Lennar (NYSE:LEN) Given New $95.00 Price Target at Truist Financial

Key Points

• Truist cut its price target on Lennar to $95 (from $110) and kept a "hold" rating, implying essentially flat upside of about 0.08% from the current share price.
• Analyst sentiment is mixed-to-negative overall: one Strong Buy, ten Holds and eight Sells, with a consensus rating of "Reduce" and a consensus price target of $104.71.
• Lennar recently missed quarterly EPS ($0.88 vs. $0.95 expected) and saw revenue decline 13.3% year-over-year to $6.62 billion, while shares trade near $94.92, close to their 12-month low.

Lennar (NYSE:LEN - Get Free Report) had its price objective lowered by Truist Financial from $110.00 to $95.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "hold" rating on the construction company's stock. Truist Financial's price target suggests a potential upside of 0.08% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. BTIG Research set a $90.00 price target on shares of Lennar in a research note on Thursday, December 18th. Weiss Ratings reissued a "hold (c)" rating on shares of Lennar in a research note on Thursday, January 22nd. JPMorgan Chase & Co. decreased their target price on shares of Lennar from $115.00 to $80.00 and set an "underweight" rating on the stock in a research report on Thursday, December 18th. Citizens Jmp reiterated a "market perform" rating on shares of Lennar in a report on Wednesday, January 7th. Finally, Wall Street Zen lowered Lennar from a "hold" rating to a "sell" rating in a research note on Monday, December 8th. 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.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $104.71.

Lennar Price Performance

Shares of NYSE LEN traded down $0.04 during trading on Monday, reaching $94.92. The company had a trading volume of 557,782 shares, compared to its average volume of 2,968,335. The company has a current ratio of 4.77, a quick ratio of 0.97 and a debt-to-equity ratio of 0.18. Lennar has a twelve month low of $92.17 and a twelve month high of $144.24. The stock has a 50-day moving average price of $112.52 and a two-hundred day moving average price of $119.53. The stock has a market capitalization of $23.44 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 1.37 and a beta of 1.43.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The construction company reported $0.88 EPS 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 net margin of 5.39% and a return on equity of 7.80%. The firm's revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.14 EPS. As a group, sell-side analysts predict that Lennar will post 12.48 earnings per share for the current year.

Hedge Funds Weigh In On Lennar

A number of hedge funds have recently made changes to their positions in LEN. Lazard Asset Management LLC increased its holdings in shares of Lennar by 7.1% during the 2nd quarter. Lazard Asset Management LLC now owns 1,278 shares of the construction company's stock worth $141,000 after buying an additional 85 shares during the last quarter. Zions Bancorporation National Association UT grew 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 valued at $142,000 after acquiring an additional 86 shares during the period. RFG Advisory LLC increased 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 acquiring an additional 87 shares during the last quarter. Rossby Financial LCC raised 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 worth $109,000 after purchasing an additional 88 shares during the period. Finally, UMB Bank n.a. raised its holdings in shares of Lennar by 6.2% in the 3rd quarter. UMB Bank n.a. now owns 1,595 shares of the construction company's stock worth $201,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds 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.

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