Lennar (NYSE:LEN) was upgraded by research analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday.
Several other equities research analysts have also recently commented on LEN. Royal Bank of Canada reaffirmed a “buy” rating and issued a $64.00 target price on shares of Lennar in a research report on Monday, September 25th. KeyCorp reiterated a “hold” rating on shares of Lennar in a research note on Tuesday, September 26th. MKM Partners upgraded shares of Lennar from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research note on Wednesday, October 4th. Citigroup reiterated a “neutral” rating and issued a $59.00 price target (up from $57.00) on shares of Lennar in a research note on Wednesday, October 4th. Finally, Bank of America increased their price target on shares of Lennar from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $63.93.
Shares of Lennar (NYSE LEN) opened at $71.82 on Monday. Lennar has a 12-month low of $43.46 and a 12-month high of $72.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59. The company has a market cap of $16,700.00, a PE ratio of 20.70, a PEG ratio of 1.04 and a beta of 1.35.
Lennar (NYSE:LEN) last posted its earnings results on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.21). Lennar had a return on equity of 12.22% and a net margin of 6.41%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the business posted $1.34 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. research analysts predict that Lennar will post 5.33 earnings per share for the current year.
In other Lennar news, General Counsel Mark Sustana sold 125,000 shares of the firm’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $69.55, for a total transaction of $8,693,750.00. Following the completion of the sale, the general counsel now directly owns 65,720 shares in the company, valued at approximately $4,570,826. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Diane J. Bessette sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $69.50, for a total transaction of $695,000.00. Following the sale, the vice president now owns 222,396 shares of the company’s stock, valued at $15,456,522. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,000 shares of company stock valued at $11,744,050. 12.18% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in LEN. D.A. Davidson & CO. increased its stake in Lennar by 8.9% during the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after purchasing an additional 155 shares in the last quarter. QS Investors LLC increased its stake in Lennar by 1.0% during the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after purchasing an additional 25 shares in the last quarter. Chartist Inc. CA bought a new stake in Lennar during the 2nd quarter valued at about $200,000. Valeo Financial Advisors LLC bought a new stake in Lennar during the 3rd quarter valued at about $245,000. Finally, Vident Investment Advisory LLC bought a new stake in Lennar during the 3rd quarter valued at about $250,000. Institutional investors and hedge funds own 80.85% of the company’s stock.
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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.
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