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Lennar Q1 2024 financial results announced

14 March 2024 By Klavs Valters

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Lennar Corporation (NYSE: LEN) has had a good start to 2024 with the share price up by over 11% reaching new all-time highs.

On Wednesday, it was time for the US construction company to release the latest financial results for Q1 2024, ending on 29/2/24.

Lennar reported revenue of $7.313 billion for the quarter, which was below estimate of $7.39 billion. Revenue was up by 13% from the same period the year before.

Earnings per share topped expectations at $2.57 (up by 25% year-over-year) vs. $2.21 per share expected.

Company overview

  • Founded: 1954
  • Headquarters: Waterford District, unincorporated Miami-Dade County, Florida (Miami, Florida postal address)
  • Number of employees: 12,012 (2022)
  • Industry: Construction
  • Key people: Stuart Miller (Executive Chairman, co-CEO), Jon Jaffe (co-CEO, President), Fred Rothman (COO)

Stock reaction

Shares were down by 0.28% at the end of Wednesday’s session at $165.50 a share.

The stock fell by around 1% in the after-hours trading.

Stock performance

  • 5 day: +2.77%
  • 1 month: +7.56%
  • 3 months: +14.01%
  • Year-to-date: +11.04%
  • 1 year: +65.19%

Lennar stock price targets

  • Wedbush: $130
  • Raymond James: $165
  • JMP Securities: $170
  • The Goldman Sachs Group: $158
  • Royal Bank of Canada: $137
  • Barclays: $165
  • Jefferies Financial Group: $117
  • Wells Fargo & Company: $130
  • JP Morgan Chase & Co.: $135
  • Citigroup: $139
  • UBS Group: $159
  • Evercore ISI: $164
  • Bank of America: $120

Lennar Corporation is the 416th largest company in the world with a market cap of $45.63 billion, according to CompaniesMarketCap.

You can trade Lennar Corporation (NYSE: LEN) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to “Trading” then select “Share CFDs”.

GO Markets offers pre-market and after-market trading on popular US Share CFDs.

Why trade during extended hours?

  • Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
  • Reduce your risk and hedge your existing positions ahead of a new trading day
  • Extended trading hours on popular US stocks means extended opportunities

Sources: Lennar Corporation, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

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Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.