Open live CFD account Try free demo
Call: 1800 885 571 Mail: support@gomarkets.com
Login Open account
Login Open account
Login Open account
News & analysis
Try free demo Open account
News & analysis
Try free demo Open account

Lennar Q1 2024 financial results announced

14 March 2024 By Klavs Valters

Share

Lennar Corporation (NYSE: LEN) has had a good start to 2024 with the share price up by over 11% reaching new all-time highs.

On Wednesday, it was time for the US construction company to release the latest financial results for Q1 2024, ending on 29/2/24.

Lennar reported revenue of $7.313 billion for the quarter, which was below estimate of $7.39 billion. Revenue was up by 13% from the same period the year before.

Earnings per share topped expectations at $2.57 (up by 25% year-over-year) vs. $2.21 per share expected.

Company overview

  • Founded: 1954
  • Headquarters: Waterford District, unincorporated Miami-Dade County, Florida (Miami, Florida postal address)
  • Number of employees: 12,012 (2022)
  • Industry: Construction
  • Key people: Stuart Miller (Executive Chairman, co-CEO), Jon Jaffe (co-CEO, President), Fred Rothman (COO)

Stock reaction

Shares were down by 0.28% at the end of Wednesday’s session at $165.50 a share.

The stock fell by around 1% in the after-hours trading.

Stock performance

  • 5 day: +2.77%
  • 1 month: +7.56%
  • 3 months: +14.01%
  • Year-to-date: +11.04%
  • 1 year: +65.19%

Lennar stock price targets

  • Wedbush: $130
  • Raymond James: $165
  • JMP Securities: $170
  • The Goldman Sachs Group: $158
  • Royal Bank of Canada: $137
  • Barclays: $165
  • Jefferies Financial Group: $117
  • Wells Fargo & Company: $130
  • JP Morgan Chase & Co.: $135
  • Citigroup: $139
  • UBS Group: $159
  • Evercore ISI: $164
  • Bank of America: $120

Lennar Corporation is the 416th largest company in the world with a market cap of $45.63 billion, according to CompaniesMarketCap.

You can trade Lennar Corporation (NYSE: LEN) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to “Trading” then select “Share CFDs”.

GO Markets offers pre-market and after-market trading on popular US Share CFDs.

Why trade during extended hours?

  • Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
  • Reduce your risk and hedge your existing positions ahead of a new trading day
  • Extended trading hours on popular US stocks means extended opportunities

Sources: Lennar Corporation, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

Ready to start trading?

Try free demo Open account

The information provided is of general nature only and does not take into account your personal objectives, financial situations or needs. Before acting on any information provided, you should consider whether the information is suitable for you and your personal circumstances and if necessary, seek appropriate professional advice. All opinions, conclusions, forecasts or recommendations are reasonably held at the time of compilation but are subject to change without notice. Past performance is not an indication of future performance. Go Markets Pty Ltd, ABN 85 081 864 039, AFSL 254963 is a CFD issuer, and trading carries significant risks and is not suitable for everyone. You do not own or have any interest in the rights to the underlying assets. You should consider the appropriateness by reviewing our TMD, FSG, PDS and other CFD legal documents to ensure you understand the risks before you invest in CFDs. These documents are available here.