Barclays Cuts Lennar (NYSE:LEN) Price Target to $121.00

Lennar (NYSE:LEN) had its price objective decreased by Barclays from $135.00 to $121.00 in a research report sent to investors on Friday morning,Benzinga reports. Barclays currently has an equal weight rating on the construction company’s stock.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price 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. Wells Fargo & Company lowered their target price on shares of Lennar from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Keefe, Bruyette & Woods lowered 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. BTIG Research downgraded shares of Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Bank of America lowered their target price on shares of Lennar from $150.00 to $140.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $167.50.

Lennar Price Performance

NYSE LEN opened at $131.25 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.06 and a current ratio of 4.71. The firm’s 50 day moving average price is $146.21 and its 200-day moving average price is $166.24. Lennar has a 52-week low of $128.41 and a 52-week high of $193.80. The company has a market cap of $35.60 billion, a PE ratio of 9.15, a P/E/G ratio of 1.33 and a beta of 1.66.

Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, December 18th. The construction company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The business had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter in the prior year, the business posted $4.82 earnings per share. Lennar’s revenue for the quarter was down 9.3% on a year-over-year basis. Sell-side analysts forecast that Lennar will post 12.52 EPS for the current fiscal year.

Lennar Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $2.00 dividend on an annualized basis and a yield of 1.52%. Lennar’s payout ratio is 13.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LEN. Armstrong Advisory Group Inc. grew its position in shares of Lennar by 69.4% in the fourth quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after purchasing an additional 75 shares during the period. Crews Bank & Trust acquired a new stake in shares of Lennar in the fourth quarter valued at about $25,000. Oakworth Capital Inc. acquired a new stake in shares of Lennar in the third quarter valued at about $27,000. Wolff Wiese Magana LLC grew its position in shares of Lennar by 933.3% in the third quarter. Wolff Wiese Magana LLC now owns 155 shares of the construction company’s stock valued at $29,000 after purchasing an additional 140 shares during the period. Finally, GHP Investment Advisors Inc. acquired a new position in Lennar during the third quarter worth about $30,000. Hedge funds and other institutional investors 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.