ITMS
7年前
This Leading Home-Builder Is Falling, Here's The Trade $LEN
This morning, most of the leading home-builder stocks are coming under selling pressure. Home-builder stocks such as Lennar Corp (NYSE:LEN), Toll Brothers Inc (NYSE:TOL), DR Horton Inc (NYSE:DHI) and other are all trading lower by more than 3.0 percent today. Many investors are blaming the recent Redfin Corp (NASDAQ:RDFN) guidance for the decline in the home-building sector, but the industry group has been slumping since the start of 2018.
Lennar Corp (NYSE:LEN) is one particular home-builder that has caught my eye. This stock topped out on January 22, 2018 at $72.17 a share. Since that high pivot, the stock has steadily declined lower throughout the year. Today, LEN stock is trading down by $2.43 to $50.94 a share. Traders should note that the stock has been trading in a sideways range since mid-May. This pattern tells me that there is one more move lower to go before the stock finds a defined bottom. Traders and investors must now watch the $45.00 area as the next major support level for the home-builder. This is where the stock broke out in February 2017. Very often, prior break-out levels will serve as major support when retested.
Nicholas Santiago
InTheMoneyStocks
PennyP1cker
7年前
In Las Vegas, a market dominated by public builders—the eight biggest builders there in 2016 were publics who controlled 75.4% of the market share, according to BUILDER’s Local Leaders data—American West Homes founder Larry Canarelli says the land competition is fierce. For those in the area who aren’t a public or large private builder, like American West, there aren’t many lots to go around. “The little guy, he is caught by wherever he can find between a 2.5- and 5-acre piece,” Canarelli says. “If the little guy finds a piece in North Las Vegas that he can put 12 houses on and he can buy it cheap, he’s gotta buy it. Because that’s all he can get.
“It’s not like it used to be where there would be 20-acre pieces that you could put 100 homesites on and maybe put a little community park in,” he adds. “Those pieces don’t exist now.”
As most high school juniors can tell you, when inventory is low and demand is high, prices rise. The June HMI survey also found that 81% of builders said the price of developed A lots was somewhat to substantially higher than it was the year prior. In comparison, 74% said the same was true with respect to B lots, and for C lots it was 65%.
Shrinking lot supply and rising land prices make business complicated for any builder. But for those at companies without large development teams or sizable capital backings, finding and buying land is even more of a reason to lose sleep. (Builder Magazine Feb 5, 2018)
PennyP1cker
7年前
LEN is in the hottest markets which I think is key to a successful 2018. If you look at KBH or TOL you will see that they are on the fringes of some of the hottest markets but, unless I am missing something, they are not in the heart of the very hottest real estate markets like LEN and other competitors. This bodes well for LEN. As long as LEN can continue to divine which markets will be the hottest and avoid getting trapped in downside markets it should be a great year. What makes a hot market? High demand mostly but low supply can be a contributing factor. Here in California, we are experiencing very tight market conditions. There are very few existing homes on the market and many buyers ready to pounce on anything that moves. Anyone can put their house up for sale for any price within reason and it will sell like a hot cake in December. If LEN cannot capitalize on these market conditions I will be astounded.
For those worried about interest rates, I disagree that higher rates will be a problem. LEN operates like a bank and makes money on higher interest rates as long as they don't rise too high too quickly. Lawrence Yun, prominent economist, recently stated on NBR that 6% would be a possible tipping point where drag would be introduced.
PennyP1cker
7年前
This report is typical for markets all around the country:
"The volume of housing sales is holding steady in the Cincinnati region as average and median home sales prices continue to rise and set new records.
The 2017 year-end average home price climbed to $202,169 compared to $190,908 in 2016, a 5.9 percent increase, and the December average sale price climbed to $198,356 compared to $190,625 a year earlier, a 4.06 percent increase, according to the Cincinnati Area Board of Realtors.
