Jefferies initiated coverage on Lennar with a new price target
$LEN
Homebuilding
Consumer Discretionary
Jefferies initiated coverage of Lennar with a rating of Hold and set a new price target of $117.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/7/2024 | $205.00 → $190.00 | Overweight → Equal Weight | Wells Fargo |
| 8/5/2024 | Buy → Neutral | Seaport Research Partners | |
| 7/22/2024 | $180.00 → $174.00 | Buy → Neutral | Goldman |
| 7/9/2024 | $144.00 | Underperform → Neutral | Wedbush |
| 7/2/2024 | Outperform → Mkt Perform | Raymond James | |
| 7/2/2024 | $174.00 → $164.00 | Buy → Neutral | Citigroup |
| 4/2/2024 | $144.00 | Neutral → Underperform | Wedbush |
| 11/27/2023 | $117.00 | Hold | Jefferies |
MIAMI, Sept. 25, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's leading homebuilders, announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock payable on October 24, 2024 to holders of record at the close of business on October 9, 2024. About LennarLennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes an
Third Quarter 2024 Highlights - comparisons to the prior year quarter Net earnings per diluted share increased 10% to $4.26$3.90, excluding mark-to-market gains on technology investments and one-time items in the Company's Multifamily segmentNet earnings increased 5% to $1.2 billionNew orders increased 5% to 20,587 homesBacklog of 16,944 homes with a dollar value of $7.7 billionDeliveries increased 16% to 21,516 homesTotal revenues of $9.4 billionHomebuilding operating earnings of $1.5 billionGross margin on home sales of 22.5%S,G&A expenses as a % of revenues from home sales of 6.7%Net margin on home sales of 15.8%Financial Services operating earnings of $144 millionMultifamily operating ea
MIAMI, Sept. 5, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's largest homebuilders, announced today that the Company will release earnings for the third quarter ended August 31, 2024 after the market closes on September 19, 2024. Additionally, the Company will hold a conference call on September 20, 2024 at 11:00 a.m. Eastern Time. The call will be broadcast live on the Internet and can be accessed through Lennar's website at investors.lennar.com. If you are unable to participate during the live webcast, the call will be archived at investors.lennar.com for 90 days. Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for a
4 - LENNAR CORP /NEW/ (0000920760) (Issuer)
4 - LENNAR CORP /NEW/ (0000920760) (Issuer)
Shares of Lennar Corp (NYSE:LEN) declined in premarket trading on Monday, just weeks after the company announced plans to spin off its land assets. Although the company is poised to benefit from its greater exposure to entry level and first-time buyers as the Federal Reserve cuts interest rates, this is already reflected in the stock valuation, according to Goldman Sachs. The Lennar Analyst: Susan Maklari downgraded the rating for Lennar from Buy to Neutral, while reducing the price target from $180 to $174. The Lennar Thesis: Following the recent outperformance, the stock may remain range bound in the near term, Maklari said in the downgrade note. Check out other analyst stock r
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Goldman Sachs cut the price target for Lennar Corporation (NYSE:LEN) from $180 to $174. Goldman Sachs analyst Susan Maklari downgraded the stock from Buy to Neutral. Lennar shares gained 0.5% to close at $170.94 on Friday. See how other analysts view this stock. Piper Sandler increased the price target for NVIDIA Corporation (NASDAQ:NVDA) from $120 to $140. Piper Sandler analyst Harsh Kumar maintained an Overweight rating. NVIDIA shares fell 2.6% to close at $117.93 on Friday. See how other analyst
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page. Guggenheim analyst John Difucci downgraded the rating for CrowdStrike Holdings, Inc. (NASDAQ:CRWD) from Buy to Neutral. CrowdStrike shares fell 11.1% to settle at $304.96 on Friday. See how other analysts view this stock. See how other analysts view this stock. B. Riley Securities analyst Mike Crawford downgraded Redwire Corporation (NYSE:RDW) from Buy to Neutral, but raised the price target from $6 to $8. Redwire shares fell 0.9% to close at $6.98 on Friday. See how other analysts vie
SC 13G - LENNAR CORP /NEW/ (0000920760) (Subject)
SC 13D/A - LENNAR CORP /NEW/ (0000920760) (Subject)
SC 13G/A - LENNAR CORP /NEW/ (0000920760) (Subject)
