Lennar (NYSE:LEN) Given New $130.00 Price Target at JMP Securities

Lennar (NYSE:LEN - Free Report) had its target price trimmed by JMP Securities from $150.00 to $130.00 in a research note published on Friday,Benzinga reports. The firm currently has a market outperform rating on the construction company's stock.

A number of other equities analysts have also issued reports on the company. Evercore ISI decreased their price target on Lennar from $131.00 to $114.00 and set an "in-line" rating for the company in a research note on Wednesday, June 18th. Keefe, Bruyette & Woods decreased their target price on Lennar from $141.00 to $128.00 and set a "market perform" rating for the company in a research report on Tuesday, March 25th. Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Bank of America cut their target price on Lennar from $110.00 to $105.00 and set a "neutral" rating on the stock in a report on Wednesday, June 18th. Finally, Royal Bank Of Canada cut their target price on Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $132.50.

Lennar Stock Performance

Shares of Lennar stock traded up $4.35 on Friday, reaching $110.77. 3,496,803 shares of the company were exchanged, compared to its average volume of 2,672,834. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65. The company's 50-day moving average is $107.88 and its two-hundred day moving average is $120.63. The firm has a market cap of $29.22 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 4.12 and a beta of 1.34. Lennar has a 1-year low of $98.42 and a 1-year high of $187.61.

Lennar (NYSE:LEN - Get Free Report) last announced its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.94 by ($0.04). Lennar had a return on equity of 12.73% and a net margin of 9.20%. The company had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. During the same quarter in the previous year, the company posted $3.45 earnings per share. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts expect that Lennar will post 12.48 earnings per share for the current fiscal year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, July 3rd. Lennar's payout ratio is currently 16.54%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LEN. Hurley Capital LLC bought a new position in Lennar in the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Lennar in the 4th quarter valued at $28,000. Ameriflex Group Inc. acquired a new position in shares of Lennar in the 4th quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new position in Lennar in the 1st quarter worth $30,000. Finally, NBC Securities Inc. acquired a new position in Lennar in the 1st quarter worth $33,000. 81.10% of the stock is owned by institutional investors and hedge funds.

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.