Citigroup Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price objective decreased by analysts at Citigroup from $196.00 to $150.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. Citigroup’s price objective indicates a potential upside of 10.98% from the company’s previous close.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. reduced their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. UBS Group lowered their price objective on Lennar from $225.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Keefe, Bruyette & Woods decreased their target price on shares of Lennar from $210.00 to $170.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company dropped their price target on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Evercore ISI decreased their price objective on shares of Lennar from $240.00 to $236.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $172.31.

Lennar Stock Down 0.5 %

NYSE LEN traded down $0.72 on Monday, hitting $135.16. The stock had a trading volume of 1,402,817 shares, compared to its average volume of 1,765,102. The business’s fifty day moving average price is $160.25 and its 200 day moving average price is $168.40. The stock has a market cap of $36.66 billion, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 1.28 and a beta of 1.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.90 and a quick ratio of 0.98. Lennar has a 52-week low of $133.72 and a 52-week high of $193.80.

Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.15 by ($0.12). The company had revenue of $9.95 billion for the quarter, compared to analyst estimates of $10.06 billion. Lennar had a return on equity of 15.47% and a net margin of 11.51%. The company’s quarterly revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.82 earnings per share. Equities research analysts anticipate that Lennar will post 14.11 earnings per share for the current year.

Insider Activity

In other Lennar news, Director Jeffrey Sonnenfeld sold 17,500 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $175.13, for a total value of $3,064,775.00. Following the completion of the sale, the director now directly owns 23,689 shares in the company, valued at $4,148,654.57. This represents a 42.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.36% of the company’s stock.

Institutional Investors Weigh In On Lennar

A number of hedge funds have recently modified their holdings of LEN. Oakworth Capital Inc. purchased a new stake in shares of Lennar in the 3rd quarter valued at approximately $27,000. Wolff Wiese Magana LLC boosted its position in shares of Lennar by 933.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock worth $29,000 after purchasing an additional 140 shares during the period. GHP Investment Advisors Inc. acquired a new stake in shares of Lennar in the third quarter valued at $30,000. Asset Dedication LLC lifted its stake in Lennar by 4,225.0% during 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 in the last quarter. Finally, DT Investment Partners LLC boosted its holdings in Lennar by 523.3% during the 3rd quarter. DT Investment Partners LLC now owns 187 shares of the construction company’s stock valued at $35,000 after acquiring an additional 157 shares during the period. Hedge funds and other institutional investors 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.