4 - LENNAR CORP /NEW/ (0000920760) (Issuer)
4 - LENNAR CORP /NEW/ (0000920760) (Issuer)
4 - LENNAR CORP /NEW/ (0000920760) (Issuer)
Wells Fargo downgraded Lennar from Overweight to Equal Weight and set a new price target of $190.00 from $205.00 previously
Seaport Research Partners downgraded Lennar from Buy to Neutral
Goldman downgraded Lennar from Buy to Neutral and set a new price target of $174.00 from $180.00 previously
10-Q - LENNAR CORP /NEW/ (0000920760) (Filer)
8-K - LENNAR CORP /NEW/ (0000920760) (Filer)
10-Q - LENNAR CORP /NEW/ (0000920760) (Filer)
MIAMI, Nov. 19, 2024 /PRNewswire/ -- Lennar Corporation (NYSE:LEN) announced today that it has entered into a definitive agreement to acquire Rausch Coleman Homes, a residential homebuilder based in Fayetteville, Arkansas. Lennar will acquire Rausch Coleman's homebuilding operations, which expects to deliver approximately 5,000 homes with an average sales price of $230,000 in calendar year 2024. In connection with Lennar's land light strategy, Lennar intends to assign the purchase of, and option, all of Rausch Coleman's land assets with a third party. With this acquisition, Lennar will expand its footprint into new markets in Arkansas, Oklahoma, Alabama, Kansas and Missouri while adding to
High-Rise Community Offers the Closest Luxury Living to the Water in Sarasota Bay SARASOTA, Fla., Nov. 14, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, today announced the start of leasing at Cordelia, a luxury high-rise community in Downtown Sarasota, Fla., on Sarasota Bay. Part of a 14-acre master development, Cordelia includes 240 luxury homes and 13,811 square feet of ground floor retail space. The community sits along a central green space with spectacular views
Emblem community to add 288 apartment homes to bolster attainable housing options in Summerville, S.C. SUMMERVILLE, S.C., Oct. 1, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a multifamily apartment developer, property manager, and asset manager, today announced the start of construction at Emblem Summerville, an attainably priced community located in the historic city of Summerville, South Carolina, 25 miles northwest of Charleston. Emblem Summerville is a 288-home garden style community with spacious modern homes, an extensive amenitie
Ferguson Enterprises Inc. (the "Company") today announces that it will hold its first annual meeting of stockholders (the "Annual Meeting") on December 5, 2024 as the successor registrant of Ferguson plc, subject to the consummation of the Merger (as defined below), and announces the appointment of Rekha Agrawal and Richard ("Rick") Beckwitt to the Company's board as non-employee directors ("NEDs"). "We are delighted to welcome Rekha and Rick to the Board," said Geoff Drabble, Board Chair of Ferguson Enterprises Inc. "They bring significant operational and leadership experience, creating value for large publicly listed companies operating in the U.S. Their industry knowledge and experienc
Invitation Homes will manage the 4,400 homes in the portfolio that are within its core markets and invest in the joint venture Invitation Homes Inc. (NYSE:INVH), the nation's premier single-family home leasing and management company, announced today that it has entered into a joint venture with Quarterra Group Inc., a wholly-owned subsidiary of Lennar Corporation (NYSE:LEN), Centerbridge Partners, L.P., and other high quality institutional investors. As part of their agreement, Invitation Homes has acquired a minority equity interest in a portfolio of single-family homes for lease that are part of the Upward America joint venture. Upward America has selected Invitation Homes to provide ma
MIAMI, July 14, 2023 /PRNewswire/ -- Lennar Corporation (NYSE:LEN), one of the nation's leading homebuilders, announced today that after 17 years with Lennar, Rick Beckwitt has decided to retire as a Co-CEO and Co-President and resign as a member of the Board of Directors of the Company. Mr. Beckwitt joined Lennar in March 2006 as Executive Vice President. He was a member of the executive team and worked diligently to weather the collapse of the housing and finance industries during the Great Recession of 2008. Through teamwork and dedication, Lennar was able to stabilize and fortify its foundation, setting the stage for growth and productivity. By April 2018, Mr. Beckwitt became Chief Execu