Royal Bank of Canada Cuts Lennar (NYSE:LEN) Price Target to $125.00

Lennar (NYSE:LEN) had its target price lowered by research analysts at Royal Bank of Canada from $130.00 to $125.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 2.50% from the company’s previous close.

A number of other equities analysts have also commented on LEN. UBS Group decreased their price objective on shares of Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Citigroup decreased their target price on Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Barclays reduced their price objective on Lennar from $135.00 to $121.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Wedbush reaffirmed a “neutral” rating and set a $164.00 target price on shares of Lennar in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $167.19.

Lennar Stock Performance

LEN opened at $121.95 on Thursday. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The firm has a market cap of $32.38 billion, a PE ratio of 8.50, a P/E/G ratio of 1.32 and a beta of 1.67. The business has a fifty day simple moving average of $142.39 and a 200-day simple moving average of $165.10. Lennar has a fifty-two week low of $121.40 and a fifty-two week high of $193.80.

Lennar (NYSE:LEN) last released its quarterly earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter last year, the business earned $4.82 EPS. The company’s revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, equities analysts predict that Lennar will post 12.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LEN. Oakworth Capital Inc. bought a new stake in Lennar during the third quarter worth approximately $27,000. Wolff Wiese Magana LLC lifted its stake in shares of Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after buying an additional 140 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in Lennar in the 3rd quarter valued at $30,000. Asset Dedication LLC raised its holdings in Lennar by 4,225.0% in the 3rd quarter. Asset Dedication LLC now owns 173 shares of the construction company’s stock worth $32,000 after acquiring an additional 169 shares during the period. Finally, Crews Bank & Trust acquired a new position in Lennar during the 4th quarter worth $25,000. 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.