At the same time, the inventory of homes for sale, as of Dec. 31, continued its year-over-year declining trend to 4,360 from 5,049 a year ago, down 13.65 percent."
http://www.journal-news.com/news/this-area-housing-marker-hasn-been-this-strong-awhile-here-the-data-that-prove/Xb2fDYWOcQSH6S2CiEDW1H/
Feb 8, 2018
Journal-News
Lower inventories, high demand and higher prices is going on in several regions. Hopefully, LEN can capitalize on the positive market and have a great 2018.
Enterprising Investor
10年前
Lennar to Houston: We have a problem (1/15/15)
(Reuters) - Lennar Corp (LEN.N), the second-largest U.S. homebuilder by the number of homes sold, said it expects 2015 margins to be squeezed as falling oil prices hurt demand in Houston, a city heavily dependent on the energy sector.
The warning overshadowed a 50 percent jump in quarterly profit and pushed Lennar's shares down as much as 9 percent.
Shares of rivals D.R. Horton Inc (DHI.N) and PulteGroup Inc (PHM.N) were also hit.
Houston accounted for about 12 percent of Lennar's homebuilding revenue in 2013.
"We're well positioned (in Houston) but we're smart enough to know that as oil moves down, there may be some job loss, primarily more on the higher end, and it could impact pricing," a company executive said on a conference call.
The first oil industry layoffs have already been announced in Houston, with realtors there predicting a decline of up to 12 percent in home sales this year.
Lennar said it expected 2015 gross margin of 24 percent, down from 25.4 percent in 2014.
Florida-based Lennar is not the only one to warn on margins for the current year. Smaller rival KB Home (KBH.N) said it expects higher labor and land costs and sale incentives to hit margins in 2015.
"Lennar as well as the overall industry's pricing power has peaked. We expect flat to somewhat down pricing going forward. This is going to lead to lower margins probably for the next couple of years," Jim Krapfel, an analyst with research firm Morningstar, said.
Lennar has so far been able to raise prices despite a choppy recovery in the U.S. housing market as it mainly caters to buyers looking to upgrade to a bigger home. Such buyers are generally not affected much by volatile interest rates.
The company's gross margin fell for the first time in three years in the fourth quarter ended Nov. 30.
Chief Executive Stuart Miller said he remained optimistic about the housing recovery, citing falling gasoline prices, low interest rates and the Federal Housing Administration's decision to cut premiums.
Lennar earned $1.07 per share in the fourth quarter, trumping the average analyst estimate of 96 cents per share, according to Thomson Reuters I/B/E/S.
Lennar's shares were down 6.3 percent at $42.88 on the New York Stock Exchange.
Up to Wednesday's close, the company's stock had risen about 20 percent in the past 12 months, compared with a 12 percent rise in the Dow Jones Home Construction Index .DJUSHB.
http://www.reuters.com/article/2015/01/15/us-lennar-results-idUSKBN0KO12H20150115
detearing
11年前
Analyst Actions: Lennar Upgraded to Conviction Buy at Goldman, PT Raised $10; Shares Spike 3% Early 02/06 04:26 AM
--------------------------------------------------------------------------------
07:26 AM EST, 02/06/2014 (MT Newswires) -- Home builder Lennar Corporation (LEN:$41.49,00$1.91,004.83%) has been upgraded to a Conviction Buy rating from Neutral by analysts at Goldman Sachs. The firm also raised its price target on the stock to $48 from $38 a share.
"We believe the market is valuing LEN almost exclusively for its core homebuilder business," said Goldman Sachs, "while ascribing little value to its ancillary businesses."
The firm also said it expects expects new home sales growth to reach 20% by Q4 of 2014 from 5% in Q1 2014.
Shares of LEN are up 3.39% to $40.92 in pre-market trading, moving within a 52-week range of $30.90 - $44.40.
Price: 40.92, Change: +1.34, Percent Change: +3.39
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Get more news on:SYMBOLS: LEN NEWS TYPE: Extended Trading, Pre-Market Movers, Analyst Ratings, Ratings: Upgrades and Downgrades, Ratings: Upgrades SECTORS: Consumer Discretionary, Household Durables, Industrials, Construction and Engineering
TheFinalCD
11年前
Lennar Prevails in Defamation and Extortion Case Against Marsch; Jury Awards $1 Billion in Damages
Lennar (NYSE:LEN)
Intraday Stock Chart
Today : Tuesday 3 December 2013
Click Here for more Lennar Charts.
