Streetbeat News

LEN

Lennar Corporation

https://www.lennar.com

Industry

Residential Construction

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land; and development, construction, and management of multifamily rental properties. It also offers residential mortgage financing, title insurance, and closing services for home buyers and others, as well as originates and sells securitization commercial mortgage loans. In addition, the company is involved in the fund investment activity. It primarily serves first-time, move-up, active adult, and luxury homebuyers. Lennar Corporation was founded in 1954 and is based in Miami, Florida.

Open

168.65

Mkt cap

46B

Volume

1.4M

High

170.49

P/E Ratio

11.23

52-wk high

193.80

Low

167.94

Div yield

0.01

52-wk low

125.17

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.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 4:51 pm

Lennar Corporation (NYSE:LEN) reported Q3 earnings of $3.91 per share, beating the analyst consensus estimate of $3.51. Quarterly sales of $8.73 billion also beat the analyst consensus estimate of $8.45 billion but fell 2.28% YoY. New orders increased 37% to 19,666 homes, and the new orders dollar value increased 30% to $8.6 billion. However, the company ended the quarter with a unit backlog down 18% YoY. LEN shares are down 3.62% at $113.44.

Portfolio Pulse from Vandana Singh

September 15, 2023 | 3:45 pm

An executive from Lennar Corp has stated that the company expects to enter 2024 with a 10% initial growth expectation.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 3:25 pm

Lennar Corp's executive has stated that the net price of homes has moderated and the net average sales prices have stabilized.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 3:13 pm

Lennar (NYSE:LEN) has received mostly bullish ratings from analysts in the last quarter, with 4 bullish, 1 somewhat bullish, and 1 indifferent rating. The average 12-month price target for Lennar is $141.67, a slight decrease from the previous average of $141.75.

Portfolio Pulse from Benzinga Insights

September 15, 2023 | 3:00 pm

Wedbush analyst Jay McCanless has reiterated a Neutral rating on Lennar (NYSE:LEN) and maintained a price target of $123.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 12:14 pm

Lennar Corporation reported Q3 earnings of $3.91 per share, beating the analyst consensus estimate of $3.51. Quarterly sales of $8.73 billion also beat the analyst consensus estimate of $8.45 billion but fell 2.28% from the same period last year. New orders increased 37% to 19,666 homes and the new orders dollar value increased 30% to $8.6 billion. The company anticipates new orders in the fourth-quarter in a range between 16,200 and 17,200.

Portfolio Pulse from Ryan Gustafson

September 14, 2023 | 9:00 pm

Lennar Corporation expects its Q4 new orders to be between 16,200 and 17,200, with the average sales price remaining consistent with Q3.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:32 pm

Lennar (NYSE:LEN) reported Q3 earnings of $3.91 per share, beating the analyst consensus estimate of $3.51 by 11.4%. However, this is a 24.52% decrease from the same period last year. The company also reported quarterly sales of $8.73 billion, beating the estimate of $8.45 billion by 3.31%, but this is a 2.28% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

September 14, 2023 | 8:31 pm

Lennar Corporation (NYSE:LEN) is set to release its Q3 earnings report, with analysts expecting an EPS of $3.52, a 32% decline YoY. Despite this, Lennar has been improving its EPS over the past two quarters. Sales for Q3 are estimated at $8.49 billion, a 5% decline YoY. The company has consistently exceeded revenue forecasts in its last six earnings reports. Lennar's stock has increased by 27.7% YTD, slightly underperforming the iShares U.S. Home Construction ETF (NYSE:ITB), which has surged by 36%.

Portfolio Pulse from Piero Cingari

September 14, 2023 | 7:52 pm

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