Lennar (NYSE:LEN) Price Target Cut to $85.00 by Analysts at Barclays

Lennar (NYSE:LEN) had its price target cut by Barclays from $88.00 to $85.00 in a research note released on Monday morning,Benzinga reports. They currently have an underweight rating on the construction company’s stock.

LEN has been the topic of a number of other research reports. BTIG Research set a $90.00 price target on Lennar in a report on Thursday, December 18th. Bank of America restated an “underperform” rating and issued a $95.00 target price (down from $125.00) on shares of Lennar in a research report on Thursday, December 18th. Keefe, Bruyette & Woods cut their target price on Lennar from $125.00 to $115.00 and set a “market perform” rating on the stock in a research note on Thursday, December 18th. The Goldman Sachs Group reduced their price target on Lennar from $125.00 to $118.00 and set a “neutral” rating for the company in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada set a $88.00 price target on Lennar in a report on Friday, January 9th. 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 stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $103.43.

Lennar Stock Up 1.1%

LEN stock opened at $96.01 on Monday. The stock has a market cap of $23.71 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.37 and a beta of 1.43. The firm’s 50-day simple moving average is $112.33 and its 200 day simple moving average is $119.27. Lennar has a fifty-two week low of $92.17 and a fifty-two week high of $144.24. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last posted its earnings results on Thursday, March 12th. The construction company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.07). Lennar had a net margin of 5.39% and a return on equity of 7.80%. The firm had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the firm earned $2.14 earnings per share. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. As a group, sell-side analysts predict that Lennar will post 12.48 EPS for the current year.

Lennar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Wednesday, February 4th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.1%. Lennar’s payout ratio is currently 28.74%.

Institutional Trading of Lennar

Several institutional investors and hedge funds have recently added to or reduced their stakes in LEN. Guerra Advisors Inc bought a new stake in Lennar during the third quarter worth approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Lennar in the third quarter valued at $25,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Lennar during the 3rd quarter valued at $26,000. High Point Wealth Management LLC bought a new stake in shares of Lennar during the 4th quarter worth $31,000. Finally, DV Equities LLC acquired a new position in shares of Lennar in the 4th quarter worth $31,000. 81.10% of the stock is owned by institutional investors and hedge funds.

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.