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Mixed Quarterly Report Weighs on Lennar Stock
LENLennar(LEN) Schaeffers Investment Research·2024-06-18 14:03

The homebuilder said home deliveries in Q3 could come in below estimatesShares of homebuilder Lennar Corp (NYSE:LEN) are down 2.2% at 153.10,despitethecompanybeatingfiscalsecond−quarterearningsand revenueestimates.Lennarreportedyear−over−yearincreasesinhomedeliveriesandneworders,butexpectstheformertofallbelowanalysts′expectationsinthethirdquarter.LENiscontinuingtodistanceitselffromitsMarch28,recordhighof153.10, despite the company beating fiscal second-quarter earnings and revenue estimates. Lennar reported year-over-year increases in home deliveries and new orders, but expects the former to fall below analysts' expectations in the third quarter.LEN is continuing to distance itself from its March 28, record high of 172.59. The security still has support in place at its 160 ...