TradingKey – Lennar starts off with a Sept. 15 closing of $80.07, verified vs. $80.11 reference. The stock recently recovered from $76.72, but still remains below $80.47-$80.73 former support, now turned resistance. The most crucial point on the calendar for today is the Fed decision and the Lennar fiscal Q3 earnings are after the U.S. closing. The main question is whether the combination of lower construction costs and falling incentives will offset the high mortgage rates and support home selling gross margin in the 16% range.
Q3 Earnings Are a Margin Test, Not Just an EPS Test
Wall Street is looking for $1.28 EPS and $8.3 billion in revenue, a steep drop from last year’s numbers. Analysts are looking for almost 20,960 deliveries,…
