Lennar Q1 2024 financial results announced
14 March 2024Lennar 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.
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Sources: Lennar Corporation, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap
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