The Goldman Sachs Group Cuts Lennar (NYSE:LEN) Price Target to $118.00

Lennar (NYSE:LEN) had its price objective decreased by The Goldman Sachs Group from $125.00 to $118.00 in a research report report published on Thursday morning,MarketScreener reports. The Goldman Sachs Group currently has a neutral rating on the construction company’s stock.

Several other equities analysts have also recently issued reports on the company. Bank of America restated an “underperform” rating and issued a $95.00 price target (down from $125.00) on shares of Lennar in a research report on Thursday, December 18th. Zacks Research cut Lennar from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Citigroup lowered their target price on Lennar from $133.00 to $113.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Wells Fargo & Company cut their price target on Lennar from $110.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 6th. Finally, Argus raised Lennar to a “strong-buy” rating in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $106.14.

Lennar Stock Down 2.8%

LEN stock opened at $101.43 on Thursday. The company has a market cap of $25.05 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.47 and a beta of 1.43. The company has a fifty day moving average price of $113.21 and a 200 day moving average price of $120.89. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.89 and a quick ratio of 1.36. Lennar has a 12 month low of $98.42 and a 12 month high of $144.24.

Lennar (NYSE:LEN) last issued its quarterly earnings data 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 return on equity of 9.27% and a net margin of 6.08%.The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.17 billion. During the same period in the previous year, the business posted $4.03 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Sell-side analysts expect that Lennar will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Wednesday, February 4th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Wednesday, February 4th. Lennar’s payout ratio is presently 25.03%.

Hedge Funds Weigh In On Lennar

Large investors have recently made changes to their positions in the stock. Guerra Advisors Inc acquired a new position in Lennar during the third quarter worth about $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar during the 3rd quarter valued at approximately $26,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Lennar during the 3rd quarter worth approximately $25,000. DV Equities LLC acquired a new stake in shares of Lennar in the 4th quarter worth approximately $31,000. Finally, High Point Wealth Management LLC acquired a new stake in shares of Lennar in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

About Lennar

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.