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Sure'n begorrah — we start a new trading week on the stock market with futures trying to notch higher. They've improved on the release of new economic data an hour before the opening bell.
In the most recent trading session, Lennar (LEN) closed at $118.10, indicating a +1.52% shift from the previous trading day.
Lennar and Icon, a 3D technology company, partnered to print 100 homes in Georgetown, Texas. The real estate company says about 75% of them have already sold.
Keefe, Bruyette & Woods analyst Jade J. Rahmani downgraded Lennar Corporation LEN from Outperform to Market Perform and reduced the price forecast from $152 to $141.
The housing sector continues to be more than challenged triggering a recent sharp downturn in most housing related stocks. Housing affordability remains near historical lows, new home inventory is surging, and mortgage rates are stubbornly hovering near the 7% level. New tariffs are also pushing the price of lumber higher, which will hurt profit margins for the home builders.
KBW downgraded Lennar Corp (NYSE:LEN) stock to "market perform" from "outperform," and cut its price objective to $141 to $152.
Lennar shares have declined 22% over the past year due to housing market slowdown fears, with Q1 results expected to be soft, especially in orders. Analysts forecast a significant earnings ramp for 2025, but high mortgage rates and potential tariffs pose risks to margins and demand. Florida's weak housing market, particularly in Southwest Florida, and Lennar's recent acquisition of Rausch Coleman add further uncertainty to the outlook.
The latest trading day saw Lennar (LEN) settling at $125.19, representing a -0.75% change from its previous close.
Goldman Sachs analyst Susan Maklari reiterated a Neutral rating on the shares of Lennar Corp LEN and lowered the price forecast to $141.00 from $150.00.
MIAMI , March 6, 2025 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that the Company will release earnings for the first quarter ended February 28, 2025 after the market closes on March 20, 2025. Additionally, the Company will hold a conference call on March 21, 2025 at 11:00 a.m.