Lennar Corporation (LEN) Receives Average Recommendation of “Buy” from Brokerages

Shares of Lennar Corporation (NYSE:LEN) have been assigned a consensus rating of “Buy” from the twenty ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $57.67.

A number of analysts recently commented on LEN shares. BTIG Research lifted their price target on Lennar Corporation from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Wedbush reiterated a “neutral” rating and set a $46.00 price target on shares of Lennar Corporation in a report on Thursday, June 15th. Argus reiterated a “buy” rating and set a $60.00 price target (up from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Zacks Investment Research upgraded Lennar Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Wednesday, July 12th. Finally, BidaskClub lowered Lennar Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 26th.

ILLEGAL ACTIVITY NOTICE: This story was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another website, it was copied illegally and reposted in violation of United States & international trademark and copyright legislation. The original version of this story can be accessed at https://ledgergazette.com/2017/10/09/lennar-corporation-len-receives-average-recommendation-of-buy-from-brokerages.html.

Lennar Corporation (NYSE:LEN) traded up 0.55% during midday trading on Wednesday, reaching $56.20. The company’s stock had a trading volume of 1,638,399 shares. The firm has a market cap of $13.18 billion, a P/E ratio of 16.43 and a beta of 1.22. Lennar Corporation has a 52-week low of $39.68 and a 52-week high of $56.78. The firm has a 50 day moving average of $51.83 and a 200 day moving average of $52.10.

Lennar Corporation (NYSE:LEN) last issued its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. Lennar Corporation had a return on equity of 12.52% and a net margin of 6.65%. Lennar Corporation’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. Analysts anticipate that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 2nd. Stockholders of record on Thursday, October 19th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Wednesday, October 18th. Lennar Corporation’s dividend payout ratio (DPR) is presently 4.61%.

In other news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $56.48, for a total value of $282,400.00. Following the completion of the transaction, the chief financial officer now directly owns 376,043 shares in the company, valued at $21,238,908.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.18% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sanders Capital LLC grew its position in shares of Lennar Corporation by 1.3% in the first quarter. Sanders Capital LLC now owns 8,724,399 shares of the construction company’s stock valued at $456,887,000 after purchasing an additional 110,379 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Lennar Corporation by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,516,323 shares of the construction company’s stock valued at $400,771,000 after purchasing an additional 386,110 shares in the last quarter. Aristotle Capital Management LLC grew its position in shares of Lennar Corporation by 1.3% in the first quarter. Aristotle Capital Management LLC now owns 5,767,575 shares of the construction company’s stock valued at $295,242,000 after purchasing an additional 73,814 shares in the last quarter. Greenhaven Associates Inc. grew its position in shares of Lennar Corporation by 0.9% in the second quarter. Greenhaven Associates Inc. now owns 5,420,516 shares of the construction company’s stock valued at $289,022,000 after purchasing an additional 46,200 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Lennar Corporation by 25.0% in the second quarter. Principal Financial Group Inc. now owns 3,129,708 shares of the construction company’s stock valued at $166,876,000 after purchasi

A number of analysts recently commented on LEN shares. BTIG Research lifted their price target on Lennar Corporation from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Wedbush reiterated a “neutral” rating and set a $46.00 price target on shares of Lennar Corporation in a report on Thursday, June 15th. Argus reiterated a “buy” rating and set a $60.00 price target (up from $57.00) on shares of Lennar Corporation in a report on Tuesday, July 25th. Zacks Investment Research upgraded Lennar Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Wednesday, July 12th. Finally, BidaskClub lowered Lennar Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 26th.

ILLEGAL ACTIVITY NOTICE: This story was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another website, it was copied illegally and reposted in violation of United States & international trademark and copyright legislation. The original version of this story can be accessed at https://ledgergazette.com/2017/10/09/lennar-corporation-len-receives-average-recommendation-of-buy-from-brokerages.html.

Lennar Corporation (NYSE:LEN) traded up 0.55% during midday trading on Wednesday, reaching $56.20. The company’s stock had a trading volume of 1,638,399 shares. The firm has a market cap of $13.18 billion, a P/E ratio of 16.43 and a beta of 1.22. Lennar Corporation has a 52-week low of $39.68 and a 52-week high of $56.78. The firm has a 50 day moving average of $51.83 and a 200 day moving average of $52.10.

Lennar Corporation (NYSE:LEN) last issued its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 EPS for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.25 billion. Lennar Corporation had a return on equity of 12.52% and a net margin of 6.65%. Lennar Corporation’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company posted $1.01 earnings per share. Analysts anticipate that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 2nd. Stockholders of record on Thursday, October 19th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Wednesday, October 18th. Lennar Corporation’s dividend payout ratio (DPR) is presently 4.61%.

In other news, CFO Bruce E. Gross sold 5,000 shares of Lennar Corporation stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $56.48, for a total value of $282,400.00. Following the completion of the transaction, the chief financial officer now directly owns 376,043 shares in the company, valued at $21,238,908.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.18% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sanders Capital LLC grew its position in shares of Lennar Corporation by 1.3% in the first quarter. Sanders Capital LLC now owns 8,724,399 shares of the construction company’s stock valued at $456,887,000 after purchasing an additional 110,379 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Lennar Corporation by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 7,516,323 shares of the construction company’s stock valued at $400,771,000 after purchasing an additional 386,110 shares in the last quarter. Aristotle Capital Management LLC grew its position in shares of Lennar Corporation by 1.3% in the first quarter. Aristotle Capital Management LLC now owns 5,767,575 shares of the construction company’s stock valued at $295,242,000 after purchasing an additional 73,814 shares in the last quarter. Greenhaven Associates Inc. grew its position in shares of Lennar Corporation by 0.9% in the second quarter. Greenhaven Associates Inc. now owns 5,420,516 shares of the construction company’s stock valued at $289,022,000 after purchasing an additional 46,200 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Lennar Corporation by 25.0% in the second quarter. Principal Financial Group Inc. now owns 3,129,708 shares of the construction company’s stock valued at $166,876,000 after purchasing an additional 625,329 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

About Lennar Corporation

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

Analyst Recommendations for Lennar Corporation (NYSE:LEN)

Receive News & Ratings for Lennar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply