Lennar (NYSE:LEN) Hits New 52-Week Low – Here’s What Happened

Lennar Co. (NYSE:LEN)’s share price reached a new 52-week low on Monday . The company traded as low as $117.50 and last traded at $117.85, with a volume of 1531752 shares traded. The stock had previously closed at $119.63.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LEN. UBS Group dropped their target price on Lennar from $205.00 to $192.00 and set a “buy” rating on the stock 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. Citigroup decreased their price objective on shares of Lennar from $196.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Wedbush reissued a “neutral” rating and set a $164.00 target price on shares of Lennar in a research report on Thursday, December 19th. Finally, Wolfe Research cut shares of Lennar from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 8th. 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $163.88.

Lennar Stock Performance

The firm’s fifty day moving average price is $130.30 and its two-hundred day moving average price is $158.96. The stock has a market capitalization of $31.29 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.24 and a beta of 1.67. The company has a current ratio of 4.71, a quick ratio of 1.06 and a debt-to-equity ratio of 0.08.

Lennar (NYSE:LEN) last issued 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). Lennar had a return on equity of 13.93% and a net margin of 11.10%. The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $10.06 billion. During the same quarter last year, the company posted $4.82 EPS. The company’s revenue was down 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Lennar Co. will post 12.48 EPS for the current year.

Lennar Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Wednesday, January 29th. Lennar’s dividend payout ratio (DPR) is presently 13.95%.

Institutional Investors Weigh In On Lennar

Institutional investors have recently added to or reduced their stakes in the stock. Crews Bank & Trust purchased a new position in Lennar during the fourth quarter valued at $25,000. Armstrong Advisory Group Inc. lifted its stake in Lennar by 69.4% in the 4th quarter. Armstrong Advisory Group Inc. now owns 183 shares of the construction company’s stock valued at $25,000 after buying an additional 75 shares in the last quarter. Hurley Capital LLC acquired a new stake in Lennar in the 4th quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new stake in Lennar during the 4th quarter worth approximately $28,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lennar during the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

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.