Separately, TheStreet Ratings team rates LENNAR CORP as a Buy with a ratings score of B+. Zacks’s target price indicates a potential upside of 12.42% from the company’s current price.
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While Lennar continues to face obstacles – like prohibitive mortgage qualification standards, a weak demand for starter homes, and shortages of construction labor and buildable land – Miller said first-time buyers accounted for 30% of Lennar’s sales in the third quarter, up 5% from a year ago.
Lennar said on Monday that orders, a key indicator of future revenue for homebuilders, rose 10.3 per cent across all regions, except Houston, in the third quarter. Moreover, Lennar’s ancillary platforms – Rialto, Multi-Family, FivePoint and Financial Services – are evolving and should improve further in the coming quarters. General Electric Firm (NYSE:GE) hit high price of $25.20 to close at $25.09 by jumping up 1.17% with session volume was recorded 29.58 Million.
A number of research analysts recently issued reports on LEN shares. FBR & Co. reaffirmed an “outperform” rating and set a $59.00 price target (up from $57.00) on shares of Lennar in a research note on Thursday, June 25th. Finally, Compass Point reissued a “hold” rating on shares of Lennar in a research report on Thursday, June 25th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $54.07.
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Lennar Corporation (NYSE:LEN) [Trend Analysis] has 200.19 million outstanding shares with market capitalization of 10.59 Billion. The timing and amounts of any purchases will depend on a variety of factors, comprising market conditions, regulatory requirements, share prices, capital availability and other factors as determined by the Firm’s management team. The company’s 50-day moving average price is $51.70 and its 200-day moving average price is $49.95. In the past 52-week period, the stock has been trading in a range of $37.50 to $56.04. Lennar Corporation (NYSE:LEN) stated that its results for its THIRD QUARTER ended August 31, 2015. Third-quarter results also compare to consensus estimates for EPS of $0.79.
