Lennar (NYSE:LEN) Given New $97.00 Price Target at Keefe, Bruyette & Woods

Lennar (NYSE:LEN) had its price target reduced by Keefe, Bruyette & Woods from $105.00 to $97.00 in a report published on Wednesday,Benzinga reports. They currently have a market perform rating on the construction company’s stock.

A number of other brokerages have also recently weighed in on LEN. Wall Street Zen cut shares of Lennar from a “hold” rating to a “sell” rating in a report on Monday, December 8th. Weiss Ratings cut Lennar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 16th. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 19th. Royal Bank Of Canada set a $88.00 target price on Lennar in a report on Friday, January 9th. Finally, Evercore cut Lennar from an “in-line” rating to an “underperform” rating and cut their target price for the stock from $114.00 to $92.00 in a research note on Thursday, December 18th. One equities 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, Lennar presently has an average rating of “Reduce” and a consensus price target of $101.14.

Lennar Price Performance

LEN opened at $85.45 on Wednesday. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. The company has a market cap of $21.10 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 1.84 and a beta of 1.43. The stock has a fifty day simple moving average of $106.22 and a two-hundred day simple moving average of $115.53. Lennar has a 12-month low of $84.38 and a 12-month high of $144.24.

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

Lennar Dividend Announcement

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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, February 4th. Lennar’s payout ratio is 28.74%.

Hedge Funds Weigh In On Lennar

Several institutional investors have recently made changes to their positions in LEN. Guerra Advisors Inc bought a new stake in Lennar during the third quarter valued at approximately $25,000. KERR FINANCIAL PLANNING Corp bought a new position in Lennar in the third quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of Lennar during the 3rd quarter worth $26,000. High Point Wealth Management LLC bought a new stake in shares of Lennar during the 4th quarter valued at $31,000. Finally, DV Equities LLC purchased a new stake in shares of Lennar in the 4th quarter worth $31,000. 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.