FMP
Jun 18, 2024 2:36 PM - Davit Kirakosyan
Image credit: FMP
Homebuilder Lennar Corporation (NYSE:LEN) reported Q1 results that surpassed Wall Street's expectations, despite a decline in home prices due to the impact of higher interest rates on demand. However, shares fell more than 2% in pre-market today as the company forecasted worse-than-expected home deliveries.
For Q1, Lennar posted earnings of $3.45 per share, an increase from $3.01 per share in the same period last year, on revenue of $8.77 billion, up from $8.05 billion. Analysts had predicted earnings of $3.23 per share on revenue of $8.51 billion.
The revenue beat was largely attributed to a 15% increase in home deliveries, which was somewhat offset by a 5% decrease in the average sales price of homes. The company delivered 19,690 homes in the second quarter, up from 17,074 homes a year earlier, while the average sales price decreased to $426,000 from $449,000.
Looking forward to Q3, the company expects to deliver between 20,500 and 21,000 homes, with an average sales price ranging from $420,000 to $425,000.
May 14, 2024 11:41 AM - Sanzhi Kobzhan
A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...
May 16, 2024 8:06 PM - Gordon Thompson
On Thursday, May 16, 2024, Deutsche Bank upgraded its rating on NASDAQ:ASTS to Buy, maintaining a hold position. At the time of the announcement, ASTS was trading at $4.03. This decision was accompanied by an increase in the price target for AST SpaceMobile, raised to $22 from $19, as detailed in a ...
May 24, 2024 9:30 AM - Rajnish Katharotiya
Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...