Lennar (NYSE:LEN) Price Target Cut to $236.00 by Analysts at Evercore ISI

Lennar (NYSE:LEN) had its price objective cut by Evercore ISI from $240.00 to $236.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Several other research analysts have also issued reports on the stock. The Goldman Sachs Group lowered shares of Lennar from a buy rating to a neutral rating and dropped their price target for the stock from $180.00 to $174.00 in a research report on Monday, July 22nd. Royal Bank of Canada raised their target price on Lennar from $145.00 to $160.00 and gave the stock an underperform rating in a research report on Monday. Keefe, Bruyette & Woods upped their price target on Lennar from $183.00 to $230.00 and gave the company an outperform rating in a research report on Wednesday, September 4th. Citigroup lifted their price objective on Lennar from $164.00 to $196.00 and gave the company a neutral rating in a report on Monday. Finally, StockNews.com raised shares of Lennar from a hold rating to a buy rating in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $181.94.

Lennar Stock Performance

NYSE LEN opened at $183.13 on Monday. The company’s fifty day moving average is $177.67 and its two-hundred day moving average is $164.42. The firm has a market capitalization of $50.29 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 1.71 and a beta of 1.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar has a 52-week low of $102.90 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last issued its quarterly earnings results on Thursday, September 19th. The construction company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $0.28. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The firm had revenue of $9.42 billion for the quarter, compared to analyst estimates of $9.14 billion. During the same period in the previous year, the company posted $3.91 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts forecast that Lennar will post 14.13 EPS for the current year.

Lennar Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Wednesday, October 9th. Lennar’s dividend payout ratio is 13.60%.

Hedge Funds Weigh In On Lennar

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rise Advisors LLC lifted its stake in shares of Lennar by 484.0% in the 1st quarter. Rise Advisors LLC now owns 146 shares of the construction company’s stock valued at $25,000 after purchasing an additional 121 shares during the period. J.Safra Asset Management Corp bought a new stake in Lennar in the first quarter valued at about $30,000. New Covenant Trust Company N.A. acquired a new position in Lennar in the first quarter valued at about $32,000. Redmont Wealth Advisors LLC bought a new position in Lennar during the first quarter worth about $35,000. Finally, Fortitude Family Office LLC grew its position in shares of Lennar by 223.6% during the 2nd quarter. Fortitude Family Office LLC now owns 233 shares of the construction company’s stock worth $35,000 after buying an additional 161 shares during the period. 81.10% of the stock is owned by institutional investors.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties.