LEN Stock Recent News

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Goldman Sachs lowered the firm's price target on Lennar to $162 from $190 and keeps a Neutral rating on the shares. The firm notes the company's weaker start to FY25 but also sees the potential for upside as conditions moderate. Goldman Sachs further cites Lennar management highlighting the ongoing focus on volumes as it looks to reduce construction costs and realize further efficiencies to benefit profitability.

Lennar Corporation (NYSE:LEN ) Q4 2024 Results Conference Call December 19, 2024 11:00 AM ET Company Participants David Collins - Vice President & Controller Stuart Miller - Executive Chairman & Co-Chief Executive Officer Jon Jaffe - Co-Chief Executive Officer & President Diane Bessette - Chief Financial Officer Fred Rothman - Chief Operating Officer Marshall Ames - Chairman, Lennar Charitable Foundation Conference Call Participants Alan Ratner - Zelman & Associates Michael Rehaut - JP Morgan Stephen Kim - Evercore ISI Trevor Allinson - Wolfe Research Susan Maklari - Goldman Sachs John Lovallo - UBS Operator Welcome to Lennar's Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode.

Lennar Corporation's Q4 and full-year 2024 results missed expectations, with revenues down 9% y/y and EPS down 15% y/y, leading to a 6% share price drop. Management's guidance for Q1 2025 was disappointing, with new orders and deliveries expected to be lower than consensus estimates, reflecting ongoing market challenges. The relationship between Fed rate cuts and mortgage rates is complex, with high 10-year treasury yields and mortgage rates dampening housing market demand.

Lennar's fourth-quarter fiscal 2024 report reflects tepid home deliveries due to increased interest rates and declining home sales margins.

The CNBC 'Halftime Report' Investment Committee weighs in on 'Stocks on the Move' and their picks.

Shares of home construction stock Lennar Corp (NYSE:LEN) are 2.7% lower at $141.98 today, and earlier hit an annual bottom of $135.21.

Lennar said higher mortgage rates have hurt sales, but the home builder also acknowledged that it needs to cut prices more to reignite buying.

Shares of Lennar (LEN) fell Thursday, a day after the home builder posted weaker-than-expected results and guidance as high mortgage rates limited sales.

Today's top earnings movers highlight consumer trends seen in the markets. Lennar (LEN) continued to show a shaky foundation for homebuilders after reporting a miss.