Lennar Corporation: Rating Downgrade As Upside Looks Priced In Already [Seeking Alpha]
Lennar Corporation Class A (LEN)
Last lennar corporation class a earnings: 3/19 06:00 am
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US:NYSE Investor Relations:
investors.lennar.com
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Source: Seeking Alpha
The company's 1Q24 results showed strong performance and reinforced the belief in future momentum. The potential spin-off of land positions and asset-light strategy could generate higher cash flows for debt paydowns and share repurchases. Summary Following my coverage of Lennar Corporation ( NYSE: LEN ), which I upgraded to a buy rating as I turned positive on the business's near-term prospects due to its strong order growth, this post is to provide an update on my thoughts on the business and stock. The stock did just as expected, rising above my previous price target of $158. Fundamentals and business outlook tracked well against my expectations too. However, with the stock trading at $172 today, I am downgrading my rating from buy to hold as I believe the upside is priced in already. Investment thesis LEN report the strength that I was expecting previously, where 1Q24 saw closings growth of 23% and order growth of 29%, which despite a decline in ASP of 8%, gross margin e
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News
- LENNAR NOW SELLING LONGBAY TOWNHOMES, A NEW COMMUNITY OFFERING LOW-MAINTENANCE, NATURE-ORIENTED LIVING AT ATTRACTIVE PRICES [Yahoo! Finance]Yahoo! Finance
- Lennar (LEN) Laps the Stock Market: Here's Why [Yahoo! Finance]Yahoo! Finance
- Eric Feder joins Opendoor Board of Directors [Yahoo! Finance]Yahoo! Finance
- LENNAR ANNOUNCES OPENING OF THE CARRIAGE HOME COLLECTION AT IBIS LANDING, OFFERING AFFORDABLE LAIDBACK GOLF AND COUNTRY CLUB-STYLE LIVING IN LEHIGH ACRES [Yahoo! Finance]Yahoo! Finance
- LENNAR ANNOUNCES PLANS FOR STONERIVER MASTER-PLANNED COMMUNITY, PACKED WITH HOME OPTIONS AND LIFESTYLE AMENITIES FOR RALEIGH HOME SHOPPERS [Yahoo! Finance]Yahoo! Finance
LEN
Earnings
- 3/13/24 - Beat
LEN
Sec Filings
- 4/25/24 - Form 10-K/A
- 4/11/24 - Form 4
- 4/11/24 - Form 4
- LEN's page on the SEC website