Lennar Corporation shares touched a 52-week low of $76.61, trading down to $76.13, as the homebuilder reported third-quarter results that fell short of Wall Street expectations.
Adjusted earnings per share came in at $1.23, missing the consensus estimate of $1.29. Revenue totaled $8.05 billion, below the anticipated $8.31 billion and marking a 9% decrease from the same period last year. The company delivered 20,840 homes during the quarter, slightly below the StoneX estimate of 21,000, while the average selling price stood at $372,000.
Lennar's market capitalization fell to $18.62 billion, and its price-to-earnings ratio registered at 12.14. The stock has declined 41.38% over the past year.
Analysts offered limited enthusiasm. StoneX reiterated a Hold rating on the shares. UBS maintained a Neutral rating with a $94 price target, while Citizens kept a Market Perform designation.
