Lennar Corporation (NYSE:LEN)‘s stock had its “buy” rating restated by stock analysts at Argus in a research report issued on Tuesday, July 25th. They presently have a $60.00 target price on the construction company’s stock, up from their previous target price of $57.00. Argus’ price target would indicate a potential upside of 12.68% from the stock’s previous close.
Several other equities research analysts have also weighed in on the company. Royal Bank Of Canada boosted their target price on Lennar Corporation from $61.00 to $64.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. Zacks Investment Research upgraded Lennar Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Wednesday, July 12th. Mizuho restated a “buy” rating on shares of Lennar Corporation in a report on Tuesday, July 11th. Barclays PLC downgraded Lennar Corporation from an “overweight” rating to an “equal weight” rating and set a $56.00 price target on the stock. in a research report on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Lennar Corporation in a research report on Tuesday, July 4th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $56.53.
Shares of Lennar Corporation (NYSE LEN) traded up 0.17% on Tuesday, hitting $53.25. 700,977 shares of the company were exchanged. The company has a 50-day moving average price of $53.25 and a 200 day moving average price of $51.02. Lennar Corporation has a 52-week low of $39.68 and a 52-week high of $55.75. The firm has a market cap of $12.49 billion, a P/E ratio of 15.57 and a beta of 1.26.
Lennar Corporation (NYSE:LEN) last posted its earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the company earned $0.95 EPS. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. Analysts predict that Lennar Corporation will post $3.82 EPS for the current fiscal year.
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In related news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $53.17, for a total value of $1,063,400.00. Following the completion of the sale, the chief operating officer now owns 139,433 shares in the company, valued at $7,413,652.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.18% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Brookfield Asset Management Inc. bought a new stake in Lennar Corporation during the fourth quarter worth approximately $3,044,000. RMB Capital Management LLC bought a new stake in Lennar Corporation during the fourth quarter worth approximately $347,000. Kentucky Retirement Systems bought a new stake in Lennar Corporation during the fourth quarter worth approximately $612,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Lennar Corporation during the fourth quarter worth approximately $273,000. Finally, Highbridge Capital Management LLC increased its stake in Lennar Corporation by 279.7% in the fourth quarter. Highbridge Capital Management LLC now owns 64,959 shares of the construction company’s stock worth $2,788,000 after buying an additional 47,851 shares in the last quarter. Institutional investors and hedge funds own 82.08% of the company’s stock.
Lennar Corporation Company Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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