Lennar Corporation (LEN) is Upgraded by Buckingham Research to Buy

Lennar Corporation (LEN) was Upgraded by Buckingham Research to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Buckingham Research advised their investors in a research report released on Oct 17, 2016.

Many Wall Street Analysts have commented on Lennar Corporation. Lennar Corporation was Initiated by Wells Fargo to “Market Perform” on Sep 29, 2016. Shares were Reiterated by RBC Capital Mkts on Sep 21, 2016 to “Outperform” and Lowered the Price Target to $ 55 from a previous price target of $64 .Wedbush Initiated Lennar Corporation on Sep 20, 2016 to “Neutral”, Price Target of the shares are set at $46.

On the company’s financial health, Lennar Corporation reported $1.01 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Sep 20, 2016. Analyst had a consensus of $0.89. The company had revenue of $2833.90 million for the quarter, compared to analysts expectations of $2693.21 million. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS.

Lennar Corporation opened for trading at $41.19 and hit $41.8 on the upside on Friday, eventually ending the session at $41.36, with a gain of 0.98% or 0.4 points. The heightened volatility saw the trading volume jump to 29,77,252 shares. Company has a market cap of $9,422 M.

In a different news, on Oct 5, 2016, Jonathan M Jaffe (Vice President/COO) sold 20,000 shares at $42.01 per share price. According to the SEC, on Sep 2, 2016, Irving Bolotin (director) sold 75,228 shares at $31.23 per share price. On Apr 8, 2016, Sherrill W Hudson (director) sold 2,500 shares at $47.54 per share price, according to the Form-4 filing with the securities and exchange commission.

Lennar Corporation is a real estate company. The Company is a homebuilder a provider of real estate-related financial services a commercial real estate investment investment management and finance company. It operates under Homebuilding Operations Lennar Financial Services Rialto and Lennar Multifamily segments. It has grouped its homebuilding activities into five segments: Homebuilding East Homebuilding Central Homebuilding West Homebuilding Southeast Florida and Homebuilding Houston. Its homebuilding operations include the construction and sale of single-family attached and detached homes. Lennar Financial Services offers residential mortgage loan products to buyers of their homes and others. The Rialto segment is a commercial real estate investment investment management and finance company. The Lennar Multifamily segment focuses on developing a portfolio of multifamily rental properties in select United States markets. It operates under brand name Lennar.

Lennar Corporation

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