Evercore Cuts Lennar (NYSE:LEN) Price Target to $82.00

Key Points

• Evercore cut Lennar's price target to $82 (from $89) and kept an "underperform" rating, implying about a 9% downside from the previous close.
• Broad analyst sentiment is negative: the stock's consensus rating is "Reduce" with a consensus price target of $98.07 after multiple firms trimmed targets and ratings.
• Lennar recently missed quarterly estimates (EPS $0.88 vs. $0.95; revenue $6.62B vs. $6.90B), saw revenue decline 13.3% year-over-year, and trades around $90 with a 52‑week low of $83.03.

Lennar (NYSE:LEN - Get Free Report) had its target price cut by analysts at Evercore from $89.00 to $82.00 in a research note issued on Monday,MarketScreener reports. The brokerage currently has an "underperform" rating on the construction company's stock. Evercore's target price points to a potential downside of 9.03% from the company's previous close.

Several other brokerages have also weighed in on LEN. Royal Bank Of Canada set a $88.00 price objective on shares of Lennar in a report on Friday, January 9th. Wells Fargo & Company decreased their price target on Lennar from $100.00 to $90.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 8th. Citigroup lowered their price objective on Lennar from $113.00 to $104.00 and set a "neutral" rating for the company in a report on Tuesday, March 17th. Weiss Ratings downgraded Lennar from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, March 16th. Finally, Keefe, Bruyette & Woods decreased their target price on Lennar from $105.00 to $97.00 and set a "market perform" rating for the company in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $98.07.

Lennar Price Performance

LEN stock opened at $90.14 on Monday. The company has a market capitalization of $22.26 billion, a PE ratio of 13.00, a P/E/G ratio of 1.91 and a beta of 1.47. The company has a quick ratio of 0.97, a current ratio of 4.77 and a debt-to-equity ratio of 0.18. The stock's 50 day moving average is $102.53 and its two-hundred day moving average is $113.16. Lennar has a 52-week low of $83.03 and a 52-week high of $144.24.

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 company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.90 billion. Lennar had a return on equity of 7.80% and a net margin of 5.39%.The firm's quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.14 EPS. Analysts predict that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Guerra Advisors Inc acquired a new position in shares of Lennar during the third quarter valued at $25,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Lennar in the third quarter worth about $25,000. Redmont Wealth Advisors LLC bought a new position in Lennar in the 3rd quarter valued at about $26,000. High Point Wealth Management LLC acquired a new position in Lennar during the 4th quarter valued at about $31,000. Finally, DV Equities LLC acquired a new stake in shares of Lennar in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 81.10% of the company's stock.

About Lennar

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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