Lennar Corp Class A
LEN: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$373.00 | Hpd | Pbfdjgtgk |
Lennar Earnings: Incentives Continue to Support Steady Sales Pace; Portfolio Shift Moves Forward
Lennar's fiscal second-quarter (as of May 31) earnings report was largely in line with our expectations. Homeownership affordability remains challenging for many prospective buyers, with the average 30-year fixed mortgage rate persisting around 7%. Nevertheless, Lennar continues to enjoy a steady sales pace, supported by its use of sales incentives and less competition from the supply-constrained existing for-sale market.