Lennar (NYSE:LEN) Price Target Lowered to $98.00 at Royal Bank Of Canada

Lennar (NYSE:LEN) had its price objective reduced by Royal Bank Of Canada from $122.00 to $98.00 in a report released on Wednesday,Benzinga reports. They currently have a sector perform rating on the construction company’s stock.

A number of other research analysts have also recently issued reports on LEN. Keefe, Bruyette & Woods decreased their target price on Lennar from $141.00 to $128.00 and set a “market perform” rating for the company in a research note on Tuesday, March 25th. UBS Group decreased their target price on Lennar from $164.00 to $146.00 and set a “buy” rating for the company in a research note on Wednesday. Zelman & Associates reissued a “neutral” rating on shares of Lennar in a research note on Wednesday. Wedbush reissued a “neutral” rating and issued a $158.00 target price on shares of Lennar in a research note on Monday, March 17th. Finally, Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Sixteen equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lennar presently has a consensus rating of “Hold” and a consensus target price of $141.60.

Lennar Stock Down 1.2%

Shares of Lennar stock opened at $103.37 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 3.65 and a debt-to-equity ratio of 0.12. Lennar has a 12 month low of $98.42 and a 12 month high of $187.61. The business has a fifty day simple moving average of $107.79 and a 200 day simple moving average of $122.57. The stock has a market cap of $27.27 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 2.85 and a beta of 1.33.

Lennar (NYSE:LEN) last posted its earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.04). Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business had revenue of $8.38 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same period in the previous year, the firm posted $3.45 earnings per share. The firm’s revenue was down 4.4% on a year-over-year basis. Research analysts predict that Lennar will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $2.00 annualized dividend and a yield of 1.93%. Lennar’s payout ratio is presently 16.54%.

Institutional Trading of Lennar

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Inspire Investing LLC raised its holdings in Lennar by 44.6% during the first quarter. Inspire Investing LLC now owns 2,732 shares of the construction company’s stock worth $314,000 after acquiring an additional 843 shares in the last quarter. Ellsworth Advisors LLC raised its holdings in Lennar by 1.1% during the first quarter. Ellsworth Advisors LLC now owns 16,638 shares of the construction company’s stock worth $1,910,000 after acquiring an additional 179 shares in the last quarter. Advisors Capital Management LLC raised its holdings in Lennar by 1.2% during the first quarter. Advisors Capital Management LLC now owns 47,783 shares of the construction company’s stock worth $5,485,000 after acquiring an additional 555 shares in the last quarter. Intech Investment Management LLC raised its stake in Lennar by 29.8% in the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company’s stock valued at $1,589,000 after buying an additional 3,177 shares during the period. Finally, Glenview Trust co raised its stake in Lennar by 12.3% in the first quarter. Glenview Trust co now owns 15,742 shares of the construction company’s stock valued at $1,807,000 after buying an additional 1,726 shares during the period. Institutional investors own 81.10% of the company’s stock.

About Lennar

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company’s 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; and development, construction, and management of multifamily rental properties.