Investing.com - Argus lowered its price target on Lennar Corp. (NYSE:LEN) to $125 from $140 while maintaining a Buy rating on the homebuilder's shares. The stock currently trades at $88.83, near its 52-week low of $83.03, with Wall Street analysts setting targets ranging from $74 to $159. According to InvestingPro analysis, the stock appears undervalued at current levels.
The research firm reduced its fiscal 2026 earnings estimate to $6.13 per share from $7.04, reflecting a cut to its earnings before taxes forecast to $2.05 billion from $2.37 billion. Revenue estimates remained largely unchanged at $8.1 billion. An InvestingPro tip notes that 9 analysts have revised their earnings downwards for the upcoming period -- one of 13 exclusive tips available to subscribers.
Argus also lowered its second-quarter estimate to $1.24 per share from $1.58 and reduced its fiscal 2027 estimate to $7.86 per share from $8.85.
The firm said it remains long-term bullish on the housing market. CEO and Executive Chairman Stuart Miller stated in the first-quarter fiscal 2026 earnings release that "the fundamental shortage of housing in America has not been solved - demand is real, deferred, and building."
Miller added that "as affordability gradually improves, as rates find a more stable footing, and as the nation begins in earnest to address the regulatory and entitlement barriers that constrain supply, Lennar is extremely well positioned for long-term growth."
In other recent news, Lennar Corporation held its 2026 Annual Meeting of Stockholders, where shareholders elected all nominated directors to serve until the 2027 Annual Meeting. The directors elected include Amy Banse, Theron I. Gilliam, and others, with vote totals ranging from approximately 384 million to 453 million shares in favor. Lennar also declared a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock, payable on May 6, 2026, to shareholders of record as of April 22, 2026.
In the realm of analyst ratings, Truist Securities reiterated a Hold rating with a $90 price target due to concerns about potential impairment indicators in 10% of Lennar's active communities. Keefe, Bruyette & Woods maintained a Market Perform rating, noting ongoing debates over Lennar's land banking strategy. On the other hand, Seaport Global Securities downgraded Lennar to Sell from Buy, reducing its price target to $74 from $140, citing concerns about weakening housing activity due to a lower neutral job rate. These developments reflect a mix of shareholder decisions, financial strategies, and analyst perspectives impacting Lennar Corporation.