Evercore Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price objective cut by Evercore from $89.00 to $82.00 in a note issued to investors on Monday,MarketScreener reports. The firm currently has an “underperform” rating on the construction company’s stock. Evercore’s price target suggests a potential downside of 7.70% from the company’s current price.

A number of other analysts have also weighed in on the company. Zacks Research raised Lennar from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Truist Financial lowered their price target on shares of Lennar from $95.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, March 31st. Barclays cut their price target on shares of Lennar from $85.00 to $80.00 and set an “underweight” rating on the stock in a report on Wednesday, April 8th. The Goldman Sachs Group decreased their price objective on shares of Lennar from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 10th. Finally, Argus upgraded shares of Lennar to a “strong-buy” rating in a report on Friday, January 16th. One 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. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $98.07.

Lennar Trading Down 1.1%

Shares of LEN stock opened at $88.84 on Monday. The business has a 50-day moving average price of $102.06 and a two-hundred day moving average price of $112.89. Lennar has a 12-month low of $83.03 and a 12-month 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. The firm has a market cap of $21.94 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.93 and a beta of 1.47.

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

Hedge Funds Weigh In On Lennar

A number of institutional investors have recently bought and sold shares of LEN. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Lennar by 14.6% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,732,654 shares of the construction company’s stock worth $596,504,000 after acquiring an additional 603,004 shares in the last quarter. Viking Global Investors LP boosted its position in shares of Lennar by 86.7% during the second quarter. Viking Global Investors LP now owns 2,523,594 shares of the construction company’s stock valued at $279,135,000 after purchasing an additional 1,172,068 shares in the last quarter. Janus Henderson Group PLC grew its stake in Lennar by 12.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,127,225 shares of the construction company’s stock worth $218,681,000 after purchasing an additional 228,247 shares during the period. Van Lanschot Kempen Investment Management N.V. raised its holdings in Lennar by 90.9% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 1,963,373 shares of the construction company’s stock worth $201,835,000 after purchasing an additional 934,856 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Lennar by 7.0% during the third quarter. Envestnet Asset Management Inc. now owns 1,154,892 shares of the construction company’s stock valued at $145,563,000 after buying an additional 75,574 shares during the period. 81.10% of the stock is owned by institutional investors.

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.