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Although the revenue and EPS for Lennar (LEN) give a sense of how its business performed in the quarter ended August 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Economic prints were better than expected today, as well -- all but FedEx's (FDX) Q1 earnings results.

Lennar (LEN) came out with quarterly earnings of $3.90 per share, beating the Zacks Consensus Estimate of $3.62 per share. This compares to earnings of $3.91 per share a year ago.

Homebuilder stocks are rising a day after the Federal Reserve kicked off its rate-cutting cycle, lowering the benchmark rate by half a percentage point.

Lennar Corporation LEN will release earnings results for its third quarter, after the closing bell on Thursday, Sept. 19.

Homebuilder stocks are hitting new highs as anticipation builds ahead of the Federal Reserve's upcoming rate cut decision. Both Lennar Corp LEN and PulteGroup, Inc. PHM surged to 52-week highs on Sept.

A steady decline in mortgage rates on interest rate cut expectations would boost the stock price of Warren Buffett's beloved housing stocks NVR and Lennar.

LEN's fiscal third-quarter performance is likely to have reflected higher deliveries amid lower gross margin and higher SG&A expenses.

Shares of homebuilder Lennar Corp (NYSE:LEN) are hitting record highs today, as they head for their sixth gain in the last seven days.

Get a deeper insight into the potential performance of Lennar (LEN) for the quarter ended August 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

Plus, Bank of Japan's rate decision and earnings from Ferguson and General Mills.

Lennar Corporation's stock has surged 40% since July 2023, outperforming the S&P 500, driven by strong demand and expanded earnings multiples despite growth deceleration. Lennar's Q3 earnings report will reveal interesting data. I am focusing on its asset-light transition, handling of construction costs, and the impact of declining mortgage rates. The housing affordability crisis persists despite lower mortgage rates, posing long-term challenges for Lennar, potentially squeezing profit margins due to necessary buyer incentives.

American stocks staged a strong recovery this week, erasing most of the losses made last week. The Dow Jones rose by almost 1% while the S&P 500 and Nasdaq 100 indices soared by over 1.8% and 2.58%, respectively.

Yesterday, mortgage rates fell for a sixth-straight week and hit their lowest level since February 2023, with the average contract interest rate for a 30-year fixed-rate mortgages with conforming loan balances dropping to 6.29%.

In the latest trading session, Lennar (LEN) closed at $180.23, marking a +0.02% move from the previous day.

This article is part of our monthly series where we highlight five large-cap, relatively safe, dividend-paying companies offering large discounts to their historical norms. We go over our filtering process to select just five conservative DGI stocks from more than 7,500 companies that are traded on U.S. exchanges, including OTC networks. In addition to the primary list that yields about 3.6%, we present two other groups of five DGI stocks each, with the goal of moderate to high yields.

Homebuilder stocks surged in July as a

Lennar is the second-largest US homebuilder, with the Homebuilding segment accounting for over 90% of revenues and EBIT. The company has outperformed the iShares US Consumer Discretionary ETF in 2024, delivering a 23% total return. I think Lennar has further upside thanks to an attractive valuation, a conservative capital structure, and sector-wide tailwinds from lower mortgage rates as the Fed normalizes policy.

Buffett owns two similar stocks -- Lennar and NVR. Shares of both homebuilders should soar if the Fed cuts interest rates.