Lennar's Better-Than-Expected First-Quarter Sales Orders Is a Promising Sign for 2019
Shares of Lennar traded higher March 27 after the no-moat-rated homebuilder reported fiscal first-quarter results that mostly beat management's guidance. Most notably, Lennar reported 10,463 new sales orders during the quarter versus guidance of 9,700-10,000 orders (we had been expecting approximately 9,900). The better-than-expected order activity tells us that the all-important spring selling season, which started on Super Bowl Sunday, is off to a strong start. Recent mortgage application acti...Lennar is a homebuilder in the United States, an originator of residential and commercial mortgage loans, a provider of title insurance and closing services and a developer of multifamily rental properties. 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 directly and through unconsolidated entities in which it has investments. The company operates under the Lennar brand name. The company creates and participates in joint ventures that acquire and develop land for its homebuilding operations, for sale to third parties or for use in the ventures' own homebuilding operations.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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