Lennar Corporation (NYSE:LEN) Receives $95.00 Average PT from Brokerages

Lennar Corporation (NYSE:LEN) has been assigned a consensus recommendation of “Reduce” from the eighteen analysts that are currently covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $95.00.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 16th. Wells Fargo & Company reduced their price target on Lennar from $90.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, June 15th. Truist Financial reduced their price target on Lennar from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lennar in a report on Thursday, June 11th. Finally, Barclays reduced their price target on Lennar from $80.00 to $79.00 and set an “underweight” rating on the stock in a report on Monday, June 15th.

Institutional Investors Weigh In On Lennar

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Redwood Investment Management LLC purchased a new stake in shares of Lennar in the 1st quarter worth $1,028,000. Caerus Investment Advisors LLC purchased a new stake in shares of Lennar in the 1st quarter worth $298,000. Western Wealth Management LLC purchased a new stake in shares of Lennar in the 1st quarter worth $83,000. Janus Henderson Group PLC lifted its holdings in shares of Lennar by 19.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,546,970 shares of the construction company’s stock worth $221,176,000 after buying an additional 419,745 shares during the period. Finally, Bull Harbor Capital LLC purchased a new stake in shares of Lennar in the 1st quarter worth $392,000. Institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 0.3%

LEN opened at $93.54 on Friday. The firm has a market cap of $23.10 billion, a P/E ratio of 14.64, a P/E/G ratio of 3.07 and a beta of 1.39. Lennar has a 12 month low of $81.18 and a 12 month high of $144.24. The company has a current ratio of 4.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $89.78 and a 200 day moving average of $100.62.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.07. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The business had revenue of $7.94 billion for the quarter, compared to analysts’ expectations of $8.08 billion. During the same quarter in the previous year, the business posted $1.81 earnings per share. The business’s revenue was down 5.2% compared to the same quarter last year. As a group, research analysts forecast that Lennar will post 5.58 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Friday, July 10th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, July 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.1%. Lennar’s dividend payout ratio (DPR) is presently 31.30%.

Lennar Company Profile

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.