Citigroup Maintains Lennar Corporation to Neutral with Price Target $48.00

Brokerage firm Citigroup Maintains its rating on Lennar Corporation(NYSE:LEN). In a research note issued to the investors, the brokerage major Lowers the price-target to $48.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Sep 21, 2016.

In a different note, Argus Research said it Initiates Coverage on Lennar Corporation, according to a research note issued on Jul 5, 2016. The shares have been rated ‘Buy’ by the firm. On Jun 27, 2016, Raymond James said it Upgrades its rating on Lennar Corporation. The shares have been rated ‘Outperform’ by the firm.

Lennar Corporation (LEN) shares turned negative on Tuesdays trading session with the shares closing down -1.59 points or -3.53% at a volume of 1,14,06,187. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $44.69. The peak price level was also seen at $44.69 while the days lowest was $42.81. Finally the shares closed at $43.5. The 52-week high of the shares is $53.39 while the 52-week low is $37.14. According to the latest information available, the market cap of the company is $9,533 M.

Lennar Corporation(LEN) last announced its earnings results on Jun 21, 2016 for Fiscal Year 2016 and Q2.Earnings per share were $0.95.

Several Insider Transactions has been reported to the SEC. On Sep 2, 2016, Irving Bolotin (director) sold 75,228 shares at $31.23 per share price.Also, 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.

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