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Lennar Corp Class A LEN

Morningstar Rating
$150.19 −2.30 (1.51%)
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Company Report

Lennar Earnings: 10% Home Delivery Growth Target in 2024 Unchanged; Spinoff Strategy Refreshed

Lennar reported solid fiscal first-quarter (ended Feb. 29) results that featured a strong year-over-year rebound in new orders, home sales gross margin expansion (up 60 basis points year over year to 21.8%), and EPS of $2.57, which was well above the $2.21 FactSet consensus estimate. Nevertheless, Lennar's stock price slipped almost 8% on March 14, likely due to first-quarter revenue falling 1% shy of the consensus estimate as elevated sales incentives continue to put downward pressure on net selling prices.

Price vs Fair Value

LEN is trading at a 6% discount.
Price
$150.19
Fair Value
$421.00
Uncertainty
High
1-Star Price
$555.00
5-Star Price
$14.00
Economic Moat
Cpdm
Capital Allocation
Lbdwjmzt

Bulls Say, Bears Say

Bulls

The US housing market is undersupplied. This supply/demand imbalance will take years to address and should support pricing power for homebuilders.

Bears

Higher interest rates, lofty home prices, and economic uncertainty could stifle demand for new homes.

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News

Trading Information

Previous Close Price
$152.49
Day Range
$149.14153.76
52-Week Range
$102.90172.59
Bid/Ask
$150.00 / $152.65
Market Cap
$41.80 Bil
Volume/Avg
2.5 Mil / 2.1 Mil

Key Statistics

Price/Earnings (Normalized)
10.45
Price/Sales
1.22
Dividend Yield (Trailing)
1.07%
Dividend Yield (Forward)
1.31%
Total Yield
4.76%

Company Profile

Lennar is one of the largest public homebuilders in the United States. The company’s homebuilding operations target first-time, move-up, and active adult homebuyers mainly under the Lennar brand name. Lennar’s financial-services segment provides mortgage financing and related services to its homebuyers. Miami-based Lennar is also involved in multifamily and single-family for rent construction and has invested in numerous housing-related technology startups.
Sector
Consumer Cyclical
Industry
Residential Construction
Stock Style Box
Mid Value
Total Number of Employees
12,284

Competitors

Valuation

Metric
LEN
DHI
INVH
Price/Earnings (Normalized)
10.4510.5158.85
Price/Book Value
1.592.102.01
Price/Sales
1.221.388.42
Price/Cash Flow
8.929.9018.70
Price/Earnings
LEN
DHI
INVH

Financial Strength

Metric
LEN
DHI
INVH
Quick Ratio
5.481.303.80
Current Ratio
19.8111.195.71
Interest Coverage
347.5542.802.56
Quick Ratio
LEN
DHI
INVH

Profitability

Metric
LEN
DHI
INVH
Return on Assets (Normalized)
11.38%15.42%2.96%
Return on Equity (Normalized)
16.77%22.72%5.46%
Return on Invested Capital (Normalized)
14.09%18.15%4.48%
Return on Assets
LEN
DHI
INVH
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Residential Construction Industry Comparables

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Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
DHI
D.R. Horton IncTqdznvhgDzbd$48.2 Bil
LEN.B
Lennar Corp Class BQcx$41.4 Bil
NVR
NVR IncQrfvzqvkRbsr$24.6 Bil
PHM
PulteGroup IncJfwftwkkbDxx$22.4 Bil
SKHSF
Sekisui House LtdGbtw$14.1 Bil
SKHSY
Sekisui House Ltd ADRYzcb$14.0 Bil
TOL
Toll Brothers IncQjvwvnpgQmlw$11.8 Bil
IBP
Installed Building Products IncNjrkdn$6.3 Bil
BKGFY
Berkeley Group Holdings (The) PLC ADRCyxk$6.1 Bil

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