JMP Securities Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN - Get Free Report) had its price target cut by equities research analysts at JMP Securities from $150.00 to $130.00 in a report released on Friday,Benzinga reports. The firm currently has a "market outperform" rating on the construction company's stock. JMP Securities' target price would suggest a potential upside of 24.49% from the company's current price.

LEN has been the topic of several other reports. Zelman & Associates cut Lennar from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Wells Fargo & Company lowered their price target on Lennar from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Seaport Res Ptn raised Lennar from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Bank of America lowered their target price on shares of Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday. Finally, Wedbush reiterated a "neutral" rating and issued a $130.00 target price on shares of Lennar in a research report on Wednesday. Sixteen analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lennar currently has a consensus rating of "Hold" and an average price target of $136.27.

Lennar Trading Up 1.0%

Shares of LEN stock opened at $104.43 on Friday. The stock has a 50 day simple moving average of $107.76 and a 200-day simple moving average of $122.08. Lennar has a 1-year low of $98.42 and a 1-year high of $187.61. The company has a market cap of $27.55 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 2.82 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.65 and a quick ratio of 0.68.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data on Monday, June 16th. The construction company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). The company had revenue of $8.38 billion for the quarter, compared to analysts' expectations of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The business's revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.45 earnings per share. On average, equities research analysts expect that Lennar will post 12.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Lennar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEN. Inspire Investing LLC lifted its position in Lennar by 44.6% in the first quarter. Inspire Investing LLC now owns 2,732 shares of the construction company's stock valued at $314,000 after buying an additional 843 shares during the last quarter. Ellsworth Advisors LLC boosted its position in shares of Lennar by 1.1% during the 1st quarter. Ellsworth Advisors LLC now owns 16,638 shares of the construction company's stock worth $1,910,000 after purchasing an additional 179 shares during the period. Advisors Capital Management LLC increased its holdings in Lennar by 1.2% in the 1st quarter. Advisors Capital Management LLC now owns 47,783 shares of the construction company's stock valued at $5,485,000 after purchasing an additional 555 shares during the last quarter. Intech Investment Management LLC lifted its stake in Lennar by 29.8% during the first quarter. Intech Investment Management LLC now owns 13,840 shares of the construction company's stock worth $1,589,000 after purchasing an additional 3,177 shares in the last quarter. Finally, Glenview Trust co grew its stake in shares of Lennar by 12.3% in the first quarter. Glenview Trust co now owns 15,742 shares of the construction company's stock valued at $1,807,000 after buying an additional 1,726 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company's stock.

About Lennar

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.