Lennar in a report on Friday, October 27th.
Lennar (LEN) traded up $0.79 during trading hours on Thursday, hitting $61.54. 4,147,842 shares of the stock were exchanged, compared to its average volume of 2,407,534. Lennar has a 1 year low of $41.83 and a 1 year high of $61.58. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $14,355.57, a PE ratio of 15.65, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31.
Lennar (NYSE:LEN) last issued its earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.05. Lennar had a net margin of 6.65% and a return on equity of 12.37%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. During the same quarter last year, the company posted $1.01 earnings per share. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. sell-side analysts forecast that Lennar will post 4.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Thursday, October 19th were given a $0.04 dividend. The ex-dividend date was Wednesday, October 18th. This represents a $0.16 annualized dividend and a yield of 0.26%. Lennar’s payout ratio is presently 4.61%.
In other Lennar news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now directly owns 371,043 shares in the company, valued at $22,262,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.18% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in Lennar by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,516,323 shares of the construction company’s stock worth $400,771,000 after acquiring an additional 386,110 shares during the period. Greenhaven Associates Inc. raised its position in shares of Lennar by 0.9% during the 2nd quarter. Greenhaven Associates Inc. now owns 5,420,516 shares of the construction company’s stock valued at $289,022,000 after purchasing an additional 46,200 shares during the period. Principal Financial Group Inc. raised its position in shares of Lennar by 25.0% during the 2nd quarter. Principal Financial Group Inc. now owns 3,129,708 shares of the construction company’s stock valued at $166,876,000 after purchasing an additional 625,329 shares during the period. Alliancebernstein L.P. raised its position in shares of Lennar by 9.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,295,966 shares of the construction company’s stock valued at $122,421,000 after purchasing an additional 201,379 shares during the period. Finally, Smead Capital Management Inc. raised its position in shares of Lennar by 43.3% during the 2nd quarter. Smead Capital Management Inc. now owns 1,866,187 shares of the construction company’s stock valued at $99,505,000 after purchasing an additional 564,085 shares during the period. Institutional investors and hedge funds own 81.34% of the company’s stock.
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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