What Lies Ahead For Lennar Corp. (NYSE: LEN) In 2024?

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Lennar Corp. (NYSE:LEN) shares, rose in value, with the stock price up by 1.58% to the previous day’s close as strong demand from buyers drove the stock to $166.22.

Actively observing the price movement in the last trading, the stock closed the session at $163.64. The value of beta (5-year monthly) was 1.52 whereas the PE ratio was 11.64 over 12-month period. Referring to stock’s 52-week performance, its high was $172.59, and the low was $100.95. On the whole, LEN has fluctuated by 3.22% over the past month.

With the market capitalization of Lennar Corp. currently standing at about $46.36 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 13, 2024. The company’s Forward Dividend Ratio is 1.62, with its dividend yield at 0.98%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $3.24, which is expected to increase to $4.42 for fiscal year $14.59 and then to about $16.38 by fiscal year 2025. Data indicates that the EPS growth is expected to be 6.30% in 2025, while the next year’s EPS growth is forecast to be 12.30%.

Analysts have estimated the company’s revenue for the quarter at $8.51 billion, with a low estimate of $8.14 billion and a high estimate of $8.73 billion. According to the average forecast, sales growth in current quarter could jump up 5.80%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $35.44 billion, representing an increase of 3.50% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that LEN’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 19.41, with the price of LEN currently trading nearly 1.43% and 5.42% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.31, while the 7-day volatility ratio is showing 2.76% which for the 30-day chart, stands at 2.53%. Furthermore, Lennar Corp. (LEN)’s beta value is 1.53, and its average true range (ATR) is 4.30.

A comparison of Lennar Corp. (LEN) with its peers suggests the former has fared considerably weaker in the market. LEN showed an intraday change of 1.58% in last session, and over the past year, it grew by 60.09%%.

Data on historical trading for Lennar Corp. (NYSE:LEN) indicates that the trading volumes over the past 10 days have averaged 1.82 million and over the past 3 months, they’ve averaged 2.11 million. According to company’s latest data on outstanding shares, there are 247.27 million shares outstanding.

Nearly 14.07% of Lennar Corp.’s shares belong to company insiders and institutional investors own 83.91% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.18 million shares as on Mar 15, 2024, resulting in a short ratio of 1.88. According to the data, the short interest in Lennar Corp. (LEN) stood at 1.50% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 4.67 million. The stock has risen by 11.53% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LEN stock heading into the next quarter.

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