JMP Securities Reaffirms Market Outperform Rating for Lennar (NYSE:LEN)

Posted by Alice Vandehei on Mar 19th, 2023

JMP Securities reaffirmed their market outperform rating on shares of Lennar (NYSE:LEN – Get Rating) in a report issued on Thursday morning, Benzinga reports. JMP Securities currently has a $115.00 target price on the construction company’s stock.

Other equities research analysts also recently issued research reports about the company. BTIG Research increased their price objective on Lennar from $116.00 to $120.00 in a research report on Thursday. Royal Bank of Canada downgraded Lennar from a sector perform rating to an underperform rating and lowered their price objective for the stock from $79.00 to $76.00 in a research report on Friday, January 13th. Oppenheimer started coverage on Lennar in a research report on Wednesday, March 1st. They set a market perform rating on the stock. KeyCorp raised their price target on Lennar from $100.00 to $110.00 and gave the company an overweight rating in a research report on Friday, December 16th. Finally, Bank of America upgraded Lennar from an underperform rating to a neutral rating and raised their price target for the company from $92.00 to $102.00 in a research report on Wednesday, January 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $102.07.

Lennar Price Performance

Lennar stock opened at $103.50 on Thursday. Lennar has a one year low of $62.54 and a one year high of $109.28. The business has a fifty day moving average price of $99.53 and a 200-day moving average price of $88.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.82 and a quick ratio of 1.48. The firm has a market capitalization of $29.98 billion, a P/E ratio of 6.42, a PEG ratio of 1.92 and a beta of 1.42.

Lennar (NYSE:LEN – Get Rating) last posted its quarterly earnings results on Wednesday, March 15th. The construction company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.56. Lennar had a return on equity of 21.18% and a net margin of 13.86%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $5.99 billion. During the same period last year, the company earned $2.70 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. As a group, equities research analysts forecast that Lennar will post 9.19 EPS for the current year.

Lennar Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, January 27th were paid a dividend of $0.375 per share. The ex-dividend date was Thursday, January 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.45%. Lennar’s dividend payout ratio (DPR) is currently 9.30%.

Institutional Trading of Lennar

Several large investors have recently modified their holdings of LEN. Cambridge Investment Research Advisors Inc. grew its stake in shares of Lennar by 10.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,184 shares of the construction company’s stock worth $989,000 after purchasing an additional 1,173 shares during the last quarter. Cibc World Market Inc. grew its stake in shares of Lennar by 6.8% in the first quarter. Cibc World Market Inc. now owns 9,499 shares of the construction company’s stock worth $771,000 after purchasing an additional 602 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Lennar by 172.1% in the first quarter. Vontobel Holding Ltd. now owns 14,925 shares of the construction company’s stock worth $1,256,000 after purchasing an additional 9,440 shares during the last quarter. Prudential PLC bought a new stake in shares of Lennar in the first quarter worth about $1,711,000. Finally, Moors & Cabot Inc. bought a new stake in shares of Lennar in the first quarter worth about $200,000. 82.68% of the stock is owned by institutional investors.

About Lennar

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Lennar Corp. engages in the provision of real estate related financial and investment management services. It operates through the following segments: Homebuilding East, Central, Texas, and West, Financial Services, Multifamily, and Lennar Other. The Homebuilding East, Central, Texas, and West segment constructs and sells homes primarily for first-time, move-up, and active adult homebuyers primarily under the Lennar brand name.