10 Best Dow Dividend Stocks To Watch Right Now: Lennar Corp.(LEN)
The third largest U.S. homebuilder by revenue reported exceptional Q3 results, as its earnings more than quadrupled, primarily as a result of an increase in new-home demand. The reported net income of 40c was well ahead of last year's 11c, and the forecasted 28c.
According to the company's CEO, Stuart Miller, "The homebuilding business is beginning to revert to normal, and that's a positive for the U.S. economy in general, which is in turn good for sustained recovery in the housing market. Overall demand has been improving and we've seen a consistent sales pace at improving prices."
LEN's contract backlog, which is an indicator of future sales, rose by a whopping 79% on a YoY basis. Its average selling price of delivered homes also increased to $258,000 from last year's $247,000.
Advisors' Opinion:- [By Ben Levisohn]
Consider: KB Home (KBH) and DR Horton (DHI) have dropped 29% during the past six months, while PulteGroup (PHM) has declined 24% and Lennar (LEN) is off 20%.
- [By Lu Wang]
Lennar (LEN), the third-largest U.S. homebuilder by revenue, rose 4.3 percent to $36.01 after fiscal third-quarter earnings topped analysts estimates, driven by higher sales and home prices.
- [By CNNMoney Staff]
Housing stocks were among the biggest winners, with shares of Pulte Group (PHM), DR Horton (DHI), and Lennar (LEN) all up sharply.
Traders on StockTwits said investors may be betting on the group as Summers' decision to drop out from the Fed chief race could be good for the housing market. With Treasury yields falling, the hope is that mortgages rates might do the same.
- [By Blake Bos]
In this video, Blake looks at lumber prices compared to housing starts to help give investors a frame of reference. What will this mean for homebuilders likeLennar (NYSE: LEN ) and PulteGroup (NYSE: PHM ) ?
source from Top Penny Stocks For 2015:http://www.topstocksforum.com! /10-best-! dow-dividend-stocks-to-watch-right-now-2.html
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