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Lennar Corporation (NYSE:LEN) reported its Q3 results, with quarterly EPS growing 100% year-over-year to $4.52. Excluding the mark to market adjustments, the EP

Lennar Corporation Reported Q3 Results, with 100% EPS Growth

Sep 22, 2021 5:57 PM - Davit Kirakosyan

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Lennar Corporation (NYSE:LEN) reported its Q3 results, with quarterly EPS growing 100% year-over-year to $4.52. Excluding the mark to market adjustments, the EPS was $3.27, a bit lower than the Street estimate of $3.28.

The company’s guided Q4/21 orders of 15,200-15,400 (+0-1%) came in lower than the consensus estimate of +7%.

Analysts at RBC Capital increased their price target on the company’s shares to $102 from $100, raising their 2021 EPS estimate to $14.51 from $13.47, driven entirely by the Q3 MTM gains with core Q4 coming down.

The brokerage said it remains Sector Perform on the company against a backdrop of lower visibility into 2022, given the risk of demand deceleration, supply constraints, and a push-out of SpinCo timing.

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