MIAMI, Dec. 3, 2013 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced that a civil jury on Monday awarded Lennar Corporation $1 billion in damages against California developer Nicolas Marsch III and his company, Briarwood Capital LLC, on court findings of defamation and conspiracy to extort money from the Company.
"While collecting the award is doubtful, the true value of the verdict is the validation of our integrity, credibility and transparency, which have always been cornerstones of our foundation," said Lennar's Chief Executive Officer, Stuart Miller. "The jury award represents a complete vindication of Lennar's reputation and good name."
The $1 billion jury award, which includes punitive damages, brings to an end seven years of litigation in which courts in California and Florida vindicated Lennar's positions and rejected Marsch's accusations.
The jury awarded damages following proceedings and findings by the trial court that Marsch was liable for conspiring with convicted felon Barry Minkow to engage in an unlawful scheme to extort money from Lennar. In 2011, Minkow returned to federal prison to serve a five-year term for his role in the same extortion and defamation scheme.
The jury delivered a verdict against Marsch and Briarwood of $802 million in compensatory damages as well as $200 million in punitive damages. Despite receiving repeated notices from the court and Lennar, Marsch declined to appear at Monday's trial and testify before the jury.
"The jury's award sends an unmistakable message that you cannot extort companies and lie for money and expect to get away with it," said Daniel Petrocelli of O'Melveny & Myers, the lead trial counsel for Lennar.
About Lennar
Lennar Corporation, founded in 1954, is one of the nation's largest builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of the Company's homes and others. Lennar's Rialto Investments segment is a top-tier, vertically integrated asset management platform focused on investing throughout the commercial real estate capital structure. Previous press releases and further information about the Company may be obtained at the "Investor Relations" section of the Company's website, www.lennar.com.
Note Regarding Forward-Looking Statements
Some of the statements in this press release are "forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995, including statements regarding the jury award. These forward-looking statements are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements, including the risk that we may not be able to collect the full amount or any of the jury award. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
SOURCE Lennar Corporation
Copyright 2013 PR Newswire
eastunder
12年前
Lennar Corporation's Fourth Quarter Earnings Conference Call To Be Broadcast Live On The Internet
Friday , December 21, 2012 10:09ET
MIAMI, Dec. 21, 2012 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that the Company will release earnings for the fourth quarter and year ended November 30, 2012 before the market opens on January 15, 2013. Additionally, the Company will hold a conference call on January 15, 2013 at 11:00 a.m. Eastern Time.
The call will be broadcast live on the Internet and can be accessed through Lennar's website at www.lennar.com. If you are unable to participate during the live webcast, the call will be archived at www.lennar.com for 90 days.
In order to listen to the live event, a participant must have a multimedia computer with speakers and Windows Media Player. To download the software prior to the event, please visit www.lennar.com, click the conference call link on the home page and follow the pre-event instructions.
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title insurance and closing services for both buyers of the Company's homes and others. Lennar's Rialto Investments segment is focused on distressed real estate asset investments, asset management and workout strategies. Previous press releases and further information about the Company may be obtained at the "Investor Relations" section of the Company's website, www.lennar.com.
SOURCE Lennar Corporation
StockConsultant_com
12年前
LEN breakout watch above 39.05
Strong on a weak market day almost ready to breakout
BREAKOUT WATCH for possible breakout above 39.05, no resistance in area just above.
Type: True breakout from triple resistance.
Target: 42.23, 8.3% Stop: 37.77, Loss: 3.2%, Profit/Loss ratio: 2.6 : 1 - Good
CURRENT PRICE 39.01, at resistance, 38.39 ± 0.65, type triple, strength 9
RESISTANCE ABOVE None.
source: http://www.stockconsultant.com
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