Lennar (NYSE:LEN) Price Target Cut to $122.00 by Analysts at Royal Bank of Canada

Lennar (NYSE:LEN - Free Report) had its target price reduced by Royal Bank of Canada from $125.00 to $122.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a sector perform rating on the construction company's stock.

A number of other equities research analysts also recently weighed in on LEN. Seaport Res Ptn upgraded Lennar from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Keefe, Bruyette & Woods downgraded shares of Lennar from an "outperform" rating to a "market perform" rating and dropped their target price for the company from $152.00 to $141.00 in a research report on Tuesday, March 11th. UBS Group cut their target price on Lennar from $205.00 to $192.00 and set a "buy" rating on the stock in a report on Wednesday, January 8th. Barclays dropped their price objective on shares of Lennar from $135.00 to $121.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. Finally, The Goldman Sachs Group decreased their price objective on shares of Lennar from $190.00 to $162.00 and set a "neutral" rating for the company in a research note on Monday, December 23rd. Fifteen equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $151.07.

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Lennar Price Performance

Shares of LEN opened at $113.83 on Monday. The business has a 50-day moving average of $124.05 and a 200-day moving average of $151.33. Lennar has a 1 year low of $111.26 and a 1 year high of $187.61. The company has a market capitalization of $30.22 billion, a price-to-earnings ratio of 7.94, 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 current ratio of 4.71 and a quick ratio of 1.06.

Lennar (NYSE:LEN - Get Free Report) last released its earnings results on Thursday, March 20th. The construction company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.44. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $7.63 billion for the quarter, compared to analyst estimates of $7.44 billion. During the same quarter in the previous year, the business earned $2.57 earnings per share. Lennar's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities research analysts anticipate that Lennar will post 12.48 earnings per share for the current year.

Lennar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar's payout ratio is 14.57%.

Hedge Funds Weigh In On Lennar

Several hedge funds and other institutional investors have recently bought and sold shares of LEN. Armstrong Advisory Group Inc. lifted 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 purchasing an additional 75 shares during the period. Crews Bank & Trust purchased a new stake in Lennar during the 4th quarter valued at $25,000. Hurley Capital LLC bought a new position in shares of Lennar during the 4th quarter valued at $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Lennar in the fourth quarter worth $28,000. Finally, Ameriflex Group Inc. purchased a new stake in Lennar during the fourth quarter valued at $30,000. Institutional investors 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.