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Lennar Corporation (LEN) Earnings Blow Away Expectations

20 Juin 2017

Lennar Corp. (LEN) shares rose more than 5 percent on Tuesday after the homebuilder had said its second-quarter earnings topped analysts' estimates and said contrary to recent data the USA housing market is in good shape. The stock has a market cap of $12.37 billion, a P/E ratio of 15.26 and a beta of 1.32. The stock's 50 day moving average is $51.58 and its 200 day moving average is $48.57. Alliancebernstein L.P. boosted its stake in shares of Lennar Corporation by 527.2% in the first quarter. Fisher Asset Management LLC bought a new position in shares of Lennar Corporation during the first quarter valued at about $206,000.

Several analysts have recently weighed in on the stock. Wedbush restated a "neutral" rating and issued a $46.00 price target on shares of Lennar Corporation in a report on Thursday, June 15th. Deutsche Bank AG decreased their price objective on shares of Lennar Corporation from $52.00 to $49.00 and set a "hold" rating for the company in a research report on Thursday, March 23rd. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Lennar Corporation in a research note on Thursday, April 6th. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of US & worldwide copyright law. On average, equities research analysts anticipate that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.

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TRADEMARK VIOLATION WARNING: "Lennar Corporation (LEN) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS" was originally reported by Sports Perspectives and is owned by of Sports Perspectives. Capital Growth Management LP boosted its stake in shares of Lennar Corporation by 55.5% in the first quarter. The company presently has a consensus rating of "Buy" and a consensus target price of $54.19. MUFG Americas Holdings Corp raised its position in shares of Lennar Corporation by 8.9% in the first quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Lennar Corporation by 27.0% in the first quarter. Nomura Holdings Inc. now owns 597,709 shares of the construction company's stock valued at $30,603,000 after buying an additional 552,547 shares during the period. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.