The numbers: Builder confidence fell for the fourth month in a row in August, as elevated mortgage rates continue to spook home buyers.
In the most recent trading session, Lennar (LEN) closed at $170.37, indicating a +1.45% shift from the previous trading day.
In the closing of the recent trading day, Lennar (LEN) stood at $172, denoting a +0.94% change from the preceding trading day.
Lennar (LEN) concluded the recent trading session at $178.18, signifying a +0.83% move from its prior day's close.
Lennar Corp. (LEN, Financial) is the second-largest homebuilder in the United States, trailing only D.R. Horton (DHI).
Shares of Lennar Corp LEN declined in premarket trading on Monday, just weeks after the company announced plans to spin off its land assets.
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Lennar (LEN) reported earnings 30 days ago. What's next for the stock?
Shares of Lennar Corp. got chopped down Tuesday after Raymond James backed away from its longtime bullish call on the home builder, citing margin concerns and other company-specific “overhangs.”
Shares of several home builders tumbled Tuesday after Citi downgraded Lennar (LEN) and D.R. Horton (DHI), citing concerns about a housing market it says may stay sluggish for the rest of the year.
Homebuilding stocks Lennar Corp (NYSE:LEN) and DR Horton Inc (NYSE:DHI) are lower today, after Citigroup downgraded both names to "neutral" from "buy," while also trimming their price targets to $164 from $174 and $156 from $181, respectively, due to their risk/reward ratios.
Lennar NYSE: LEN shares fell 5% to a multi-month low after setting tepid guidance for Q2. However, the move is overblown in light of the guidance, full-year outlook, cash flow, and robust capital return.