Lennar (LEN) Given a $60.00 Price Target by Wedbush Analysts

Wedbush set a $60.00 target price on Lennar (NYSE:LEN) in a research report released on Thursday morning. The brokerage currently has a hold rating on the construction company’s stock. Wedbush also issued estimates for Lennar’s Q1 2018 earnings at $0.86 EPS, Q2 2018 earnings at $1.21 EPS, Q3 2018 earnings at $1.48 EPS and Q4 2018 earnings at $1.91 EPS.

LEN has been the subject of a number of other reports. UBS Group initiated coverage on shares of Lennar in a research note on Wednesday, October 25th. They issued a buy rating for the company. Zacks Investment Research raised shares of Lennar from a hold rating to a buy rating and set a $57.00 price target for the company in a research note on Friday, September 15th. MKM Partners raised shares of Lennar from a neutral rating to a buy rating and set a $64.00 price target for the company in a research note on Wednesday, October 4th. Bank of America increased their price target on shares of Lennar from $63.00 to $65.00 and gave the stock a buy rating in a research note on Wednesday, October 4th. Finally, Mizuho reissued a hold rating and issued a $53.00 price target on shares of Lennar in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $59.60.

Lennar (LEN) traded down $0.28 during mid-day trading on Thursday, reaching $66.95. 4,595,700 shares of the company were exchanged, compared to its average volume of 4,650,900. Lennar has a 12 month low of $43.13 and a 12 month high of $67.45. The company has a market capitalization of $15,600.00, a P/E ratio of 19.29, a P/E/G ratio of 1.34 and a beta of 1.35. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72.

Lennar (NYSE:LEN) last released its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. Lennar had a net margin of 6.65% and a return on equity of 12.37%. The company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. Lennar’s revenue was up 15.1% on a year-over-year basis. equities research analysts anticipate that Lennar will post 4.04 earnings per share for the current year.

In other news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 371,043 shares in the company, valued at $22,262,580. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $64.02, for a total transaction of $1,280,400.00. Following the sale, the chief operating officer now owns 99,000 shares in the company, valued at approximately $6,337,980. The disclosure for this sale can be found here. Corporate insiders own 12.18% of the company’s stock.

Several large investors have recently bought and sold shares of LEN. D.A. Davidson & CO. grew its holdings in shares of Lennar by 8.9% during the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after buying an additional 155 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in Lennar by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after purchasing an additional 530 shares during the last quarter. QS Investors LLC boosted its holdings in Lennar by 1.0% in the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after purchasing an additional 25 shares during the last quarter. Chartist Inc. CA purchased a new stake in Lennar in the second quarter worth approximately $200,000. Finally, Fiera Capital Corp purchased a new stake in Lennar in the second quarter worth approximately $224,000. Hedge funds and other institutional investors own 81.25% of the company’s stock.

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About Lennar

Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.

Analyst Recommendations for Lennar (NYSE:LEN)

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