Royal Bank of Canada Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price target dropped by equities researchers at Royal Bank of Canada from $125.00 to $122.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 6.00% from the stock’s current price.

A number of other analysts also recently issued reports on LEN. Seaport Res Ptn upgraded shares of Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. The Goldman Sachs Group cut their target price on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, December 23rd. Keefe, Bruyette & Woods lowered Lennar from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $152.00 to $141.00 in a research note on Tuesday, March 11th. Wolfe Research downgraded Lennar from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, January 8th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $131.00 target price (down previously from $159.00) on shares of Lennar in a research report on Monday. Fifteen research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $156.60.

Lennar Price Performance

LEN stock opened at $115.09 on Monday. Lennar has a 1 year low of $111.26 and a 1 year high of $187.61. The firm has a market capitalization of $30.56 billion, a PE ratio of 8.03, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The business has a 50 day simple moving average of $126.09 and a 200-day simple moving average of $153.13.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Thursday, March 20th. The construction company reported $2.14 EPS for the quarter, topping the consensus estimate of $1.70 by $0.44. Lennar had a return on equity of 13.93% and a net margin of 11.10%. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the previous year, the firm earned $2.57 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities research analysts anticipate that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Trading of Lennar

Hedge funds have recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in shares of Lennar in the 4th quarter valued at $25,000. Armstrong Advisory Group Inc. raised its stake in Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. Hurley Capital LLC purchased a new stake in Lennar during the 4th quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Lennar in the 4th quarter valued at about $28,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Lennar during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

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, Financial Services, Multifamily, and Lennar Other 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; and development, construction, and management of multifamily rental properties.