Homebuilding Stocks Higher as Lennar's Q4 Results Bode Well (XHB)
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Price: $42.47 --0%
EPS Growth %: +225.0%
Financial Fact:
Other income (expense), net: 1.33M
Today's EPS Names:
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EPS Growth %: +225.0%
Financial Fact:
Other income (expense), net: 1.33M
Today's EPS Names:
DSX, REDF, REX, More
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Stocks in the Homebuilding sector are outperforming the broader stock market sharply Wednesday afternoon following better-than-expected fourth-quarter results from Lennar (NYSE: LEN) this morning. The SPDR S&P Homebuilders ETF (NYSE: XHB) is up more than 1.5 percent at last check, compared to a 0.38 percent and 0.24 percent move lower in the Dow and S&P 500, respectively.
While Lennar's quarterly EPS missed the Street by a penny, sales were very strong at $952.7 million. New orders of homes jumped 20 percent from the same period last year to 3,027. The company's report also suggested the housing market appears to be stabilizing heading into 2012 amid lower interest rates and prices.
Lennar shares last traded at $22.08, up 6.5 percent from Tuesday's close.
Elsewhere in the Homebuilding sector:
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While Lennar's quarterly EPS missed the Street by a penny, sales were very strong at $952.7 million. New orders of homes jumped 20 percent from the same period last year to 3,027. The company's report also suggested the housing market appears to be stabilizing heading into 2012 amid lower interest rates and prices.
Lennar shares last traded at $22.08, up 6.5 percent from Tuesday's close.
Elsewhere in the Homebuilding sector:
- KB Home (NYSE: KBH) shares up 15.8 percent
- Toll Bros. (NYSE: TOL) up 2.1 percent
- DR Horton (NYSE: DHI) up 3.9 percent
- Ryland (NYSE: RYL) up 4.3 percent
- Hovnanian (NYSE: HOV) up 10.3 percent
- Beazer (NYSE: BZH) up 5.3 percent
- M/I Homes (NYSE: MHO) up 7.4 percent
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