Lennar (NYSE: LEN) was downgraded by stock analysts at JP Morgan Cazenove from an “outperform” rating to a “market perform” rating in a report issued on Monday, Analyst Ratings.Net reports.
A number of other firms have also recently commented on LEN. Analysts at JPMorgan Chase downgraded shares of Lennar from an “overweight” rating to a “neutral” rating in a research note to investors on Monday. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Lennar in a research note to investors on Friday, May 24th. Finally, analysts at RBC Capital reiterated an “outperform” rating on shares of Lennar in a research note to investors on Friday, May 17th. They now have a $50.00 price target on the stock.
One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $41.84.
Shares of Lennar (NYSE: LEN) traded down 2.88% during mid-day trading on Monday, hitting $37.49. Lennar has a one year low of $24.38 and a one year high of $44.40. The stock’s 50-day moving average is currently $41.38. The company has a market cap of $7.213 billion and a P/E ratio of 11.84.
Lennar (NYSE: LEN) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.16 by $0.10. The company had revenue of $989.90 million for the quarter, compared to the consensus estimate of $897.99 million. During the same quarter last year, the company posted $0.08 earnings per share. Lennar’s revenue was up 36.6% compared to the same quarter last year. On average, analysts predict that Lennar will post $1.67 earnings per share for the current fiscal year.
Lennar Corporation is a homebuilder and a provider of financial services and through its Rialto Investments (NYSE: LEN) segment, an investor, and manager of funds that invest in real estate assets.