Lennar Corporation (NYSE:LEN) Receives $92.80 Consensus Target Price from Brokerages

Lennar Corporation (NYSE:LEN) has earned a consensus rating of “Reduce” from the eighteen research firms that are covering the firm, Marketbeat.com reports. Ten investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $92.80.

Several research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Lennar from $90.00 to $85.00 and set an “equal weight” rating for the company in a research report on Monday, June 15th. Seaport Research Partners reaffirmed a “sell” rating and set a $74.00 price target (down from $140.00) on shares of Lennar in a report on Tuesday, April 7th. Barclays reduced their price objective on Lennar from $80.00 to $79.00 and set an “underweight” rating for the company in a research report on Monday, June 15th. JPMorgan Chase & Co. lowered their target price on Lennar from $80.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 16th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lennar in a research note on Thursday, June 11th.

Hedge Funds Weigh In On Lennar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Butensky & Cohen Financial Security Inc. grew its position in Lennar by 12.1% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 43,977 shares of the construction company’s stock valued at $3,979,000 after buying an additional 4,750 shares in the last quarter. Hudson Value Partners LLC bought a new stake in shares of Lennar during the 2nd quarter worth about $249,000. Tema ETFs LLC lifted its stake in shares of Lennar by 9.4% in the 2nd quarter. Tema ETFs LLC now owns 10,096 shares of the construction company’s stock worth $914,000 after acquiring an additional 870 shares during the period. Everpar Advisors LLC boosted its holdings in shares of Lennar by 16.5% in the second quarter. Everpar Advisors LLC now owns 2,917 shares of the construction company’s stock valued at $264,000 after acquiring an additional 413 shares in the last quarter. Finally, Chemistry Wealth Management LLC increased its stake in shares of Lennar by 23.3% during the second quarter. Chemistry Wealth Management LLC now owns 7,128 shares of the construction company’s stock valued at $645,000 after acquiring an additional 1,345 shares during the period. Institutional investors own 81.10% of the company’s stock.

Lennar Stock Performance

LEN stock opened at $83.83 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.91 and a current ratio of 4.91. The stock has a market capitalization of $20.20 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 2.79 and a beta of 1.38. Lennar has a 1 year low of $81.18 and a 1 year high of $144.24. The stock’s fifty day moving average is $88.24 and its two-hundred day moving average is $97.86.

Lennar (NYSE:LEN) last released its quarterly earnings results on Thursday, June 11th. The construction company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.24 by $0.07. The business had revenue of $7.94 billion during the quarter, compared to analyst estimates of $8.08 billion. Lennar had a net margin of 4.93% and a return on equity of 7.08%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.81 earnings per share. On average, research analysts predict that Lennar will post 5.52 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, July 10th. Lennar’s dividend payout ratio (DPR) is 31.30%.

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.