Len stock price – lennar corp. cl a stock quote (u.s. nyse) – marketwatch electricity grid australia


Shares of Lennar Corp. rallied 4.1% toward a six-month high in active afternoon trade Wednesday, as lower longer-term interest rates resulting from a weaker economic outlook and softer home prices combined to spark optimism ahead of the spring selling season. The stock initially fell as much as 1.9% in premarket trade after Lennar reported first-quarter earnings, revenue and deliveries that missed expectations, but the stock started rallying off the lows as investors appeared to focus more on new orders that rose more expected and electricity and magnetism review average sales prices that fell, versus expectations of an increase. Executive Chairman Stuart Miller said on the post-earnings conference call that the housing market had slowed in the fourth-quarter because of rapid interest rate increases and higher home prices, made homes less affordable. But in the first quarter, as interest rates moderated and home-price appreciation stalled, we clearly saw traffic and sales accelerate through the quarter. Accordingly, sequentially throughout the first quarter, we saw increased interest in new homes gas vs electric oven running cost as part of an improving and stabilizing housing market, Miller said in a statement. CFRA analyst Kenneth Leon reiterated his hold rating, but raised his stock price target to $53 from $45. The stock has now run up 32.2% year to date, while the SPDR SP Homebuilders ETF has climbed 18.5% and the SP 500 has gained 11.8%.

Shares of Lennar Corp. fell 1.1% in premarket trade Wednesday, after the home builder reported fiscal first-quarter profit, revenue and deliveries that missed expectations, citing weather issues. Net income for the quarter to Feb. 28 rose to $239.9 million, or 74 cents a share static electricity in water, from $136.2 million, or 53 cents a share, in the year-ago period. The FactSet EPS consensus was 75 cents. Total revenue rose 30% to $3.87 billion but was below the FactSet consensus of $4.04 billion, as homebuilding revenue growth of 36% to $3.62 billion missed expectations of $3.81 billion. Deliveries increased 30% to 8,820 homes, below the FactSet consensus of 9,347, while the average price of home delivered rose 4.3% to $410,000 to beat expectations of $408,030. New orders increased 24% to 10,463 homes, topping the FactSet consensus of 9,972, while the electricity electricity goodness average sales price fell 2.5% to $397,000 from $398,000, versus expectations of a rise to $399,350. Lennar’s stock has soared 27.0% year to date through Tuesday, while the SPDR SP Homebuilders ETF has rallied 17.5% and the SP 500 has gained 12.4%.

The SPDR SP Homebuilders ETF fell 0.5% in afternoon trade Tuesday, in the wake of disappointing housing data, ironically on the same day that a bullish golden cross chart pattern is set to appear. Of the ETF’s 35 equity components, 25 were trading lower. Earlier, data showed that February housing starts dropped a more-than-expected 9% and home price growth slowed in January, to the slowest pace in 6 1/2 years. Meanwhile, a golden cross is when the 50-day moving average, a short-term trend guide, crosses above the 200-day moving average (DMA), a longer-term trend tracker. Many chart watcher believe the crosses mark the spot a short-term rally transforms into a longer-term uptrend. The homebuilders ETF’s (XHB) 50-DMA currently extended to $37.377 while 200-DMA was at $37.370, according to FactSet. That would mark the first time the XHB’s 50-DMA was above the 200-DMA since April 20, 2018, and be the first golden cross since Jan. 23, 2017. Among the XHB’s more active components Tuesday, shares of D.R. Horton Inc. shed 2.0%, Lennar Corp. gave up 0.7%, Lowe’s Companies Inc. slipped 0.1%, Home Depot Inc. declined 0.2% and PulteGroup electricity hero names Inc. lost 0.1%.

The home-building sector was trading mostly lower Tuesday, in the wake of disappointing housing starts data and a warning of a wider-than-expected loss from roofing materials distributor Beacon Roofing Supply Inc. . The iShares U.S. Home Construction ETF fell 0.8%, with 31 of 48 components losing ground. Earlier, the Commerce Department reported February housing starts fell almost 9% to an annual pace of 1.16 million, below the average forecast of economists surveyed by MarketWatch of a seasonally adjusted rate of 1.21 million. And Beacon Roofing’s stock tumbled 7.2% after the company said late Monday gas and supply locations that it expected a fiscal second-quarter adjusted loss of 45 cents to 55 cents, compared with the current FactSet loss-per-share consensus of 39 cents, and the loss consensus of 25 cents a share at the end of February. The company blamed extremely harsh weather conditions for the miss. Meanwhile, shares of KB Home , which reports fiscal first-quarter results after the close, fell 0.6%, and Lennar gas evolution reaction Corp. , which reports before Wednesday’s open, slumped 1.3%. The home construction ETF has rallied 16% year to date, while the SP 500 has gained 13%.

Shares of home builder KB Home surged 4.8% in afternoon trade Monday, enough to pace the home construction sector’s gainers, after an upbeat call by analyst Jack Micenko at Susquehanna, a day ahead of the company’s (KBH) fiscal first-quarter results. The company is slated to report results after Tuesday’s close. We particularly like the set up for KBH into tomorrow’s print, Micenko wrote in a note to clients. The focus will be on orders and we think they will come in better than consensus. The FactSet consensus for deliveries is 2,187 units and for new orders is 2,576 electricity around the world. Micenko said he believes Lennar Corp. , which is scheduled to report results before Wednesday’s open, can also beat orders expectations given conservative guidance, but is worried about gross margin guidance for the rest of the year. Lennar shares rose 3.0% in afternoon trade. KB Home’s stock has rallied 24.8% year to date and Lennar’s stock has run up 26.8%, while the iShares U.S. Home Construction ETF has hiked up 16.9% and the SP 500 has gained 9.4%.