Lennar (NYSE:LEN) PT Raised to $120.00

Lennar (NYSE:LEN) had its price target boosted by Wedbush from $110.00 to $120.00 in a report released on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Wedbush’s target price indicates a potential upside of 20.59% from the stock’s previous close. Wedbush also issued estimates for Lennar’s Q4 2021 earnings at $4.14 EPS, Q2 2022 earnings at $3.27 EPS, Q3 2022 earnings at $3.96 EPS and Q4 2022 earnings at $4.90 EPS.

LEN has been the topic of a number of other reports. Royal Bank of Canada boosted their price target on shares of Lennar from $100.00 to $102.00 and gave the company a “sector perform” rating in a research report on Wednesday. Zacks Investment Research lowered shares of Lennar from a “strong-buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research report on Wednesday, August 18th. JMP Securities boosted their price target on shares of Lennar from $120.00 to $130.00 and gave the company a “market outperform” rating in a research report on Friday, June 18th. Barclays boosted their price target on shares of Lennar from $105.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, June 18th. Finally, BTIG Research boosted their target price on shares of Lennar from $127.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Lennar presently has a consensus rating of “Buy” and a consensus target price of $111.56.

Shares of Lennar stock opened at $99.51 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.53 and a current ratio of 11.02. The firm’s 50-day simple moving average is $103.44 and its 200-day simple moving average is $100.42. Lennar has a twelve month low of $69.41 and a twelve month high of $110.61. The firm has a market cap of $31.18 billion, a P/E ratio of 9.22 and a beta of 1.50.

Lennar (NYSE:LEN) last issued its earnings results on Sunday, September 19th. The construction company reported $4.52 earnings per share for the quarter, beating the consensus estimate of $3.27 by $1.25. The business had revenue of $6.94 billion for the quarter, compared to analyst estimates of $7.26 billion. Lennar had a net margin of 13.83% and a return on equity of 16.82%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 EPS. On average, equities analysts forecast that Lennar will post 12.7 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Lennar by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 9,675,131 shares of the construction company’s stock worth $961,225,000 after buying an additional 381,936 shares during the last quarter. Maj Invest Holding A S grew its holdings in Lennar by 38.5% during the second quarter. Maj Invest Holding A S now owns 3,876,509 shares of the construction company’s stock valued at $385,129,000 after purchasing an additional 1,077,964 shares during the period. Smead Capital Management Inc. grew its holdings in Lennar by 14.1% during the second quarter. Smead Capital Management Inc. now owns 1,640,246 shares of the construction company’s stock valued at $162,958,000 after purchasing an additional 202,219 shares during the period. GQG Partners LLC acquired a new position in Lennar during the second quarter valued at approximately $150,197,000. Finally, AQR Capital Management LLC grew its holdings in Lennar by 64.7% during the second quarter. AQR Capital Management LLC now owns 1,165,291 shares of the construction company’s stock valued at $115,771,000 after purchasing an additional 457,922 shares during the period. 80.87% of the stock is owned by institutional investors and hedge funds.

Lennar Company Profile

Lennar Corp. is a homebuilder company, which engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other.

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