Lennar Corporation (NYSE:LEN) finished Wednesday with an addition of $0.62 to close at $117.17, an upside of 0.53 percent. An average of 2,550,080 shares of common stock have been traded in the last five days. There was a fall of -$5.50 in the past week, and it reached a new high 32 times over the past 12 months. The last 20 days have seen an average of 1,895,020 shares traded, while the 50-day average volume stands at 2,241,072.
LEN stock has decreased by -8.13% in the last month. The company shares reached their 1-month lowest point of $114.46 on 08/21/23. With the stock rallying to its 52-week high on 07/14/23, shares of the company touched a low of $69.90 and a high of $133.24 in 52 weeks. It has reached a new high 29 times so far this year and achieved 29.47% or $26.67 in price. In spite of this, the price is down -12.06% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
LEN stock investors should be aware that Lennar Corporation (LEN) stock had its last reported insider trading activity 35 days ago on Aug 17. In this transaction, the insider spent $1,264,800. VP/CFO/Treasurer, BESSETTE DIANE J, disposed of 10,790 shares at a price of $121.46 on Jun 22. The insider now owns more than $1,310,553 worth of shares. Prior to that, Executive Vice President McCall Jeffrey Joseph went on to Sale 10,000 shares at $113.20 each on May 15. An amount of $1,132,050 was transacted.
Valuation Metrics
Lennar Corporation (LEN) has a trailing price-to-earnings (P/E) ratio of 7.98. The stock’s beta is 1.48. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.11, the price-to-book (PB) ratio at 1.33, and the price-to-cash flow ratio at 7.84.
The company has a payout ratio of 10.20%. The company’s most recent quarterly dividend payment was $0.3750 a share, without any change from last year. Its latest increase dividend $0.1250 reported on Wednesday January 12 2022.
Financial Health
Further, the company has a long term debt to equity ratio of 0.15 and a total debt to equity ratio of 0.20 for the quarter ending May 30. Lennar Corporation’s EBITDA margin for the year ending May 30 is 20.31%, while its operating margin for the same period stands at 16.40%. Its gross profit as reported stood at $7.2 billion compared to revenue of $33.67 billion.
Earnings Surprise
For the three-month period that ended May 30, Lennar Corporation had $5.03 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $871.69 million in the quarter, while revenues of $596.53 million were shrunk -51.52%. The analyst consensus anticipated Lennar Corporation’s latest quarter earnings to come in at $2.32 per share, but it turned out to be $3.01, a 29.70% surprise. For the quarter, EBITDA amounted to $1.23 billion. Shareholders own equity worth $287.42 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Lennar Corporation (LEN) price momentum. RSI 9-day as of the close on 23 August was 32.89%, suggesting the stock is Neutral, with historical volatility in this time frame at 29.33%.
As of today, LEN’s price is $116.72 -4.48% or -$5.50 from its 5-day moving average. LEN is currently trading -7.90% lower than its 20-day SMA and +14.26% higher than its 100-day SMA. However, the stock’s current price level is +1.53% above the SMA50 and +48.32% above the SMA200.
The stochastic %K and %D were 15.73% and 11.54%, respectively, and the average true range (ATR) was 2.93. With the 14-day stochastic at 20.73% and the average true range at 2.89, the RSI (14) stands at 37.18%. The stock has reached -3.42 on the 9-day MACD Oscillator while the 14-day reading was at -5.50.
Analyst Ratings
Raymond James upgraded Lennar Corporation (NYSE: LEN) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Mkt perform. The consensus rating for Lennar Corporation (LEN) among analysts is Overweight. According to current brokerage recommendations, 2 brokerage firms advise that investors sell LEN, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 12 others rate it as a “buy”.
What is LEN’s price target for the next 12 months?
Analysts predict a range of price targets between $111.00 and $161.00, with a median target of $140.50. Taking a look at these predictions, the average price target given by analysts for Lennar Corporation (LEN) stock is $138.10.
