Lennar Analysis After Third Quarter Earnings
LEN Analysis done on daily candles. Shares of Lennar declined following their third quarter earnings report post market. The company’s numbers were strong and met analyst expectations, with revenue up to 18% YoY to $6.9 billion. Net earnings per shares was also up 100% YoY, setting the company on track to have more cash at hand to repurchase 2.5 million shares. Despite the impressive earnings, the stock still declined post market due to reports of a supply chain constraint, which is ravishing many industries’ guidance for the next quarter. Looking at their history, the company had a massive year as home buying reached all time highs, but they need a period of consolidation before taking off again. Construction and home building...