Lennar shares are trading lower following Q3 results. While revenue and EPS beat estimates, the company said average sales price per home declined year over year.
Portfolio Pulse from Benzinga Newsdesk
Lennar Corporation's Q3 results led to a decline in its shares. Despite beating revenue and EPS estimates, the company reported a year-over-year decrease in the average sales price per home.
September 15, 2023 | 4:51 pm
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Lennar's shares are trading lower due to a decrease in the average sales price per home, despite beating Q3 revenue and EPS estimates.
Lennar's stock price is likely to be negatively impacted in the short term due to the reported decrease in the average sales price per home. This is despite the company's Q3 revenue and EPS beating estimates, which would typically be a positive signal for investors. The decline in home prices indicates potential challenges in the company's core business, which could be a concern for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100