October 3 Earnings: Lennar - The Luxury Housing God
Lennar has had an impressive performance record with a recovering economy and housing market.
The company's continued effort on Real Estate development and Financing is fueling sales growth.
Earnings should get a boost from cost cutting and operational efficiency efforts.
Sales, however, are expected to dampen in the quarter with 120 homes deliveries postponed due to hurricanes.
Rising construction, labor and land costs are expected to damped earnings luster.
I believe the company will provide healthy guidance and beat expectations.
I'm starting Lennar with a $60.00 Price Target heading into 2018.
The company's continued effort on Real Estate development and Financing is fueling sales growth.
Earnings should get a boost from cost cutting and operational efficiency efforts.
Sales, however, are expected to dampen in the quarter with 120 homes deliveries postponed due to hurricanes.
Rising construction, labor and land costs are expected to damped earnings luster.
I believe the company will provide healthy guidance and beat expectations.
I'm starting Lennar with a $60.00 Price Target heading into 2018.
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Partial profits taken on behalf of market-wide downside risks.