Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?Let's take a look at what these Wall Street heavyweights have to say about Lennar (LEN) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Lennar currently has an average brokerage rec ...

The most recent trading session ended with Lennar (LEN) standing at $154.29, reflecting a +0.98% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 1.02%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq added 2.03%.Prior to today's trading, shares of the homebuilder had lost 11.16% over the past month. This has lagged the Construction sector's loss of 6.08% and the S&P 500's loss of 3.15% in that time.Market participants will be closely f ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.It also includes access to the Zacks Style Scores.What are the Zacks Style Scores?Developed along ...

Lennar (LEN) closed at $154.12 in the latest trading session, marking a -1.01% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.02%. On the other hand, the Dow registered a loss of 0.11%, and the technology-centric Nasdaq increased by 0.1%.Shares of the homebuilder have depreciated by 5.96% over the course of the past month, outperforming the Construction sector's loss of 6.13% and lagging the S&P 500's loss of 3.01%.Investors will be eagerly watching for the perform ...

A month has gone by since the last earnings report for Lennar (LEN) . Shares have added about 4.3% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Lennar due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Lennar Q1 Earnings Beat, Revenues Miss, Orders UpLennar Corporat ...

Core Points - Lennar Corporation has declared a quarterly cash dividend of $0.50 per share for both Class A and Class B common stock, payable on May 8, 2024 [1] - The record date for the dividend is April 24, 2024 [1] Company Overview - Lennar Corporation, founded in 1954, is a leading builder of quality homes for all generations, focusing on affordable, move-up, and active adult homes primarily under the Lennar brand [2] - The company also has a Financial Services segment that provides mortgage financing, title, and closing services mainly for buyers of Lennar's homes, and originates mortgage loans secured by commercial real estate properties through LMF Commercial [2] - Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties [2] - LENX is responsible for driving Lennar's technology, innovation, and strategic investments [2]

Core Viewpoint - Zacks Premium provides various tools and resources to help investors make informed decisions and enhance their investment strategies [1]. Summary by Categories Zacks Style Scores - Zacks Style Scores rate stocks based on value, growth, and momentum, providing a comprehensive approach to stock selection [2]. - Stocks are rated from A to F, with A indicating the highest potential for outperforming the market [2]. Value Score - The Value Style Score identifies attractive and discounted stocks using financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [2]. Growth Score - The Growth Style Score focuses on a company's financial strength and future outlook, analyzing projected and historical earnings, sales, and cash flow [3]. Momentum Score - The Momentum Style Score assesses trends in stock prices and earnings outlooks, utilizing factors like one-week price changes and monthly earnings estimate changes [3]. VGM Score - The VGM Score combines all three Style Scores, offering a comprehensive indicator for investors who utilize multiple investing strategies [4]. Zacks Rank - The Zacks Rank is a proprietary model based on earnings estimate revisions, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [5]. - There are over 800 top-rated stocks available, making it essential for investors to choose wisely [5]. Stock to Watch: Lennar (LEN) - Lennar Corporation, founded in 1954 and based in Miami, FL, operates in homebuilding and financial services, with segments including Homebuilding and Lennar Financial Services [7]. - LEN holds a 3 (Hold) Zacks Rank and a VGM Score of A, with a Value Style Score of B, supported by a forward P/E ratio of 11.41 [7]. - Recent analyst revisions have increased the earnings estimate for fiscal 2024 by $0.23 to $14.46 per share, with an average earnings surprise of 16.8% [7].

In a stock market full of high-flying expensive stocks, this is a high-flying cheap one.Do you think stocks are getting expensive? You could be right. One key valuation metric -- the S&P 500 Shiller cyclically adjusted price-to-earnings (CAPE) ratio -- is at its highest level since early 2022 when the market began to tank. But not every stock is priced at a nosebleed level. You can find several good picks in Warren Buffett's Berkshire Hathaway portfolio. Here's one ridiculously cheap Buffett stock to buy ha ...

Middle-income community marks Quarterra's fourth venture in the Atlanta Metro Area CONYERS, Ga., April 2, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and property manager, in partnership with Nuveen, today announced the start of leasing at Emblem Conyers, Quarterra's latest community in the Atlanta market. Emblem Conyers is a 264-home garden-style community in Conyers, Georgia, a charming town on the eas ...

