Lennar (NYSE:LEN) was upgraded by stock analysts at Wedbush from a “neutral” rating to an “outperform” rating in a report issued on Monday, October 29th, Marketbeat.com reports. The brokerage presently has a $50.00 price target on the construction company’s stock, down from their previous price target of $56.00. Wedbush’s price objective suggests a potential upside of 16.88% from the stock’s previous close. Wedbush also issued estimates for Lennar’s Q1 2020 earnings at $1.05 EPS, Q2 2020 earnings at $1.59 EPS, Q3 2020 earnings at $1.98 EPS and FY2020 earnings at $7.12 EPS.
Several other research analysts have also issued reports on LEN. MKM Partners set a $61.00 price target on shares of Lennar and gave the stock a “buy” rating in a research report on Thursday, October 4th. Credit Suisse Group set a $55.00 price target on shares of Lennar and gave the stock a “buy” rating in a research report on Thursday, October 4th. JMP Securities reiterated an “outperform” rating on shares of Lennar in a research report on Monday, October 8th. Barclays set a $63.00 price objective on shares of Lennar and gave the stock a “buy” rating in a research report on Friday, September 14th. Finally, Zacks Investment Research cut shares of Lennar from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Lennar presently has an average rating of “Buy” and an average price target of $62.63.
NYSE:LEN traded up $0.64 during midday trading on Monday, hitting $42.78. 3,967,776 shares of the stock were exchanged, compared to its average volume of 6,071,369. Lennar has a one year low of $38.22 and a one year high of $72.17. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 0.50 and a beta of 1.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 12.62 and a quick ratio of 0.72.
Lennar (NYSE:LEN) last posted its quarterly earnings results on Wednesday, October 3rd. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.11. The firm had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.62 billion. Lennar had a net margin of 6.76% and a return on equity of 12.87%. The firm’s quarterly revenue was up 73.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.06 earnings per share. On average, sell-side analysts expect that Lennar will post 4.92 EPS for the current year.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $46.98, for a total transaction of $939,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.50% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Kentucky Retirement Systems purchased a new position in shares of Lennar during the 3rd quarter valued at $546,000. Banco de Sabadell S.A grew its holdings in shares of Lennar by 119.0% during the 3rd quarter. Banco de Sabadell S.A now owns 46,082 shares of the construction company’s stock valued at $2,161,000 after acquiring an additional 25,037 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in shares of Lennar by 38.2% in the 3rd quarter. Koshinski Asset Management Inc. now owns 5,862 shares of the construction company’s stock valued at $274,000 after purchasing an additional 1,620 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Lennar in the 3rd quarter valued at $823,000. Finally, Worth Venture Partners LLC acquired a new stake in shares of Lennar in the 3rd quarter valued at $106,000. Institutional investors and hedge funds own 87.14% of the company’s stock.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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.
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