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Home builder Lennar to report earnings on Tuesday

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Yahoo Finance's Rachelle Akuffo discusses Lennar as a stock to watch.

Video Transcript

RACHELLE AKUFFO: Well, US stock and bond markets will be closed Monday for Juneteenth. But the stock I'm watching for Tuesday is Lennar. Now the home construction giant reports before the bell and will be one to watch, especially considering the cooling housing market in light of rising interest rates.

Now we already saw that Home Depot and Lowe's fell to 52-week lows Thursday. And confidence in the market for new single family homes fell to the lowest level since June of 2020. That's according to the National Association of Home Builders. But of course, Lennar has actually topped earnings per share estimates for the last two years running. It also had a revenue beat 75% of the time in the last two years as well.