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

by · The Markets Daily

Lennar (NYSE:LEN – Get Free Report) had its price target increased by equities researchers at Evercore from $82.00 to $87.00 in a report issued on Monday,MarketScreener reports. The brokerage presently has an “underperform” rating on the construction company’s stock. Evercore’s target price would indicate a potential downside of 5.30% from the company’s previous close.

Several other research firms also recently issued reports on LEN. Bank of America lowered their price objective on Lennar from $88.00 to $84.00 in a research note on Thursday. The Goldman Sachs Group reiterated a “neutral” rating on shares of Lennar in a research note on Friday, June 5th. Barclays set a $79.00 target price on shares of Lennar and gave the stock an “underweight” rating in a report on Monday. Argus decreased their price target on Lennar from $140.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Finally, Citigroup reduced their target price on shares of Lennar from $113.00 to $104.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and ten have given a Sell rating to the stock. According to data from MarketBeat, Lennar currently has a consensus rating of “Reduce” and a consensus price target of $95.81.

Read Our Latest Research Report on LEN

Lennar Stock Up 1.7%

LEN traded up $1.57 during trading on Monday, reaching $91.87. The company had a trading volume of 314,457 shares, compared to its average volume of 2,949,407. The company has a market cap of $22.69 billion, a P/E ratio of 14.31, a PEG ratio of 2.83 and a beta of 1.39. Lennar has a 12 month low of $81.18 and a 12 month high of $144.24. The business’s fifty day moving average price is $89.38 and its 200 day moving average price is $103.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.91 and a quick ratio of 0.91.

Lennar (NYSE:LEN – Get Free Report) last issued its quarterly earnings data on Thursday, June 11th. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.07. The company had revenue of $7.94 billion for 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 revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.81 earnings per share. Equities analysts anticipate that Lennar will post 5.85 EPS for the current year.

Hedge Funds Weigh In On Lennar

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Redmont Wealth Advisors LLC bought a new position in Lennar in the 3rd quarter worth $26,000. KERR FINANCIAL PLANNING Corp bought a new stake in Lennar during the third quarter worth approximately $25,000. DV Equities LLC purchased a new position in Lennar during the fourth quarter worth $31,000. High Point Wealth Management LLC purchased a new stake in Lennar in the 4th quarter worth about $31,000. Finally, Phillip James Consulting Co. bought a new stake in shares of Lennar during the 1st quarter worth approximately $30,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Lennar Company Profile

(Get Free Report)

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.

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