Wells Fargo & Company Issues Pessimistic Forecast for Lennar (NYSE:LEN) Stock Price

Lennar (NYSE:LEN) had its price target lowered by equities researchers at Wells Fargo & Company from $130.00 to $125.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 4.91% from the stock’s current price.

Several other research analysts have also recently commented on LEN. Keefe, Bruyette & Woods cut Lennar from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $152.00 to $141.00 in a research note on Tuesday, March 11th. UBS Group decreased their price objective on Lennar from $205.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Wedbush reissued a “neutral” rating and set a $158.00 price target on shares of Lennar in a report on Monday. Finally, The Goldman Sachs Group decreased their price objective on Lennar from $190.00 to $162.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Fourteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $165.20.

Lennar Price Performance

LEN opened at $119.15 on Tuesday. The firm has a market cap of $31.64 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 1.24 and a beta of 1.69. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $127.21 and its 200 day moving average price is $154.87. Lennar has a 12-month low of $115.61 and a 12-month high of $187.61.

Lennar (NYSE:LEN) last announced its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). The business had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.82 EPS. As a group, sell-side analysts expect that Lennar will post 12.48 earnings per share for the current year.

Hedge Funds Weigh In On Lennar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lennar by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 204,431 shares of the construction company’s stock worth $27,878,000 after purchasing an additional 1,515 shares in the last quarter. Centaurus Financial Inc. increased its position in Lennar by 7.2% during the fourth quarter. Centaurus Financial Inc. now owns 3,149 shares of the construction company’s stock worth $429,000 after buying an additional 212 shares in the last quarter. Cim LLC raised its holdings in shares of Lennar by 0.7% in the fourth quarter. Cim LLC now owns 29,702 shares of the construction company’s stock worth $4,050,000 after acquiring an additional 212 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Lennar in the fourth quarter valued at $47,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Lennar during the 4th quarter worth about $17,586,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Lennar Company Profile

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.