Royal Bank Of Canada Issues Positive Forecast for Lennar (NYSE:LEN) Stock Price

Key Points

• Royal Bank of Canada has raised its price target for Lennar's stock from $98.00 to $106.00, while maintaining a "sector perform" rating, indicating potential downside from the current price.
• Analysts have mixed sentiments on Lennar, with an average rating of "Hold" and a consensus target price of $122.00, showing variances in expectations among different firms.
• Lennar reported quarterly earnings indicating growth with $2.29 earnings per share, surpassing estimates, yet revenue fell 6.4% year-over-year to $8.81 billion.

Lennar (NYSE:LEN - Get Free Report) had its target price raised by Royal Bank Of Canada from $98.00 to $106.00 in a report released on Monday,MarketScreener 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 13.04% from the company's current price.

LEN has been the subject of a number of other research reports. UBS Group boosted their price objective on shares of Lennar from $146.00 to $161.00 and gave the stock a "buy" rating in a research note on Monday. Keefe, Bruyette & Woods reduced their price objective on shares of Lennar from $128.00 to $114.00 and set a "market perform" rating for the company in a research note on Friday, June 20th. Wells Fargo & Company boosted their price objective on shares of Lennar from $110.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 2nd. Zelman & Associates downgraded shares of Lennar from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 18th. Finally, Bank of America upped their price target on Lennar from $115.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $123.25.

Lennar Trading Down 4.3%

Shares of Lennar stock traded down $5.43 on Monday, hitting $121.90. 6,039,107 shares of the company traded hands, compared to its average volume of 3,870,134. The stock's 50 day moving average price is $126.15 and its 200-day moving average price is $115.89. The company has a current ratio of 4.49, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. Lennar has a 52 week low of $98.42 and a 52 week high of $189.65. The company has a market cap of $31.57 billion, a PE ratio of 12.04, a PEG ratio of 5.40 and a beta of 1.33.

Lennar (NYSE:LEN - Get Free Report) last posted its quarterly earnings results on Thursday, September 18th. The construction company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.15. Lennar had a net margin of 7.72% and a return on equity of 11.09%. The firm had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $9.01 billion. During the same quarter in the previous year, the firm posted $3.90 earnings per share. The company's revenue was down 6.4% on a year-over-year basis. Equities research analysts predict that Lennar will post 12.48 EPS for the current year.

Institutional Investors Weigh In On Lennar

A number of large investors have recently made changes to their positions in the stock. Caldwell Trust Co purchased a new stake in shares of Lennar during the second quarter valued at $218,000. Valeo Financial Advisors LLC grew its holdings in shares of Lennar by 9.4% during the second quarter. Valeo Financial Advisors LLC now owns 9,668 shares of the construction company's stock valued at $1,069,000 after buying an additional 827 shares during the last quarter. Centaurus Financial Inc. grew its holdings in shares of Lennar by 27.2% during the second quarter. Centaurus Financial Inc. now owns 4,534 shares of the construction company's stock valued at $502,000 after buying an additional 970 shares during the last quarter. Cypress Capital Advisors LLC boosted its holdings in Lennar by 6.4% in the second quarter. Cypress Capital Advisors LLC now owns 4,203 shares of the construction company's stock valued at $465,000 after purchasing an additional 252 shares during the last quarter. Finally, Orion Porfolio Solutions LLC boosted its holdings in Lennar by 6.8% in the second quarter. Orion Porfolio Solutions LLC now owns 22,521 shares of the construction company's stock valued at $2,491,000 after purchasing an additional 1,433 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.