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Tag: LEN Stock

  • Missed Q4 Earnings: Lennar Corporation (LEN) stock Tumbles Down After Hours

    Lennar Corporation (LEN) stock fell by 7.31% after hours, following the announcement of Q4 earnings on Wednesday. The company missed both its ESP and revenue consensus estimates while showing YOY growth.

    During regular trading, the stock was up by a slight 1.75% at the closing price of $113.09. Following the news, LEN plunged down to $104.82 at an after-hours’ volume of 518.91K shares.

    The homebuilder Lennar Corporation (LEN) was founded in 1954. Currently, its market capitalization is $33.62B with 271.85 million outstanding shares.

    LEN’s Q4 and Fiscal 2021 Earnings

    On December 15, the company announced its fourth quarter and full fiscal year 2021, financial results. According to the results, the net earnings in the quarter were $1.2 billion, with a 35% year-over-year increase. Subsequently, the net earnings per diluted shares were $3.91, showing an increase of 39%. But the EPS missed the estimate of $4.15 per share due to losses on technology investments.

    Moreover, the revenue was $8.4 billion in the fourth quarter of 2021, showing an increase of 24% year-over-year. While it did improve YOY, the revenue still missed the forecast of $8.506 billion.

    Furthermore, in Q4, deliveries increased 11%, new orders 2% and back log 26% to 17,819 homes, 15,539 and 23,771 homes, respectively.

    Future Guidance

    In addition to the Q4 financial results, the company also provided guidance for its first quarter and full fiscal year 2022. LEN expects new orders between 14,800 and 15,100 in the Q1 FY2022.

    Further, the company also expects around 12,500 delivers in Q1 and 67,000 in the full fiscal 2022.

    Moreover, the expected average sale price is $460,000 approx. for the Q1 and full fiscal year 2022.

    New Community Commitment

    On November 18, the company announced its commitment to a new community built with Veev’s construction technology. Further, the commitment was done as a follow-on to the company’s investment in Veev’s $200-million financing rounds.

    Veev is a building technology company that manufactures truly digital homes from the start. It does so by integrating technology throughout the home during the build, along with complete wall systems.  LEN is working together with Veev for integrating technology solutions across the home building industry.

    Further, the expected groundbreaking of the new Northern California community is expected in the coming months. The community comprises 102 attached homes built on Veev’s technology. In addition, this will be the largest community until now, to have been built and based on Veev’s proprietary design.

  • 8 Best Stocks Look For in Residential Construction Sector

    Flipping is defined as the act of purchasing and selling a house within the same 12-month period. According to the report, the number of flips during the quarter dropped to 5.1% of all home sales, down from 6.7% during the second quarter of the year and from 5.5% during the third quarter of the year.

    Before the pandemic, home flipping profits were declining due to shrinking home price gains. There was a surge in home sales in May due to the pent-up demand from early spring when home sales nearly stalled cold. More people wanted larger homes in suburbs for school and work due to the stay-at-home culture created by the pandemic.

    As a result of record-low mortgage rates, many more people are coming into the market and have augmented the competition between the flippers. More than half (57%) of flippers use cash-only, but they cannot always outbid those with financing.

    D.R. Horton Inc. (NYSE:DHI) shares were trading up 3.22% at $73.47 at the time of writing on Thursday.

    D.R. Horton Inc. (NYSE:DHI) share price went from a low point around $25.51 to briefly over $81.21 in past 52 weeks, though shares have since pulled back to $73.47. DHI market cap has remained high, hitting $26.79B at the time of writing, giving it price-to-sales ratio of more than 1.

    If we look at the recent analyst rating DHI, UBS initiated coverage on DHI shares with a Buy rating and a $88.35 price target, which implies room for 14.88% upside momentum this year.

    KB Home (KBH) last closed at $35.60, in a 52-week range of $9.82 to $42.20. KB Home recently declared that Jeff Ferguson has been named as its Dallas/Fort Worth division president. Analysts have a consensus price target of $43.63.

    Lennar Corporation (LEN) stock soar by 7.62% to $79.95 after releasing results for its fourth quarter and fiscal year ended November 30, 2020. The most recent rating by UBS, on December 09, 2020, is at a Neutral.

    Meritage Homes Corporation (NYSE:MTH) Shares headed rising, higher as much as 3.93% following the announcement from the company that it has donated $750,000 in 2020 to non-profits across the country. The most recent rating by JP Morgan, on October 08, 2020, is at a Neutral.

    PulteGroup Inc. (NYSE:PHM) rose 5.36% after gaining more than $2.28 on Thursday. The company recently revealed Bob O’Shaughnessy, Executive Vice President and Chief Financial Officer, as the recipient of the 2020 CFO of the Year Award presented by CFO Roundtable of Atlanta.

    Taylor Morrison Home Corporation (TMHC) last closed at $26.81, in a 52-week range of $6.39 to $28.47. The company on December 8,2020 declared that its Board of Directors has authorized a renewal of its stock repurchase program until December 31, 2021. Analysts have a consensus price target of $31.88.

    Toll Brothers Inc. (TOL) stock soar by 1.74% to $46.12. The firm recently reported the closing of $160 million in construction financing through a newly formed joint venture between its Toll Brothers Apartment Living® rental subsidiary and GSLM Capital Partners. The most recent rating by UBS, on December 09, 2020, is at a Buy.

