What is Lennar Corporation?
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States.
The story behind the price, the case for and against, and what could go wrong. Open a part to read it.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding South Central, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company is listed on the NYSE in USA, operating in the Consumer Cyclical sector, with a market capitalisation of 19.23B, and a P/E ratio of 15.1x.
A short list of Residential Construction names that are close enough in size to make side-by-side comparison useful.
Openbook research
Lennar's gross margin fell to 15.8% from 17.5% while incentives were cut to 12.0% of price, the clearest sign new-home margin pressure is structural.
The 30-year fixed mortgage reached 6.76%, a 15-month high, with the Fed now debating a hike. For D.R. Horton the cost lands in margin, not in closings.