Citigroup Cuts Lennar (NYSE:LEN) Price Target to $113.00

Lennar (NYSE:LEN) had its price objective cut by stock analysts at Citigroup from $133.00 to $113.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. Citigroup’s price target suggests a potential upside of 3.24% from the stock’s current price.

Several other research analysts have also issued reports on LEN. The Goldman Sachs Group restated a “neutral” rating and set a $120.00 price target on shares of Lennar in a report on Thursday, December 18th. Wall Street Zen lowered shares of Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. JMP Securities upped their target price on Lennar from $130.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Monday, September 22nd. Bank of America reiterated an “underperform” rating and set a $95.00 target price (down from $125.00) on shares of Lennar in a report on Thursday, December 18th. Finally, Royal Bank Of Canada lowered shares of Lennar from a “sector perform” rating to an “underperform” rating and decreased their price target for the stock from $106.00 to $95.00 in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $106.54.

Lennar Trading Up 5.3%

Shares of LEN stock traded up $5.53 on Thursday, hitting $109.46. The stock had a trading volume of 2,977,104 shares, compared to its average volume of 3,208,821. The firm has a market cap of $27.91 billion, a P/E ratio of 13.71, a PEG ratio of 1.15 and a beta of 1.42. Lennar has a twelve month low of $98.42 and a twelve month high of $144.24. The company has a fifty day moving average price of $117.34 and a two-hundred day moving average price of $121.27. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last posted its quarterly earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.27). The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $4.03 EPS. As a group, analysts forecast that Lennar will post 12.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lennar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC raised its position in shares of Lennar by 36.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,897 shares of the construction company’s stock worth $606,000 after acquiring an additional 1,561 shares during the period. Tounjian Advisory Partners LLC acquired a new stake in shares of Lennar in the fourth quarter valued at $2,599,000. Asset Management Advisors LLC lifted its holdings in Lennar by 30.1% during the 4th quarter. Asset Management Advisors LLC now owns 71,542 shares of the construction company’s stock worth $7,355,000 after buying an additional 16,560 shares in the last quarter. Catherine Avery Investment Management LLC increased its stake in shares of Lennar by 13.3% during the fourth quarter. Catherine Avery Investment Management LLC now owns 31,545 shares of the construction company’s stock worth $3,243,000 after buying an additional 3,702 shares during the period. Finally, AIA Group Ltd boosted its position in shares of Lennar by 134.5% during the 3rd quarter. AIA Group Ltd now owns 23,124 shares of the construction company’s stock worth $2,915,000 after acquiring an additional 13,264 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Key Stories Impacting Lennar

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Lennar sold majority control of its struggling multifamily arm to private equity firm TPG — a transaction that should reduce ongoing losses from that division, free up capital and simplify Lennar’s business mix. Lennar sells majority control of multifamily division to TPG
• Positive Sentiment: Macro/sector backdrop: coverage noting homebuilder stocks have started the year well and demand fundamentals remain for new housing — a tailwind for Lennar if demand and pricing stay resilient. Home Builder Stocks Are Off to a Good Start
• Neutral Sentiment: Local planning headwinds: a proposed development near Helotes Creek drew community scrutiny — potential delays at specific projects could modestly affect local timing but are unlikely to change company-wide fundamentals. Proposal for additional development near Helotes Creek draws community scrutiny
• Negative Sentiment: Analyst pressure: Wells Fargo cut its price target on LEN to $105, signaling reduced near-term upside from current levels. Wells Fargo Lowers Lennar Price Target to $105
• Negative Sentiment: Additional downgrades: UBS and Citizens/JMP moved to lower/market?perform stances after an underwhelming Q4, adding selling pressure from institutions. UBS downgrades Lennar Lennar lowered to market perform at Citizens after underwhelming Q4
• Negative Sentiment: Earnings outlook trimmed: Zacks Research cut its FY2028 EPS estimate to $10.17 (vs. a consensus near $12.48) and assigned a Hold — a sign analysts expect weaker medium?term earnings versus prior consensus. Zacks Research FY2028 estimate for Lennar
• Negative Sentiment: Recent Q4 results: Lennar’s most recent quarter missed EPS expectations and showed year-over-year revenue decline, which triggered some of the analyst downward revisions and remains a near-term headwind for sentiment. Lennar Q4 results and analyst reactions

About Lennar

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.