Lennar Corp. (LEN) Declares $0.04 Quarterly Dividend; 0.3% Yield

Lennar (LEN) PT Raised to $59 at Citi

October 4, 2017 9:02 AM EDT

Citi raised its price target on Lennar (NYSE: LEN) to $59.00 (from $57.00) while maintaining a Neutral rating.

... More

MKM Partners Upgrades Lennar (LEN) to Buy

October 4, 2017 5:42 AM EDT

MKM Partners upgraded Lennar (NYSE: LEN) from Neutral to Buy with a price target of $64.00.

Analyst Megan McGrath cited:

1) we believe Lennar is doing well stabilizing gross margins in spite of cost input headwinds while also finding ways to better... More

Key lobby drops demand for U.S. mortgage interest tax deduction

October 3, 2017 5:30 PM EDT

By Ginger Gibson

WASHINGTON (Reuters) - The trade group representing U.S. homebuilders has abandoned its demand that a new version of the tax code include a mortgage interest deduction, signaling on Tuesday that it would consider alternatives to boost home ownership.

The National Association of Home Builders had raised concerns about the Republican plan to overhaul the tax code because it would have effectively done away with the mortgage interest deduction for millions of taxpayers. That tax deduction is viewed as a critical incentive to encourage home... More

UPDATE: Homebuilding on Watch with Lennar Corp. (LEN) Call Ongoing

October 3, 2017 11:21 AM EDT

(Updated - October 3, 2017 11:22 AM EDT)

Homebuilding were in focus Tuesday morning during Lennar Corp.'s (NYSE: LEN) Q3 conference call.

Related stocks include:

D.R. Horton, Inc. (NYSE: DHI)
Pulte Group (NYSE:... More

Lennar upbeat on housing market after storms, shares up

October 3, 2017 8:53 AM EDT

By Arunima Banerjee

(Reuters) - Lennar Corp (NYSE: LEN) trumped estimates for quarterly profit and revenue on Tuesday as both home sales and prices charged by the United States' second largest homebuilder increased, pointing to solid underlying demand in the U.S. housing market.

Despite being affected by the recent hurricanes, the company confirmed that orders and home deliveries both rose in the quarter ended Aug. 31.

After the short-term impact from the storms, Chief Executive Stuart Miller said he expected to see increased demand for new homes.

Lennar's shares,... More

Major indexes hit record highs second day; autos, airlines jump

October 3, 2017 7:41 AM EDT

By Caroline Valetkevitch

NEW YORK (Reuters) - The three major U.S. stock indexes and the Russell 2000 posted record high closes for the second straight day on Tuesday, helped by gains in airlines and as carmakers rose after strong September vehicle sales.

Major automakers posted higher U.S. new vehicle sales in September as consumers in hurricane-hit parts of the country rushed to replace flood-damaged cars.

General Motors' (NYSE: GM) shares rose 3.1 percent and hit a record intraday high, while Ford's (NYSE: F) stock was up 2.1... More

Lennar Corp. (LEN) Tops Q3 EPS by 6c

October 3, 2017 6:02 AM EDT

Lennar Corp. (NYSE: LEN) reported Q3 EPS of $1.06, $0.06 better than the analyst estimate of $1.00. Revenue for the quarter came in at $3.26 billion versus the consensus estimate of $3.26 billion.

Net earnings of $249.2 million, or $1.06 per diluted share, compared to net earnings of $235.8 million, or $1.01 per diluted shareDeliveries of 7,598 homes up 12%New orders of 7,610 homes up 8%; new orders dollar value of $2.9 billion up 14%Backlog of 10,212 homes up 10%; backlog dollar value of $4.1 billion up 18%Revenues of $3.3 billion up 15%Lennar Homebuilding operating earnings of $386.3 million, compared to $344.9 million up... More