Lennar Corporation (NYSE:LEN) Receives Average Rating of “Reduce” from Brokerages

Lennar Corporation (NYSE:LEN) has been given an average rating of “Reduce” by the nineteen ratings firms that are covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $106.3846.

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $125.00 price objective on shares of Lennar in a report on Tuesday, January 13th. UBS Group downgraded Lennar from a “buy” rating to a “neutral” rating and lowered their price target for the company from $137.00 to $122.00 in a research report on Tuesday, January 6th. BTIG Research set a $90.00 price objective on Lennar in a report on Thursday, December 18th. Citigroup decreased their price objective on Lennar from $133.00 to $113.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Finally, Wall Street Zen lowered Lennar from a “hold” rating to a “sell” rating in a research note on Monday, December 8th.

Lennar Stock Up 2.4%

Shares of NYSE LEN opened at $117.96 on Thursday. The company has a current ratio of 4.89, a quick ratio of 1.36 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average of $116.56 and a 200-day moving average of $121.77. The firm has a market capitalization of $30.08 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.49 and a beta of 1.42. Lennar has a 12 month low of $98.42 and a 12 month high of $144.24.

Lennar (NYSE:LEN) last announced its earnings results on Tuesday, December 16th. The construction company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.27). Lennar had a net margin of 6.08% and a return on equity of 9.27%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.17 billion. During the same quarter in the previous year, the firm earned $4.03 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. Sell-side analysts expect that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.7%. Lennar’s dividend payout ratio is 25.03%.

Institutional Trading of Lennar

Several hedge funds have recently added to or reduced their stakes in LEN. Guerra Advisors Inc bought a new position in shares of Lennar during the third quarter valued at about $25,000. Redmont Wealth Advisors LLC bought a new stake in shares of Lennar in the 3rd quarter valued at about $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Lennar during the 3rd quarter valued at about $25,000. FNY Investment Advisers LLC bought a new position in Lennar during the 2nd quarter worth approximately $33,000. Finally, Rexford Capital Inc. purchased a new position in Lennar in the 2nd quarter worth approximately $36,000. 81.10% of the stock is owned by institutional investors.

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.