Homebuilders Cut on ‘Sluggish' Housing Market, Florida Concerns [BNN Bloomberg (Canada)]
Lennar Corporation Class A (LEN)
Last lennar corporation class a earnings: 3/19 06:00 am
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Source: BNN Bloomberg
Lennar Corp. and D.R. Horton Inc. were downgraded by Citigroup Inc. analyst Anthony Pettinari on concerns the housing market could stay “sluggish” in the second half of the year. Raymond James Financial Inc.'s Buck Horne also cut his recommendation on Lennar to market perform from outperform, particularly pointing to the company's “outsized exposure” to Florida. “We see softness in data – permits, starts, sales and prices all recently below expectations – potentially continuing” in the second-half of the year, Pettinari wrote in a Tuesday note to clients. “New and existing home inventories are ticking up and the ‘twin engines' of the hot US housing market – Texas and Florida – are seeing some areas of softening.” Shares of Lennar fell 3.9% in premarket trading, and D.R. Horton was down 2.6%. Homebuilder shares soared in 2023, but had a more measured start to 2024. The S&P Composite 1500 Homebuilding Index was nearly flat through the first six months of the year, while Lennar an
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News
- LENNAR DEBUTS EDENBROOKE AT HYLAND TRAIL, A NEW AMENITY-RICH ACTIVE-ADULT COMMUNITY IN GREEN COVE SPRINGS [Yahoo! Finance]Yahoo! Finance
- Why Are Hedge Funds Bullish on Lennar Corporation (LEN) Right Now? [Yahoo! Finance]Yahoo! Finance
- Lennar Co. (NYSE: LEN) was downgraded by analysts at Raymond James from an "outperform" rating to a "market perform" rating.MarketBeat
- Lennar Co. (NYSE: LEN) had its "neutral" rating re-affirmed by analysts at Citigroup Inc.. They now have a $164.00 price target on the stock, down previously from $174.00.MarketBeat
- LENNAR ANNOUNCES THE GRAND OPENING OF CARTWRIGHT RANCH, OFFERING MASTER-PLANNED AMENITIES AND COMPETITIVE PRICING IN CRANDALL, TEXAS [Yahoo! Finance]Yahoo! Finance
LEN
Earnings
- 6/17/24 - Beat
LEN
Sec Filings
- 7/1/24 - Form 4
- 6/28/24 - Form 10-Q
- 6/24/24 - Form 8-K
- LEN's page on the SEC website