Wedbush Reiterates "Neutral" Rating for Lennar (NYSE:LEN)

Key Points

• Wedbush has reiterated its neutral rating for Lennar, maintaining a target price of $130.00, indicating a potential upside of 2.23% from its previous close.
• Lennar reported $2.29 earnings per share for the last quarter, beating estimates, but its revenue decreased by 6.4% year-over-year, coming in at $8.81 billion.
• Overall, analysts rate Lennar with a consensus of Hold, with one Strong Buy, two Buy, fourteen Hold, and one Sell rating, and a consensus target price of $122.42.

Wedbush reiterated their neutral rating on shares of Lennar (NYSE:LEN - Free Report) in a research note issued to investors on Monday,Benzinga reports. They currently have a $130.00 price target on the construction company's stock.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America boosted their target price on shares of Lennar from $115.00 to $135.00 and gave the company a "neutral" rating in a research report on Thursday. Zelman & Associates cut shares of Lennar from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 18th. UBS Group upped their price objective on shares of Lennar from $146.00 to $161.00 and gave the stock a "buy" rating in a research report on Monday. Wall Street Zen cut shares of Lennar from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Finally, Zacks Research raised shares of Lennar from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. One equities 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lennar currently has a consensus rating of "Hold" and an average target price of $123.25.

Lennar Stock Performance

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

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LEN. Ameriflex Group Inc. acquired a new position in shares of Lennar in the fourth quarter valued at approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in Lennar during the 1st quarter valued at approximately $30,000. NBC Securities Inc. acquired a new stake in Lennar during the 1st quarter valued at approximately $33,000. FNY Investment Advisers LLC acquired a new stake in Lennar during the 2nd quarter valued at approximately $33,000. Finally, Rexford Capital Inc. acquired a new stake in Lennar during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 81.10% of the company's stock.

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.