LEN Stock Recent News

Get a deeper insight into the potential performance of Lennar (LEN) for the quarter ended August 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

Lennar Corporation's stock has surged 40% since July 2023, outperforming the S&P 500, driven by strong demand and expanded earnings multiples despite growth deceleration. Lennar's Q3 earnings report will reveal interesting data. I am focusing on its asset-light transition, handling of construction costs, and the impact of declining mortgage rates. The housing affordability crisis persists despite lower mortgage rates, posing long-term challenges for Lennar, potentially squeezing profit margins due to necessary buyer incentives.

In the latest trading session, Lennar (LEN) closed at $180.23, marking a +0.02% move from the previous day.

Homebuilder stocks surged in July as a

Lennar is the second-largest US homebuilder, with the Homebuilding segment accounting for over 90% of revenues and EBIT. The company has outperformed the iShares US Consumer Discretionary ETF in 2024, delivering a 23% total return. I think Lennar has further upside thanks to an attractive valuation, a conservative capital structure, and sector-wide tailwinds from lower mortgage rates as the Fed normalizes policy.

The Investment Committee give you their top stocks to watch for the second half.

Buffett owns two similar stocks -- Lennar and NVR. Shares of both homebuilders should soar if the Fed cuts interest rates.

Lennar (LEN) closed at $174 in the latest trading session, marking a -0.84% move from the prior day.

The numbers: Builder confidence fell for the fourth month in a row in August, as elevated mortgage rates continue to spook home buyers.

In the most recent trading session, Lennar (LEN) closed at $170.37, indicating a +1.45% shift from the previous trading day.