Truist Financial Cuts Lennar (NYSE:LEN) Price Target to $90.00
by Mitch Edgeman · The Markets DailyLennar (NYSE:LEN – Free Report) had its price objective lowered by Truist Financial from $95.00 to $90.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a hold rating on the construction company’s stock.
Several other research analysts have also recently commented on LEN. The Goldman Sachs Group decreased their price target on Lennar from $125.00 to $118.00 and set a “neutral” rating for the company in a report on Thursday, March 5th. UBS Group cut their target price on Lennar from $122.00 to $107.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Wells Fargo & Company decreased their target price on Lennar from $105.00 to $100.00 and set an “equal weight” rating for the company in a research note on Monday, March 16th. Wall Street Zen lowered shares of Lennar from a “hold” rating to a “sell” rating in a research note on Monday, December 8th. Finally, Royal Bank Of Canada set a $88.00 price objective on shares of Lennar in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $101.14.
Get Our Latest Analysis on Lennar
Lennar Stock Performance
Shares of Lennar stock opened at $86.53 on Tuesday. Lennar has a one year low of $83.03 and a one year high of $144.24. The company has a market cap of $21.37 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.82 and a beta of 1.47. The business’s 50 day moving average price is $105.66 and its 200 day moving average price is $115.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.97 and a current ratio of 4.77.
Lennar (NYSE:LEN – Get Free Report) last released its quarterly earnings results 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). The business had revenue of $6.62 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The business’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.14 earnings per share. On average, research analysts predict that Lennar will post 12.48 EPS for the current year.
Lennar Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Wednesday, February 4th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Lennar’s payout ratio is currently 28.74%.
Hedge Funds Weigh In On Lennar
Several hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its position in shares of Lennar by 7.1% in the second quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company’s stock worth $141,000 after acquiring an additional 85 shares during the last quarter. Zions Bancorporation National Association UT increased its position in Lennar by 8.3% during the third quarter. Zions Bancorporation National Association UT now owns 1,127 shares of the construction company’s stock worth $142,000 after purchasing an additional 86 shares during the last quarter. RFG Advisory LLC raised its stake in Lennar by 2.1% during the third quarter. RFG Advisory LLC now owns 4,255 shares of the construction company’s stock worth $536,000 after purchasing an additional 87 shares during the period. Rossby Financial LCC boosted its holdings in shares of Lennar by 9.1% in the 4th quarter. Rossby Financial LCC now owns 1,059 shares of the construction company’s stock valued at $109,000 after purchasing an additional 88 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of Lennar by 6.2% during the 3rd quarter. UMB Bank n.a. now owns 1,595 shares of the construction company’s stock valued at $201,000 after buying an additional 93 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.
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.