Lennar (NYSE:LEN) Reaches New 1-Year Low – What’s Next?

Lennar Co. (NYSE:LEN) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $108.22 and last traded at $108.38, with a volume of 935716 shares traded. The stock had previously closed at $115.66.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group decreased their price objective on Lennar from $141.00 to $120.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Barclays dropped their price target on shares of Lennar from $121.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. JPMorgan Chase & Co. decreased their price objective on shares of Lennar from $192.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, December 13th. Bank of America reduced their price target on Lennar from $140.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $131.00 price objective (down previously from $159.00) on shares of Lennar in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lennar has a consensus rating of “Hold” and a consensus target price of $151.07.

Lennar Stock Up 2.3 %

The business’s 50 day moving average is $121.78 and its 200 day moving average is $148.91. The company has a quick ratio of 1.06, a current ratio of 4.71 and a debt-to-equity ratio of 0.08. The company has a market cap of $29.44 billion, a P/E ratio of 7.73, a P/E/G ratio of 1.24 and a beta of 1.51.

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

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a $0.50 dividend. The ex-dividend date was Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. Lennar’s payout ratio is 14.57%.

Hedge Funds Weigh In On Lennar

Several hedge funds and other institutional investors have recently modified their holdings of LEN. Armstrong Advisory Group Inc. raised its stake in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock worth $25,000 after acquiring an additional 75 shares during the last quarter. Wolff Wiese Magana LLC lifted its holdings in shares of Lennar by 51.0% during the fourth quarter. Wolff Wiese Magana LLC now owns 234 shares of the construction company’s stock worth $32,000 after purchasing an additional 79 shares during the period. Howard Capital Management Inc. boosted its position in Lennar by 0.3% in the fourth quarter. Howard Capital Management Inc. now owns 28,836 shares of the construction company’s stock valued at $3,932,000 after buying an additional 81 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in Lennar by 2.1% in the 4th quarter. Premier Path Wealth Partners LLC now owns 4,284 shares of the construction company’s stock worth $584,000 after buying an additional 87 shares during the period. Finally, Coldstream Capital Management Inc. raised its position in Lennar by 1.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,546 shares of the construction company’s stock worth $1,036,000 after buying an additional 92 shares during the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

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.