Lennar Co. (NYSE:LEN) Receives $56.94 Consensus Target Price from Analysts

Lennar Co. (NYSE:LEN) has earned an average recommendation of “Buy” from the twenty-two brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $56.39.

A number of equities research analysts have weighed in on the stock. ValuEngine downgraded shares of Lennar from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. BTIG Research set a $65.00 price objective on shares of Lennar and gave the company a “buy” rating in a research note on Wednesday, June 26th. Raymond James lowered shares of Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price objective for the company. in a research note on Tuesday, June 18th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Lennar from a “hold” rating to a “sell” rating and set a $53.00 price objective for the company. in a research note on Thursday, May 30th. Finally, Susquehanna Bancshares reaffirmed a “neutral” rating and set a $57.00 price objective (down from $64.00) on shares of Lennar in a research note on Wednesday, April 17th.

In other news, President Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $49.04, for a total value of $980,800.00. Following the completion of the sale, the president now directly owns 346,946 shares of the company’s stock, valued at $17,014,231.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.43% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its holdings in shares of Lennar by 10.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,934 shares of the construction company’s stock valued at $506,000 after acquiring an additional 1,186 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Lennar in the first quarter valued at about $1,069,000. Virtu Financial LLC lifted its stake in shares of Lennar by 148.4% in the first quarter. Virtu Financial LLC now owns 16,397 shares of the construction company’s stock valued at $805,000 after purchasing an additional 9,795 shares during the period. Landsberg Bennett & Dubbaneh LLC acquired a new stake in shares of Lennar in the first quarter valued at about $743,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Lennar in the first quarter valued at about $65,000. 85.65% of the stock is owned by institutional investors and hedge funds.

NYSE LEN traded down $0.27 on Friday, reaching $49.14. The company’s stock had a trading volume of 46,978 shares, compared to its average volume of 3,407,221. Lennar has a twelve month low of $37.29 and a twelve month high of $54.50. The company has a current ratio of 13.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $15.87 billion, a PE ratio of 7.75, a PEG ratio of 1.08 and a beta of 1.14. The business has a 50 day moving average price of $48.06.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.17. Lennar had a net margin of 8.86% and a return on equity of 12.03%. The company had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same period in the prior year, the company earned $1.58 EPS. Lennar’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Lennar will post 5.31 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Wednesday, July 10th. Lennar’s dividend payout ratio is presently 2.52%.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.

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Analyst Recommendations for Lennar (NYSE:LEN)

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