|Bid||57.52 x 100|
|Ask||57.62 x 100|
|Day's range||57.51 - 57.95|
|52-week range||34.41 - 58.32|
|PE ratio (TTM)||17.03|
|Forward dividend & yield||0.16 (0.29%)|
|1y target est||N/A|
Homebuilders were among the best performing stocks in 2017. Can they keep it up in 2018? Credit Suisse's Susan Maklari and team think so. Maklari expects single-family housing starts to climb about 11% ...
U.S. homebuilding fell more than expected in December, recording its biggest drop in just over a year, likely as unseasonably cold weather at the end of the month disrupted the construction of single-family housing units. The steep drop in groundbreaking activity probably will be temporary against the backdrop of a tightening labor market. Other data on Thursday showed the number of Americans filing for unemployment benefits dropped to a 45-year low last week.
Stocks hit record highs amid generally strong earnings from Delta, JPMorgan and Lennar, even as Intel and Facebook woes hit those giants. Bitcoin retreated.
KB Home topped quarterly forecasts late Wednesday after Lennar reported a surprise earnings drop due to a change in the timing of a transaction to take advantage of Republican tax legislation.
Wall Street's major stock indexes pared earlier losses on Wednesday while U.S. Treasury yields fell from their peak as investor skepticism grew about a report that China would slow purchases of U.S. government ...
Major stock indexes were spooked in the early going Wednesday on news China thinks U.S. debt is less attractive, but indexes recovered off session lows.
Investors have been concerned that caps on deduction of interest payment on mortgage debt and state and local tax could make housing more expensive and hurt demand in luxury home markets such as California. Lennar, whose California homes can cost upwards of $1 million, said any impact from the caps was likely to be offset this year by continuing economic and job growth. "We have carefully studied the specific impacts of the tax law on our typical buyer profile in each of our markets, and we found out that the effect is generally positive at their income levels," Lennar CEO Stuart Miller said.
Lennar Corporation (LEN) reported fourth quarter 2017 earnings of $1.29 per share, missing the Zacks Consensus Estimate of $1.50.
Lennar Corp. shares slid 4.8% in premarket trade Wednesday, after the company reported weaker-than-expected profit for its fiscal fourth quarter. The homebuilder said it had net income of $309.6 million, ...
Lennar Corp. (LEN) on Wednesday reported fiscal fourth-quarter net income of $309.6 million. The Miami-based company said it had profit of $1.29 per share. The results did not meet Wall Street expectations. ...
Although higher construction costs are likely to impact Lennar's (LEN) gross margin in Q4, higher demand for homes and its effort to improve its operating leverage are likely to offset the negatives.
Higher input costs and less sales conversion due to weather-related issues are likely to dampen Lennar's (LEN) Q4 gross margin.
Homebuilders Lennar (LEN) and KB Home (KBH) will report earnings soon, and Wedbush analyst Jay McCanless has a preview of the reports out Wednesday, although he doesn't think either stock is a buy. For Lennar, he expects that order growth exceeded expectations, because he believes that the headwinds associated with the hurricanes in Texas and Florida subsided more rapidly in the quarter than some expect. For KB Home, McCanless is expecting a beat, but is concerned about order growth.
Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the Eastern District of Virginia on behalf of holders of CalAtlantic Group, Inc. (“CalAtlantic”) (NYSE:CAA) common stock in connection with the proposed acquisition of CalAtlantic by Lennar Corporation and its affiliate (“Lennar”) announced on October 30, 2017 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against CalAtlantic, its Board of Directors (the “Board”), and Lennar, is captioned The Vladimir Gusinsky Rev. Trust v. CalAtlantic Group, Inc., Case No. 1:17-cv-01395 (E.D. Va.).
It was another positive month for housing starts due to reconstruction efforts in hurricane-battered areas. In November, housing starts rose 3.3%.
WASHINGTON, Dec (Shanghai: 600875.SS - news) 19 (Reuters) - U.S. single-family homebuilding and permits surged to more than 10-year highs in November, in a hopeful sign for a housing market that has been hobbled by supply constraints. The bullish report from the Commerce Department on Tuesday followed a survey on Monday that showed confidence among homebuilders soaring to near an 18-1/2-year high in December. The Commerce Department said single-family homebuilding, which accounts for the largest share of the housing market, jumped 5.3 percent to a rate of 930,000 units.
Shares of home builders have run ahead of a strong stock market, but a housing shortage could mean there’s more to come.
Lennar's (LEN) diverse revenue mix, above-average order growth and improving SG&A leverage are expected to improve profit. However, rising land and labor costs pose a threat to the company's margins.