    TRI Pointe Group Inc. (NYSE:TPH) Shares headed rising, higher as much as 4.51%. The most recent rating by B. Riley Securities, on October 23, 2020, is at a Buy.

  • Early Morning Vibes: 4 Best Stocks To Buy Today

    Early Morning Vibes: 4 Best Stocks To Buy Today

    On December 15, the American stock indices closed in positive territory. The S&P 500 index rose 1.29% to 3695 points, the Dow Jones rose 1.13%, the NASDAQ rose 1.25%. The main positive driver was the optimistic expectations regarding the new package of fiscal support. Increased risk appetite allowed all 11 sectors to close in the green zone. The tech sector became one of the leaders of growth, adding 1.61%, the locomotive was the shares of Apple.
     

    Corporate Update
     

    According to media reports, Apple (AAPL: + 5%) plans to increase iPhone production by 30% YoY amid strong demand for the new iPhone 12 Pro models.

    Eli Lilly (LLY: + 6%) released strong forecasts for 2021 and announced a deal to buy Prevail Therapeutics (PRVL: + 82%) for $ 1 billion.
     

    China’s Baidu Corporation (BIDU: + 13.8%) is considering entering the electric vehicle market and is in talks with automakers.
     

    Today, world stock exchanges are showing mostly positive dynamics. Two potential drivers of growth are in the spotlight: progress in negotiations between US lawmakers on a new package of economic support and the outcome of the Fed meeting. Congressmen continue to actively discuss the bill on measures to help the economy. At the moment, it is most likely that a package of about $ 750 billion will be accepted. This option excludes the most controversial aspects that have hindered a compromise over the past six months. Lawmakers plan to vote this week, while also approving other spending items, including an extension of government funding.
     

    The Fed is expected to repeat the rhetoric of previous meetings, active actions of the regulator are unlikely, as well as changes in long-term forecasts for the rate. Jerome Powell will re-emphasize the importance of fiscal policy. Most likely, the parameters of the program for purchasing government bonds will not be changed, but this program itself can be extended, which will support optimism in the markets.

    Today Top Movers


    Niu Technologies (NIU) is up 0.79% at $29.41 in premarket trading on Wednesday. In spite of no news on the stock directly, a broader piece of news today has helped several stocks.
     

    Hexo Corp (HEXO) share price increased 2.75% at $1.12 in today’s early morning session following the release of its first quarter fiscal 2021 financial results.
     

    Marathon Patent Group Inc (MARA) is going up 5.80% in premarket session on Wednesday. Despite few business articles or no business news lately, this stock has drastically climbed in value.
     

    Tilray Inc (TLRY) share price gaining 20.97% at $9.52 in premarket trading today following Its merger news with Aphria.

    Top Upgrades & Downgrades

    Credit Suisse turned bullish on Galera Therapeutics Inc. (GRTX), upgrading the stock to “Outperform” and assigning a $15.0 price target, representing potential upside of 18.48%.
     

    Atlantica Sustainable Infrastructure plc (AY) has won the favor of Seaport Global’s equity research team. The firm upgraded the shares from Neutral to Buy and moved their price target to $38.0.
     

    Wells Fargo & Company (WFC) received an upgrade from analysts at Keefe, Bruyette & Woods, who also set their one-year price target on the stock to $36.0. They changed their rating on WFC to Outperform from Market Perform in a recently issued research note.
     

    Earlier Wednesday RBC Capital reduced its rating on Pfizer Inc. (PFE) stock to Sector Perform from Outperform and assigned the price target to $42.0.
     

    KeyBanc analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Aptiv PLC (APTV) has been changed to Sector Weight from Overweight.

    Latest Insider Activity


    Chewy Inc. (CHWY) Director STAR JAMES A announced the sale of shares taking place on Dec 11 at $85.06 for some 30,000 shares. The total came to more than $2.55 million.
     

    CarGurus Inc. (CARG) General Counsel and Secretary Patton Kathleen Bender sold on Dec 14 a total 103,142 shares at $30.00 on average. The insider’s sale generated proceeds of almost $0.17 million.
     

    Elys Game Technology Corp. (ELYS) Vice President of Technology Pasquini Luca declared the purchase of shares taking place on Dec 14 at $3.15 for some 1,000 shares. The transaction amount was around $3150.0.
     

    Retractable Technologies Inc. (RVP) President and CEO SHAW THOMAS J bought on Dec 14 a total 14,076,660 shares at $12.85 on average. The purchase cost the insider an estimated $3,007.

    Earnings To Watch


    Top US earnings releases scheduled for today include Lennar Corporation (NYSE:LEN). It will announce its Nov 2020 financial results. The company is expected to report earnings of $2.37 per share from revenues of $6.65B in the three-month period.
     

    Analysts expect Qutoutiao Inc. (NASDAQ:QTT) to report a net income (adjusted) of -$0.09 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2020 is predicted to come in at $174.89M.
     

    Herman Miller Inc. (MLHR), due to announce earnings after the market closes today, is expected to report earnings of $0.56 per share from revenues of $585.5M recently concluded three-month period.