Lennar Corporation (LEN - Free Report) is a Zacks Rank #1 (Strong Buy) and it is the Bull of the Day today. Let’s take a look at why this stock made it the highest Zacks Rank and if it is a stock that you should be adding to your portfolio.
Description
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land. It primarily sells single-family attached and detached homes in communities targeted to first-time, move-up, active adult, and luxury homebuyers. The company also offers residential mortgage financing, title insurance, and closing services for home buyers and others. In addition, it involves in the fund investment activity; and originates and sells into securitizations commercial mortgage loans. Further, the company develops, constructs, and manages multifamily rental properties. Lennar Corporation was founded in 1954 and is based in Miami, Florida.
Moving South?
I have heard a lot of crazy stories from the real estate market lately. Just the other day there was the home in Washington DC that had 76 all cash offers (88 total) and sold for 70% above the asking price. That was more of a case of supply and demand.
There is also the idea of 1000 people a day moving to Florida. That means there are lot of people that will want to have a new home of their own and LEN is one of the many that stand to benefit from that trend.
It doesn’t hurt that LEN is based in Miami FL!
Earnings History
I see a great earnings history with the company beating the Zacks Consensus in each of the last four quarters.
Over that time period I see the average positive earnings surprise coming in at a robust 24%. That is really good considering the pandemic has really put a kink in the supply chain for builders.
Estimate Revisions
This is the real reason the stock is now a Zacks Rank #1 (Strong Buy). Estimates are moving higher.
This quarter, next quarter, this year and next year are all moving in the right direction.
This year has moved from $9.04 to $10.98 and that is something else!
Next fiscal year has seen an increase from $10.38 to $10.99 which is just what an investor wants to see.
Valuation
What a great valuation on LEN. I see only 9x forward earnings and that comes after positing 18% topline growth in the most recent quarter. I see a 1.6x price to book multiple and 1.3x price to sales multiple. Margins are looking good and that means this stock is one that you should be looking at for your portfolio.
Chart
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Lennar Corporation (LEN - Free Report) is a Zacks Rank #1 (Strong Buy) and it is the Bull of the Day today. Let’s take a look at why this stock made it the highest Zacks Rank and if it is a stock that you should be adding to your portfolio.
Description
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land. It primarily sells single-family attached and detached homes in communities targeted to first-time, move-up, active adult, and luxury homebuyers. The company also offers residential mortgage financing, title insurance, and closing services for home buyers and others. In addition, it involves in the fund investment activity; and originates and sells into securitizations commercial mortgage loans. Further, the company develops, constructs, and manages multifamily rental properties. Lennar Corporation was founded in 1954 and is based in Miami, Florida.
Moving South?
I have heard a lot of crazy stories from the real estate market lately. Just the other day there was the home in Washington DC that had 76 all cash offers (88 total) and sold for 70% above the asking price. That was more of a case of supply and demand.
There is also the idea of 1000 people a day moving to Florida. That means there are lot of people that will want to have a new home of their own and LEN is one of the many that stand to benefit from that trend.
It doesn’t hurt that LEN is based in Miami FL!
Earnings History
I see a great earnings history with the company beating the Zacks Consensus in each of the last four quarters.
Over that time period I see the average positive earnings surprise coming in at a robust 24%. That is really good considering the pandemic has really put a kink in the supply chain for builders.
Estimate Revisions
This is the real reason the stock is now a Zacks Rank #1 (Strong Buy). Estimates are moving higher.
This quarter, next quarter, this year and next year are all moving in the right direction.
This year has moved from $9.04 to $10.98 and that is something else!
Next fiscal year has seen an increase from $10.38 to $10.99 which is just what an investor wants to see.
Valuation
What a great valuation on LEN. I see only 9x forward earnings and that comes after positing 18% topline growth in the most recent quarter. I see a 1.6x price to book multiple and 1.3x price to sales multiple. Margins are looking good and that means this stock is one that you should be looking at for your portfolio.
Chart
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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