Royal Bank of Canada Cuts Lennar (NYSE:LEN) Price Target to $122.00

Lennar (NYSE:LEN) had its target price decreased by Royal Bank of Canada from $125.00 to $122.00 in a research note issued to investors on Monday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the construction company’s stock.

Several other brokerages have also recently commented on LEN. Seaport Res Ptn raised Lennar from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Wolfe Research downgraded Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. Bank of America decreased their target price on Lennar from $140.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th. BTIG Research cut shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, The Goldman Sachs Group reduced their price objective on shares of Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Fifteen research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lennar has a consensus rating of “Hold” and an average target price of $154.73.

Lennar Trading Up 2.0 %

Shares of LEN stock opened at $117.52 on Monday. The firm has a market capitalization of $31.20 billion, a PE ratio of 8.20, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. Lennar has a 1 year low of $111.26 and a 1 year high of $187.61. The stock has a fifty day moving average of $125.81 and a two-hundred day moving average of $152.70.

Lennar (NYSE:LEN) last announced its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The firm had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the prior year, the firm posted $2.57 EPS. Lennar’s revenue was up 4.4% compared to the same quarter last year. As a group, research analysts expect that Lennar will post 12.48 EPS for the current year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s payout ratio is 14.57%.

Institutional Trading of Lennar

Several hedge funds and other institutional investors have recently modified their holdings of the business. Armstrong Advisory Group Inc. raised its position in Lennar by 69.4% during the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares during the period. Crews Bank & Trust acquired a new position in shares of Lennar in the 4th quarter valued at about $25,000. Hurley Capital LLC purchased a new stake in shares of Lennar in the fourth quarter worth approximately $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Lennar during the fourth quarter worth approximately $28,000. Finally, Ameriflex Group Inc. purchased a new position in Lennar during the fourth quarter valued at approximately $30,000. 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.