Lennar Corporation (LEN) is Initiated by Wells Fargo to Market Perform

Lennar Corporation (LEN) was Initiated by Wells Fargo to “Market Perform”. Wells Fargo advised their investors in a research report released on Sep 29, 2016.

Many Wall Street Analysts have commented on Lennar Corporation. 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.Lennar Corporation was Initiated by Argus to “Buy” on Jul 5, 2016.

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 closed down -0.23 points or -0.54% at $42.72 with 19,46,235 shares getting traded on Tuesday. Post opening the session at $42.87, the shares hit an intraday low of $42.69 and an intraday high of $43.35 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

Investors should note that on Sep 21, 2016, Lennar Corporation announced a cash dividend of $0.0400. The company’s management has announced Oct 3, 2016 as the ex-dividend date and fixed the record date on Oct 5, 2016. The payable date has been fixed on Oct 20, 2016.

In a different news, on Sep 2, 2016, Irving Bolotin (director) sold 75,228 shares at $31.23 per share price. According to the SEC, on Jul 6, 2016, Jonathan M Jaffe (Vice President/COO) sold 20,000 shares at $46.25 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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