What’s Ahead for Lennar Corporation (LEN) After Forming Wedge Up?

Lennar Corporation (NYSE:LEN) Logo

Investors sentiment decreased to 0.84 in Q4 2018. Its down 0.39, from 1.23 in 2018Q3. It fall, as 80 investors sold Lennar Corporation shares while 169 reduced holdings. 78 funds opened positions while 132 raised stakes. 270.48 million shares or 0.50% less from 271.84 million shares in 2018Q3 were reported.
Alpine Woods Investors stated it has 0.64% of its portfolio in Lennar Corporation (NYSE:LEN). Moreover, Jefferies Grp Limited Liability has 0.01% invested in Lennar Corporation (NYSE:LEN). California State Teachers Retirement reported 478,280 shares. Scott & Selber Incorporated has invested 1.2% of its portfolio in Lennar Corporation (NYSE:LEN). Steinberg Asset Management Ltd Liability Corporation stated it has 0.62% in Lennar Corporation (NYSE:LEN). Thiel Macro Ltd Limited Liability Company owns 150,000 shares for 0.9% of their portfolio. Victory Capital Mgmt Inc owns 59,795 shares for 0.01% of their portfolio. Mitsubishi Ufj & Banking reported 223,827 shares or 0.04% of all its holdings. Aperio Gru Ltd Liability Company has invested 0.04% in Lennar Corporation (NYSE:LEN). First Bankshares Of Mount Dora Tru has 10,322 shares for 0.2% of their portfolio. 45,736 are held by Aqr Mngmt. Fund Mgmt Sa has invested 0.01% in Lennar Corporation (NYSE:LEN). Mariner Ltd holds 0.01% of its portfolio in Lennar Corporation (NYSE:LEN) for 9,965 shares. Swiss Natl Bank has invested 0.05% of its portfolio in Lennar Corporation (NYSE:LEN). Piedmont Inv Advsr Inc invested in 0.03% or 15,461 shares.

Since January 2, 2019, it had 0 insider purchases, and 1 sale for $800,600 activity.

The stock of Lennar Corporation (LEN) formed an up wedge with $54.11 target or 5.00 % above today’s $51.53 share price. The 8 months wedge indicates low risk for the $16.27B company. If the $54.11 price target is reached, the company will be worth $813.35 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.43% or $0.22 during the last trading session, reaching $51.53. About 909,790 shares traded. Lennar Corporation (NYSE:LEN) has declined 17.02% since May 8, 2018 and is downtrending. It has underperformed by 21.39% the S&P500.

Analysts await Lennar Corporation (NYSE:LEN) to report earnings on June, 25. They expect $1.13 EPS, down 28.48 % or $0.45 from last year’s $1.58 per share. LEN’s profit will be $356.72M for 11.40 P/E if the $1.13 EPS becomes a reality. After $0.74 actual EPS reported by Lennar Corporation for the previous quarter, Wall Street now forecasts 52.70 % EPS growth.

Lennar Corporation (NYSE:LEN) Ratings Coverage

Among 7 analysts covering Lennar (NYSE:LEN), 5 have Buy rating, 0 Sell and 2 Hold. Therefore 71% are positive. Lennar had 12 analyst reports since January 4, 2019 according to SRatingsIntel. The firm has “Neutral” rating by Wedbush given on Thursday, February 21. The rating was maintained by Bank of America on Thursday, January 10 with “Buy”. KeyBanc Capital Markets maintained the shares of LEN in report on Thursday, March 28 with “Overweight” rating. The firm has “Buy” rating by Keefe Bruyette & Woods given on Sunday, February 24. The firm has “Buy” rating given on Friday, January 4 by Citigroup. As per Wednesday, April 17, the company rating was downgraded by Susquehanna. KeyBanc Capital Markets upgraded Lennar Corporation (NYSE:LEN) on Monday, January 7 to “Overweight” rating.

More notable recent Lennar Corporation (NYSE:LEN) news were published by: Benzinga.com which released: “D.R. Horton, Inc. (NYSE:DHI), Home Depot, Inc. (The) (NYSE:HD) – After Chilly Winter, Homebuilders To Share Earnings With High Hopes Ahead – Benzinga” on April 23, 2019, also Finance.Yahoo.com with their article: “Investors Who Bought Lennar (NYSE:LEN) Shares Five Years Ago Are Now Up 39% – Yahoo Finance” published on May 04, 2019, 247Wallst.com published: “Top Analyst Upgrades and Downgrades: BofA, Danaher, Lyft, Netflix, Qualcomm, Tesla, Texas Instruments, Aurora Cannabis, Canopy Growth, Chipotle and More – 24/7 Wall St.” on April 17, 2019. More interesting news about Lennar Corporation (NYSE:LEN) were released by: Investorplace.com and their article: “10 S&P 500 Stocks to Weather the Earnings Storm – Investorplace.com” published on April 16, 2019 as well as Streetinsider.com‘s news article titled: “Lennar Corp. (LEN) Reports Acquisition of 1,602 Homesites Across 7 Communities in Raleigh, NC from Level Homes – StreetInsider.com” with publication date: April 29, 2019.

Lennar Corporation, together with its subsidiaries, engages in the homebuilding activities in the United States. The company has market cap of $16.27 billion. The firm operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily divisions. It has a 9.41 P/E ratio. The Company’s homebuilding activities primarily include the construction and sale of single-family attached and detached homes to first-time, move-up, and active adult homebuyers, as well as the purchase, development, and sale of residential land.

Lennar Corporation (NYSE:LEN) Institutional Positions Chart

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