Reported 8 months ago
Lennar Corporation's stock experienced a 5% decline in trading session despite exceeding fiscal second quarter expectations, possibly due to weaker-than-expected EPS guidance, presenting a potential buying opportunity as the stock is now trading 13% below its 52-week high. Lennar delivered strong Q2 results with increased sales and EPS, while expecting continued growth in home deliveries and planning a significant stock repurchase. However, its Q3 EPS projection fell below estimates, impacting its stock performance, which is relatively flat year-to-date but up 24% over the past year, with a favorable P/E valuation compared to industry peers like Toll Brothers and PulteGroup.
Source: YAHOO