|Bid||50.35 x 1300|
|Ask||50.37 x 900|
|Day's Range||49.57 - 50.72|
|52 Week Range||48.71 - 72.17|
|PE Ratio (TTM)||13.37|
|Earnings Date||Oct 3, 2018|
|Forward Dividend & Yield||0.16 (0.30%)|
|1y Target Est||70.44|
MIAMI, Sept. 20, 2018 /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 third quarter ended August 31, 2018 before the market opens on October 3, 2018. Additionally, the Company will hold a conference call on October 3, 2018 at 11:00 a.m. Eastern Time. The call will be broadcast live on the Internet and can be accessed through Lennar's website at www.lennar.com. If you are unable to participate during the live webcast, the call will be archived at www.lennar.com for 90 days. Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations.
The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. The current level displays a neutral indicator with a strengthening bias over the past 1-month.
The housing sector will be in focus on Tuesday as investors continue to keep a close eye on trade developments as stocks were under pressure on Monday.
Four homebuilders have bought future home lots in south Placer County and Rancho Cordova, for a combined $23 million.
The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Index (PMI) data, output in the Consumer Goods sector is rising.
Lennar has revealed plans for Veleiros, which will be developed on the former Crystal Lake Golf Club in Deerfield Beach. The Miami-based homebuilder (NYSE: LEN) said it would be the first new single-family home community in Deerfield Beach in about 25 years. In March, Lennar acquired the 109-acre property at 3810 Crystal Lake Drive for $12.83 million.
The land is next to a 75-acre tract owned by the Harris County Flood Control District and close to a tributary of Little Cypress Creek.
About five months after debuting the Neumann Oaks townhome community in Garden Oaks, Miami-based homebuilder Lennar Corp. announced another 18-townhome enclave that will share a back boundary with the original two-acre development. Lennar will start building homes in Chapel Heights by the fourth quarter of 2018, said Michael Johnson, vice president of Houston-based Friendswood Development Co., a division of Lennar. Lennar represented itself in the land sale that closed in 2017.
The acquisition brings Opendoor’s substantial capital and other resources to the fledgling, home-buying startup, which could further upend the way Americans buy and sell homes.
Lennar Corp.'s credit rating was upgraded Monday out of "junk" territory, following the completion of the deal in which the homebuilder acquired CalAtlantic Group Inc. in a $9.3 billion deal. The outlook was revised to stable. Fitch raised its rating to BBB-, the lowest investment grade rating, from BB+. The deal, which closed in February, and included $3.6 billion in assumed debt, created the largest homebuilder in terms of revenue and lifted the company into a top-3 position in 27 of the 30 largest metropolitan markets. "Fitch views this as an advantage as scale in local metro markets is becoming increasingly more important as homebuilders look for efficiencies in purchasing amid escalating costs," Fitch said. The stock has lost 20% year to date, while the iShares U.S. Home Construction ETF has lost 14% and the S&P 500 has gained 7.7%.
Officials will also consider apartments in Little Havana, a Brickell condominium and a new auto dealership.
The U.S. economy looks like it’s getting stronger. Just this week, the GDP for last quarter was adjusted upward to 4.2% for the quarter. That almost doubled GDP in Q1.
The stock has climbed 140% over the last 12 months and is now trading with a price-earnings ratio of 6.86 and a price-book ratio of 18.46. Jim Simons (Trades, Portfolio)' Renaissance Technologies is the largest guru shareholder of the company with 0.63% of outstanding shares, followed by Greenblatt with 0.04%. The stock has declined 4% over the last 12 months and is now trading with a price-earnings ratio of 18.40 and a price-book ratio of 4.56.
The Newark waterfront has traditionally been an industrial hub dotted with railroad tracks and salt ponds, but it may be soon be transformed into a walkable, dense neighborhood. Integral Communities has proposed 193 detached homes on 17 acres at the western edge of the city, while Trumark Homes plans to build 138 single-family and townhomes at 8610 Enterprise Dr. Earlier this week, the Planning Commission recommended both projects for approval next month. “People are getting priced off the Peninsula, but they can drive 20 minutes off the Dumbarton Bridge and live in an up-and-coming community,” said Garrett Hinds, director of architecture at Trumark.
Even though some macroeconomic numbers and some homebuilders' earnings reports show some housing market fatigue, Lennar's management still sees a multiyear growth opportunity.
We have shortlisted three stocks from the top-notch Homebuilding industry, which are likely to benefit investors on the back of a solid U.S. economy and higher demand.
Though existing home sales in the United States fell for four straight months, the luxury home segment looks better-positioned and puts these stocks and ETFs in focus.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
It’s day 3,453 of the S&P 500 (SPX) bull market, and depending on how you measure it, that’s the longest on record. Hitting a record by definition means that this bull market is aging. Although legal developments for two former Trump advisers appeared to pressure U.S. stock futures slightly Wednesday morning, it has been relatively calm on the geopolitical front recently.