Royal Bank of Canada Analysts Give Lennar (LEN) a $82.00 Price Target
Lennar (NYSE:LEN) has been given a $82.00 target price by stock analysts at Royal Bank of Canada in a research note issued on Friday. The firm presently has a “buy” rating on the construction company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 18.39% from the company’s current price.
Several other research analysts also recently commented on the stock. Credit Suisse Group reaffirmed a “neutral” rating and issued a $65.00 price objective (up from $57.00) on shares of Lennar in a report on Thursday, January 11th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $78.00 price target on shares of Lennar in a report on Thursday, January 11th. Zacks Investment Research raised shares of Lennar from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Wedbush set a $60.00 price target on shares of Lennar and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, Wells Fargo & Co raised shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price target for the company in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $62.53.
Lennar (LEN) traded down $0.31 on Friday, reaching $69.26. 3,791,900 shares of the company traded hands, compared to its average volume of 5,103,844. The company has a market cap of $16,150.00, a P/E ratio of 19.96, a PEG ratio of 1.07 and a beta of 1.35. Lennar has a 52 week low of $43.46 and a 52 week high of $70.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76.
Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.21). The business had revenue of $3.79 billion during the quarter, compared to the consensus estimate of $3.59 billion. Lennar had a return on equity of 12.22% and a net margin of 6.41%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $1.34 earnings per share. equities analysts anticipate that Lennar will post 5.02 earnings per share for the current year.
In other news, CFO Bruce E. Gross sold 5,000 shares of Lennar stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $64.02, for a total transaction of $1,280,400.00. Following the sale, the chief operating officer now directly owns 99,000 shares of the company’s stock, valued at $6,337,980. The disclosure for this sale can be found here. Insiders own 12.18% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fishman Jay A Ltd. MI bought a new stake in shares of Lennar during the 3rd quarter worth $1,771,000. Rational Advisors LLC bought a new stake in shares of Lennar during the 3rd quarter worth $1,438,000. Bank of Nova Scotia lifted its holdings in shares of Lennar by 71.8% during the 2nd quarter. Bank of Nova Scotia now owns 79,890 shares of the construction company’s stock worth $4,260,000 after acquiring an additional 33,388 shares during the last quarter. Parkwood LLC bought a new stake in shares of Lennar during the 3rd quarter worth $3,969,000. Finally, Toronto Dominion Bank lifted its holdings in shares of Lennar by 25.5% during the 2nd quarter. Toronto Dominion Bank now owns 68,832 shares of the construction company’s stock worth $3,669,000 after acquiring an additional 13,992 shares during the last quarter. 81.25% of the stock is owned by institutional investors.
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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