UPDATE - Williams Financial Group Initiates Coverage on Lennar (LEN) with a Hold; Positioned for a Turnaround
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Price: $86.81 +1.63%
Rating Summary:
13 Buy, 14 Hold, 9 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
13 Buy, 14 Hold, 9 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Williams Financial Group initiates coverage on Lennar (NYSE: LEN) with a Hold. PT $24.00.
Analyst, David N. Williams, said, "The company’s heavy debt load should not impede growth potential with its high cash balance and ability to raise debt to push maturities out...Gross margin performance has been strong with additional benefits expected from 5-10% increase in new, higher margin communities expected to come on-line this year...Prior cost cutting measures have driven SG&A to the lowest level in 5 years in 4Q11, with continued benefits expected from increased leverage on higher sales."
Williams places FY12 EPS of $0.76 and FY13 $1.27.
Analyst, David N. Williams, said, "The company’s heavy debt load should not impede growth potential with its high cash balance and ability to raise debt to push maturities out...Gross margin performance has been strong with additional benefits expected from 5-10% increase in new, higher margin communities expected to come on-line this year...Prior cost cutting measures have driven SG&A to the lowest level in 5 years in 4Q11, with continued benefits expected from increased leverage on higher sales."
Williams places FY12 EPS of $0.76 and FY13 $1.27.
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