Lennar (NYSE:LEN) Given New $104.00 Price Target at Citigroup

Lennar (NYSE:LEN) had its price objective lowered by Citigroup from $113.00 to $104.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Lennar from $115.00 to $80.00 and set an “underweight” rating on the stock in a research note on Thursday, December 18th. Truist Financial dropped their price target on Lennar from $110.00 to $95.00 and set a “hold” rating for the company in a research note on Monday. Evercore downgraded shares of Lennar from an “in-line” rating to an “underperform” rating and cut their target price for the company from $114.00 to $92.00 in a research note on Thursday, December 18th. Wells Fargo & Company reduced their price target on Lennar from $105.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, BTIG Research set a $90.00 price objective on shares of Lennar in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $102.79.

Lennar Stock Performance

NYSE:LEN opened at $97.03 on Tuesday. Lennar has a 1-year low of $92.17 and a 1-year high of $144.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.77 and a quick ratio of 0.97. The firm’s fifty day moving average price is $112.14 and its 200 day moving average price is $119.01. The firm has a market cap of $23.96 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43.

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 for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the company earned $2.14 EPS. The company’s revenue was down 13.3% on a year-over-year basis. On average, sell-side analysts expect that Lennar will post 12.48 EPS for the current year.

Lennar Dividend Announcement

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

Institutional Investors Weigh In On Lennar

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

Lennar News Roundup

Here are the key news stories impacting Lennar this week:

• Positive Sentiment: Several major brokers still show modest upside in their revised targets — UBS lowered its target to $107 (about a 10% upside to the current price), Citigroup lowered to $104 (~7% upside) and Wells Fargo to $100 (~3% upside). Those remaining above the market may be supporting buying interest. Read More.
• Neutral Sentiment: HousingWire ran an analysis of Lennar’s margin strategy — a deeper read on management’s approach to margins and pricing that could influence medium-term profitability but is ambiguous near-term for the stock. Read More.
• Negative Sentiment: Quarterly results disappointed: LEN reported $0.88 EPS vs. consensus ~ $0.96 and revenue of $6.62B vs. ~$6.88B — misses that typically pressure residential builders due to sensitivity to volumes and pricing. Read More.
• Negative Sentiment: Multiple broker notes cut price targets and/or ratings — Barclays cut to $85 and set an underweight, Truist cut to $95 (hold), and other firms trimmed targets — signaling reduced near-term conviction from some sell-side analysts. Those downgrades increase downside risk for investors. Read More.
• Negative Sentiment: Local opposition to Lennar’s Hill Country developments is getting press attention; heightened community resistance and permitting/legal risks can slow or add cost to projects in key markets. Read More.

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.