Wells Fargo & Company Raises Lennar (NYSE:LEN) Price Target to $135.00

Key Points

• Wells Fargo & Company has raised its price target for Lennar from $110.00 to $135.00, maintaining an "equal weight" rating, indicating a potential upside of 2.60% from the stock's previous close.
• In contrast, Barclays has cut its price target from $110.00 to $95.00, while UBS lowered its target from $164.00 to $146.00, illustrating mixed sentiment among analysts.
• Lennar's recent earnings report showed a discrepancy, reporting $1.90 per share, which was below the consensus estimate of $1.94, alongside a revenue decline of 4.4% year-over-year.

Lennar (NYSE:LEN - Free Report) had its target price increased by Wells Fargo & Company from $110.00 to $135.00 in a research report released on Tuesday morning, Marketbeat reports. The brokerage currently has an equal weight rating on the construction company's stock.

LEN has been the subject of several other reports. Barclays reduced their price target on Lennar from $110.00 to $95.00 and set an "equal weight" rating for the company in a report on Wednesday, June 18th. Wedbush reissued a "neutral" rating and issued a $130.00 price objective on shares of Lennar in a research note on Wednesday, June 18th. Royal Bank Of Canada cut their price objective on Lennar from $122.00 to $98.00 and set a "sector perform" rating on the stock in a research note on Wednesday, June 18th. JMP Securities lowered their target price on Lennar from $150.00 to $130.00 and set a "market outperform" rating on the stock in a report on Friday, June 20th. Finally, Keefe, Bruyette & Woods lowered their target price on Lennar from $128.00 to $114.00 and set a "market perform" rating on the stock in a report on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, Lennar presently has an average rating of "Hold" and an average target price of $130.77.

Lennar Stock Up 2.7%

Shares of Lennar stock traded up $3.74 during trading on Tuesday, hitting $141.81. 4,266,767 shares of the stock traded hands, compared to its average volume of 2,986,634. The stock has a market cap of $36.73 billion, a P/E ratio of 11.73, a PEG ratio of 5.86 and a beta of 1.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.49 and a current ratio of 3.65. Lennar has a twelve month low of $98.42 and a twelve month high of $193.80. The company has a fifty day moving average price of $121.44 and a two-hundred day moving average price of $115.01.

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 (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.04). The firm had revenue of $8.38 billion for the quarter, compared to analyst estimates of $8.21 billion. Lennar had a net margin of 9.20% and a return on equity of 12.73%. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.45 earnings per share. Equities research analysts predict that Lennar will post 12.48 EPS for the current fiscal year.

Lennar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Lennar's dividend payout ratio (DPR) is presently 16.54%.

Institutional Trading of Lennar

Several institutional investors have recently modified their holdings of the company. Centaurus Financial Inc. lifted its position in shares of Lennar by 27.2% during the 2nd quarter. Centaurus Financial Inc. now owns 4,534 shares of the construction company's stock worth $502,000 after buying an additional 970 shares during the period. Cypress Capital Advisors LLC lifted its position in shares of Lennar by 6.4% during the 2nd quarter. Cypress Capital Advisors LLC now owns 4,203 shares of the construction company's stock worth $465,000 after buying an additional 252 shares during the period. Orion Porfolio Solutions LLC lifted its position in shares of Lennar by 6.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 22,521 shares of the construction company's stock worth $2,491,000 after buying an additional 1,433 shares during the period. Hilltop Partners LLC lifted its position in shares of Lennar by 12.3% during the 2nd quarter. Hilltop Partners LLC now owns 8,417 shares of the construction company's stock worth $931,000 after buying an additional 921 shares during the period. Finally, Stance Capital LLC bought a new position in shares of Lennar during the 2nd quarter worth approximately $2,009,000. Institutional investors and hedge funds 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.