Business

Analysts Rating Alert: Lennar Corporation (NYSE:LEN)

Finally, Credit Suisse Group AG restated a hold rating on shares of Lennar Corp.in a report on Tuesday, June 28th. They set a buy rating and a $59.00 price target for the company.

Shares of Lennar Corp. Analyst's mean target price for Swift Transportation Company (NYSE:SWFT) is 67.00 while analysts mean recommendation is 2.10.

For the period ended August 31, Lennar Corp. earned $235.8 million, or $1.01 per share.

Lennar Corp. (NYSE:LEN) had its price target trimmed by Citigroup Inc. from $50.00 to $48.00 in a report issued on Wednesday.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A- on the stock.

The average selling price (ASP) of homes delivered was $362,000, up 3.4% year over year. The 52 week high for the share price is 52.5 while the 52 week low for the stock is 37.14. Company is -42.56% away from its 52 week high and is moving 20.56% ahead of its 52 week low.

The stock advanced to $46.33, up $1.24, or 2.75 percent, in pre-market trading on Tuesday. (NYSE: LEN) now has a 50-day MA of $46.28 and 200-day MA of $46.46. Other income, net, in the third quarter of 2016 was mainly related to $17.4 million of administration fee income related to one of Lennar Homebuilding's planned joint ventures and a gain of $8.7 million on the sale of a clubhouse.

While Lennar had a solid quarter with no negative surprises, the market responded to the home-starts data, after being up the previous day on a report that showed homebuilder confidence rose to an 11-month high in September, according to Megan McGrath, an analyst at MKM Holdings LLC in Stamford, Connecticut. The company is one of the best positioned homebuilders to capitalize on the housing recovery, courtesy of the diverse revenue mix, steady top-line performance, above-average order growth and improving SG&A; leverage. During the same period in the prior year, the firm earned $0.96 earnings per share. Revenue rose to $2.8 billion, up 14% from the $2.5 billion reported a year ago. Street analysts' expected the company to deliver an EPS of $0.90.

Hedge funds have recently added to or reduced their stakes in the stock.

Gross margins on home sales were $551.7 million, or 22.6%, in the third quarter of 2016, compared to $531.4 million, or 24.1%, in the third quarter of 2015. Mizuho Asset Management Co. Lennar Corp.'s quarterly revenue was up 13.7% on a year-over-year basis. One Month Ago, shares have been suggested as BUY from "4" and "1" issued SELL signal for the company's stock. Oakmont Corp raised its position in shares of Lennar Corp.by 18.1% in the second quarter. TX now owns 47,475 shares of the company's stock valued at $2,189,000 after buying an additional 3,622 shares during the last quarter.

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Analysts Rating Alert: Lennar Corporation (NYSE:LEN)