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

Lennar (NYSE:LEN) had its price target lowered by equities research analysts at Wells Fargo & Company from $130.00 to $125.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 3.69% from the company’s current price.

LEN has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price objective on Lennar from $192.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, December 13th. Barclays dropped their price objective on Lennar from $135.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Wolfe Research lowered Lennar from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, January 8th. BTIG Research lowered Lennar from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Bank of America dropped their price objective on Lennar from $150.00 to $140.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Fourteen investment 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $164.53.

Lennar Price Performance

NYSE LEN opened at $120.55 on Tuesday. Lennar has a fifty-two week low of $115.61 and a fifty-two week high of $187.61. The stock’s 50-day moving average is $126.66 and its two-hundred day moving average is $154.18. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.71 and a quick ratio of 1.06. The firm has a market cap of $32.01 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69.

Lennar (NYSE:LEN) last posted its earnings results on Wednesday, December 18th. The construction company reported $4.03 earnings per share for the quarter, missing the consensus estimate of $4.15 by ($0.12). Lennar had a net margin of 11.10% and a return on equity of 13.93%. The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $10.06 billion. During the same quarter last year, the business earned $4.82 earnings per share. Lennar’s quarterly revenue was down 9.3% on a year-over-year basis. On average, analysts anticipate that Lennar will post 12.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lennar

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in Lennar by 3.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,116,558 shares of the construction company’s stock valued at $834,115,000 after purchasing an additional 213,003 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Lennar by 1.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,903,555 shares of the construction company’s stock worth $1,106,798,000 after acquiring an additional 73,638 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Lennar by 22.0% in the 4th quarter. Pacer Advisors Inc. now owns 3,271,319 shares of the construction company’s stock worth $446,110,000 after acquiring an additional 589,553 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Lennar by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 3,239,488 shares of the construction company’s stock worth $441,769,000 after acquiring an additional 515,378 shares in the last quarter. Finally, Smead Capital Management Inc. boosted its holdings in shares of Lennar by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,666,905 shares of the construction company’s stock worth $499,991,000 after acquiring an additional 89,896 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

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.