[Part I: Financial Information](index=3&type=section&id=Part%20I%20Financial%20Information) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements.) The company's total assets slightly decreased to $39.0 billion as of February 29, 2024, from $39.2 billion at November 30, 2023, while total revenues increased to $7.3 billion and net earnings rose to $719.3 million for the quarter ended February 29, 2024 [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of February 29, 2024, Lennar's total assets were $38.95 billion, a slight decrease from $39.23 billion at November 30, 2023, with total liabilities decreasing and total equity increasing over the same period Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | Feb 29, 2024 (in thousands) | Nov 30, 2023 (in thousands) | | :--- | :--- | :--- | | **Total Assets** | **$38,951,199** | **$39,234,303** | | Homebuilding Inventories | $19,374,070 | $18,352,735 | | Cash and cash equivalents | $4,950,128 | $6,273,724 | | **Total Liabilities** | **$12,173,269** | **$12,532,337** | | Homebuilding Senior notes | $2,830,332 | $2,816,482 | | **Total Equity** | **$26,777,930** | **$26,701,966** | [Condensed Consolidated Statements of Operations and Comprehensive Income](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income) For the three months ended February 29, 2024, Lennar reported total revenues of $7.31 billion, a 12.7% increase year-over-year, with net earnings attributable to Lennar growing by 20.6% to $719.3 million and diluted earnings per share increasing to $2.57 Statement of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended Feb 29, 2024 (in thousands) | Three Months Ended Feb 28, 2023 (in thousands) | Change (YoY) | | :--- | :--- | :--- | :--- | | **Total Revenues** | **$7,312,930** | **$6,490,429** | **+12.7%** | | Homebuilding Revenues | $6,930,991 | $6,156,305 | +12.6% | | Financial Services Revenues | $249,720 | $182,981 | +36.5% | | **Net Earnings Attributable to Lennar** | **$719,334** | **$596,534** | **+20.6%** | | **Diluted Earnings Per Share** | **$2.57** | **$2.06** | **+24.8%** | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the three months ended February 29, 2024, net cash provided by operating activities was $367.9 million, a decrease from the prior-year period, with significant cash used in financing activities primarily for stock repurchases and dividends, ending the period with $5.26 billion in cash and restricted cash Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended Feb 29, 2024 (in thousands) | Three Months Ended Feb 28, 2023 (in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $367,867 | $978,205 | | Net cash used in investing activities | ($147,915) | ($36,355) | | Net cash used in financing activities | ($1,529,422) | ($1,483,463) | | **Net decrease in cash** | **($1,309,470)** | **($541,613)** | | **Cash at end of period** | **$5,261,468** | **$4,274,157** | [Notes to Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the company's accounting policies and provide further breakdown of financial data, covering segment performance, investments, equity changes, debt, fair value measurements, and commitments [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) Management highlights strong housing demand driven by supply shortages, despite affordability challenges, and focuses on a 'pure play manufacturing model' and 'land light' strategy to enhance efficiency and cash flow, projecting 80,000 home deliveries for FY2024 with over 23% gross margin and over $2 billion in stock repurchases - Management highlights a strong demand for housing limited by a chronic supply shortage and affordability constraints; the core operating strategy focuses on a **manufacturing model** to reduce costs and a **land-light balance sheet** to generate cash flow[110](index=110&type=chunk) - The company is considering a strategic, taxable spin-off of its excess land to create a permanent capital vehicle for future land development and acquisition, enhancing its **land-light strategy**[112](index=112&type=chunk) Fiscal 2024 Outlook | Metric | Q2 2024 Forecast | Full Year 2024 Forecast | | :--- | :--- | :--- | | Home Closings | 19,000 - 19,500 | 80,000 | | Gross Margin | ~22.5% | >23% | | Stock Repurchases | - | >$2 billion | Q1 2024 vs Q1 2023 Homebuilding Performance | Metric | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Home Deliveries | 16,798 | 13,659 | +23% | | New Orders | 18,176 | 14,194 | +28% | | Average Sales Price (Delivered) | $413,000 | $448,000 | -8% | | Gross Margin on Home Sales | 21.8% | 21.2% | +60 bps | | Cancellation Rate | 14% | 22% | -8 p.p. | [Results of Operations](index=28&type=section&id=MD%26A_Results_of_Operations) In Q1 2024, home sales revenue rose 13% to $6.9 billion, driven by a 23% increase in home deliveries to 16,798, despite an 8% decrease in average sales price to $413,000, with gross margin on home sales improving and Financial Services operating earnings surging to $130.6 million Home Deliveries and Average Sales Price by Segment (Q1 2024 vs Q1 2023) | Segment | Deliveries (Homes) 2024 | Deliveries (Homes) 2023 | Avg. Sales Price 2024 | Avg. Sales Price 2023 | | :--- | :--- | :--- | :--- | :--- | | East | 4,724 | 3,855 | $413,000 | $444,000 | | Central | 3,560 | 2,740 | $392,000 | $438,000 | | Texas | 4,263 | 3,421 | $251,000 | $297,000 | | West | 4,238 | 3,642 | $595,000 | $602,000 | | **Total** | **16,798** | **13,659** | **$413,000** | **$448,000** | New Orders and Average Sales Price by Segment (Q1 2024 vs Q1 2023) | Segment | New Orders (Homes) 2024 | New Orders (Homes) 2023 | Avg. Sales Price 2024 | Avg. Sales Price 2023 | | :--- | :--- | :--- | :--- | :--- | | East | 4,526 | 3,841 | $419,000 | $436,000 | | Central | 4,274 | 2,741 | $402,000 | $419,000 | | Texas | 4,431 | 3,142 | $253,000 | $280,000 | | West | 4,927 | 4,465 | $608,000 | $607,000 | | **Total** | **18,176** | **14,194** | **$426,000** | **$452,000** | - Financial Services operating earnings increased significantly to **$130.6 million** in Q1 2024 from **$78.2 million** in Q1 2023, primarily due to higher profit per locked loan, increased capture rate (**85% vs 78%**), and higher volume[118](index=118&type=chunk)[133](index=133&type=chunk) [Financial Condition and Capital Resources](index=34&type=section&id=MD%26A_Financial_Condition_and_Capital_Resources) As of February 29, 2024, Lennar maintained strong liquidity with $5.3 billion in cash and $7.6 billion in total available capacity, with no credit facility borrowings and a stable Homebuilding debt to total capital ratio of 9.6%, while repurchasing $595 million of common stock and increasing its repurchase authorization by $5 billion - The company maintains a strong liquidity position with **$5.0 billion** of homebuilding cash and no outstanding borrowings under its **$2.6 billion** revolving credit facility, providing approximately **$7.6 billion** of available capacity[138](index=138&type=chunk) Homebuilding Debt to Total Capital Ratios | Ratio | Feb 29, 2024 | Nov 30, 2023 | Feb 28, 2023 | | :--- | :--- | :--- | :--- | | Homebuilding debt to total capital | 9.6% | 9.6% | 14.2% | | Net homebuilding debt to total capital (Non-GAAP) | (8.6)% | (15.0)% | (0.1)% | - In January 2024, the Board of Directors authorized an increase to the stock repurchase program by an additional **$5 billion**; during Q1 2024, the company repurchased **$595 million** of its common stock[148](index=148&type=chunk)[141](index=141&type=chunk) - On February 7, 2024, the company paid a quarterly cash dividend of **$0.50 per share**, an increase from the **$0.375 per share** paid in 2023[148](index=148&type=chunk)[61](index=61&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=40&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk.) The company is primarily exposed to market risks from interest rate fluctuations affecting its debt, investments, and mortgage portfolio, with no material changes in these exposures since fiscal year-end 2023, holding $2.83 billion in fixed-rate Homebuilding debt and $1.43 billion in variable-rate Financial Services debt Debt Principal by Interest Rate Type (as of Feb 29, 2024, in millions) | Segment | Rate Type | Total Principal Amount (in millions) | | :--- | :--- | :--- | | Homebuilding | Fixed | $2,829.5 | | Financial Services | Fixed | $130.3 | | Financial Services | Variable | $1,434.0 | - There have been no material changes in market risk exposures associated with interest rate risk since November 30, 2023[162](index=162&type=chunk) [Item 4. Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures.) As of February 29, 2024, the company's Co-CEOs and CFO concluded that its disclosure controls and procedures were effective, with no material changes identified in internal control over financial reporting during the quarter - Management, including the Co-CEOs and CFO, concluded that the company's disclosure controls and procedures were **effective** as of February 29, 2024[165](index=165&type=chunk) - No changes were identified during the quarter that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[165](index=165&type=chunk) [Part II: Other Information](index=42&type=section&id=Part%20II%20Other%20Information) [Item 1. Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings.) The company is party to various routine claims and lawsuits, primarily related to construction defects, with management not expecting a material adverse effect on its business or financial position - The company faces routine legal claims, most commonly involving construction defects, which are typical for the homebuilding industry[167](index=167&type=chunk) - Management asserts that the resolution of current legal proceedings is not expected to have a **material adverse effect** on the company's financial position[167](index=167&type=chunk) [Item 1A. Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors.) No material changes to risk factors were reported since the fiscal year-end 2023, apart from the ongoing impact of inflation and increased interest rates discussed in the MD&A section - No material changes in risk factors are reported, aside from the impacts of inflation and interest rates discussed elsewhere in the report[168](index=168&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds.) During the three months ended February 29, 2024, the company repurchased 3,947,462 shares at an average price of approximately $150.58 per share, as part of a publicly announced program increased by an additional $5 billion authorization in January 2024 Share Repurchases (December 2023 - February 2024) | Period | Total Shares Purchased | Average Price Paid Per Share | Shares Purchased as Part of Program | | :--- | :--- | :--- | :--- | | Dec 2023 | 124,966 | $145.52 | 123,877 | | Jan 2024 | 2,074,719 | $147.74 | 1,902,014 | | Feb 2024 | 1,747,777 | $151.78 | 1,374,109 | - In January 2024, the Board of Directors authorized an increase to the stock repurchase program, allowing for the repurchase of up to an additional **$5 billion** in value of its common stock[169](index=169&type=chunk) [Item 5. Other Information](index=42&type=section&id=Item%205.%20Other%20Information.) On February 9, 2024, Executive Vice President Jeff J. McCall entered into a Rule 10b5-1 trading plan for the potential sale of up to 30,000 shares of common stock, with sales scheduled to begin on May 10, 2024 - Executive Vice President Jeff J. McCall established a Rule 10b5-1 trading plan to sell up to **30,000 shares** of company stock, starting May 10, 2024[170](index=170&type=chunk) [Item 6. Exhibits](index=43&type=section&id=Item%206.%20Exhibits.) This section lists the exhibits filed with the Form 10-Q, including various award agreements, executive officer certifications, and iXBRL data files