Lennar Corporation (LEN) Monthly Report
Publication Date: September 22, 2024
Company Overview
Lennar Corporation (NYSE: LEN), headquartered in Miami, Florida, stands as one of the leading homebuilders in the United States. Founded in 1954, Lennar primarily operates under its signature brand while engaging in diverse business segments, including Homebuilding East, Central, Texas, West, Financial Services, and Multifamily properties. The company specializes in constructing and selling single-family homes, managing multifamily rental properties, and offering residential mortgage financing, title, insurance services, and commercial mortgage loan securitization. Lennar caters to a wide range of homebuyers, including first-time buyers, move-up buyers, active adults, and luxury home seekers, positioning itself as a prominent player in the residential construction sector within the consumer cyclical industry.
Industry Outlook
The residential construction industry shows promising potential, with Lennar’s total revenue reported at approximately $36.46 billion, reflecting significant market activity and demand. Analysts have set a target high price of $240.00 for Lennar’s stock, indicating a positive sentiment and substantial upside potential for investors. A recommendation to “buy” underlines the robust performance of the sector, driven by solid revenue figures and favorable market conditions. The potential for growth and profitability within residential construction reinforces this positive investment outlook.
Stock Performance & Analyst Insights
As of the latest data, Lennar Corporation’s stock is priced at $182.19, with a target mean price of $186.80, and a median price projection of $182.00. This analytics range indicates optimism among 15 analysts, with a recommendation mean of 2.4, leaning towards purchase. The stock is currently above its fifty-day moving average of $176.08, reflecting a strong short-term trend. Additionally, Lennar’s shares outstanding total 241,703,008, with approximately 2.46% short-sold shares, suggesting limited skepticism regarding future performance. With a broad expected price range worth $144.00 to $240.00, investor sentiment remains bullish, particularly as the 52-week high reaches $193.80, showcasing Lennar’s strong market presence and upward momentum.
| Metric | Value |
|---|---|
| Market Cap | $49.5b |
| Total Debt | $4.0b |
| Total Cash | $7.0b |
| Shares Outstanding | 241.7m |
| Float Shares | 241.0m |
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