Lennar's stock set to rally after profit, revenue rise above expectations [MarketWatch]
Lennar Corporation Class A (LEN)
Last lennar corporation class a earnings: 3/19 06:00 am
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Source: MarketWatch
Lennar's stock set to rally after profit, revenue rise above expectations Shares of Lennar Corp. LEN, -11.58% were indicated up over 2% in premarket trading Thursday, after the home builder reported fiscal first-quarter profit and revenue that rose above expectations. The company said it was suspending its financial guidance given uncertainties surrounding the COVID-19 outbreak. Net income grew to $398.5 million, or $1.27 a share, from $239.9 million, or 74 cents a share, in the year-ago period. The FactSet consensus for earnings per share was 85 cents. Revenue increased 16.5% to $4.51 billion, above the FactSet consensus of $4.15 billion. Home deliveries rose 17% to 10,313 home, above the FactSet consensus of 9,970, while the average sales price decined 2% to $402,000, but was above expectations of $392,500. Gross margin on home sales iproved to 20.5% from 20.1%. The stock has plunged 56.1% over the past month through Wednesday, while the SPDR S&P Homebuilders ETF XHB, -10.23%
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LEN
News
- Lennar Co. (NYSE: LEN) had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $190.00 to $162.00. They now have a "neutral" rating on the stock.MarketBeat
- Lennar Co. (NYSE: LEN) had its price target lowered by analysts at Royal Bank of Canada from $160.00 to $130.00. They now have an "underperform" rating on the stock.MarketBeat
- Lennar Co. (NYSE: LEN) had its price target lowered by analysts at UBS Group AG from $225.00 to $205.00. They now have a "buy" rating on the stock.MarketBeat
- Lennar Co. (NYSE: LEN) had its price target lowered by analysts at Keefe, Bruyette & Woods from $210.00 to $170.00. They now have an "outperform" rating on the stock.MarketBeat
- Lennar Co. (NYSE: LEN) had its price target lowered by analysts at Barclays PLC from $181.00 to $135.00. They now have an "equal weight" rating on the stock.MarketBeat
LEN
Earnings
- 12/18/24 - Miss
LEN
Sec Filings
- 12/18/24 - Form 8-K
- 12/2/24 - Form 4
- 12/2/24 - Form 4
- LEN's page on the SEC website