Lennar (NYSE:LEN) Given New $98.00 Price Target at Royal Bank Of Canada

Lennar (NYSE:LEN - Get Free Report) had its target price cut by equities research analysts at Royal Bank Of Canada from $122.00 to $98.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the construction company's stock. Royal Bank Of Canada's price target indicates a potential downside of 7.00% from the company's current price.

LEN has been the topic of a number of other reports. Bank of America cut their price target on shares of Lennar from $140.00 to $130.00 and set a "neutral" rating on the stock in a report on Tuesday, March 18th. Keefe, Bruyette & Woods dropped their target price on shares of Lennar from $141.00 to $128.00 and set a "market perform" rating on the stock in a research note on Tuesday, March 25th. Barclays reduced their target price on shares of Lennar from $110.00 to $95.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Wall Street Zen upgraded Lennar from a "sell" rating to a "hold" rating in a report on Friday, April 18th. Finally, Evercore ISI restated an "in-line" rating and set a $131.00 price objective (down from $159.00) on shares of Lennar in a report on Monday, March 24th. Sixteen equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Lennar has a consensus rating of "Hold" and a consensus target price of $144.60.

Lennar Trading Up 0.7%

Lennar stock traded up $0.77 during midday trading on Wednesday, reaching $105.38. The stock had a trading volume of 649,054 shares, compared to its average volume of 3,118,964. Lennar has a 52-week low of $98.42 and a 52-week high of $193.80. The company has a fifty day moving average of $107.89 and a 200 day moving average of $122.70. The firm has a market cap of $27.80 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 2.96 and a beta of 1.34. The company has a quick ratio of 0.68, a current ratio of 3.42 and a debt-to-equity ratio of 0.10.

Lennar (NYSE:LEN - Get Free Report) last issued its quarterly earnings results on Monday, June 16th. The construction company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.04). The business had revenue of $8.38 billion during the quarter, compared to analysts' expectations of $8.21 billion. Lennar had a return on equity of 12.32% and a net margin of 9.20%. The company's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.45 earnings per share. On average, analysts anticipate that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lennar

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

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.

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