Lennar Corporation (NYSE:LEN) Receives $92.13 Average Price Target from Brokerages

Shares of Lennar Corporation (NYSE:LEN) have earned a consensus recommendation of “Reduce” from the eighteen research firms that are covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $92.1333.

LEN has been the topic of a number of research analyst reports. Citigroup lowered their price target on Lennar from $104.00 to $88.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 15th. Evercore raised their price objective on Lennar from $82.00 to $87.00 and gave the company an “underperform” rating in a report on Monday, June 15th. UBS Group lowered their target price on shares of Lennar from $107.00 to $94.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 16th. Truist Financial reduced their target price on shares of Lennar from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Thursday, August 6th. Finally, Argus set a $108.00 price target on shares of Lennar in a research note on Thursday, July 9th.

Lennar Stock Down 2.8%

LEN stock opened at $85.09 on Monday. The stock has a market capitalization of $20.50 billion, a P/E ratio of 13.32, a P/E/G ratio of 2.91 and a beta of 1.39. Lennar has a 52 week low of $79.82 and a 52 week high of $144.24. The firm has a 50-day simple moving average of $87.27 and a 200-day simple moving average of $94.28. The company has a quick ratio of 0.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.19.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.07. Lennar had a return on equity of 7.08% and a net margin of 4.93%.The company had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. During the same period in the previous year, the firm posted $1.81 EPS. Lennar’s revenue was down 5.2% compared to the same quarter last year. Equities analysts forecast that Lennar will post 5.52 earnings per share for the current fiscal year.

Lennar Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 10th were given a $0.50 dividend. The ex-dividend date was Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. Lennar’s dividend payout ratio is 31.30%.

Hedge Funds Weigh In On Lennar

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Butensky & Cohen Financial Security Inc. increased its stake in shares of Lennar by 12.1% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 43,977 shares of the construction company’s stock worth $3,979,000 after acquiring an additional 4,750 shares during the last quarter. Hudson Value Partners LLC acquired a new stake in Lennar during the second quarter worth about $249,000. Tema ETFs LLC raised its stake in Lennar by 9.4% during the second quarter. Tema ETFs LLC now owns 10,096 shares of the construction company’s stock worth $914,000 after purchasing an additional 870 shares during the period. Everpar Advisors LLC boosted its holdings in Lennar by 16.5% in the 2nd quarter. Everpar Advisors LLC now owns 2,917 shares of the construction company’s stock valued at $264,000 after purchasing an additional 413 shares during the last quarter. Finally, Chemistry Wealth Management LLC increased its holdings in shares of Lennar by 23.3% during the 2nd quarter. Chemistry Wealth Management LLC now owns 7,128 shares of the construction company’s stock worth $645,000 after buying an additional 1,345 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.