Lennar Corp. (LEN) trailed the homebuilding sector today with a modest gain, not as inspired as similar stocks were by good news regarding jobless claims. The failure of this stock to keep pace with its peers forces investors to question which - if any - homebuilder stocks are actually worth owning now?
Though the company took a loss last quarter, its backlog as of the end of the last quarter was 25% stronger than it was in Q1. The homebuilder isn't expected to turn a profit in 2010, though that's not necessarily the case for all of its competitors.
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About Lennar Corp. (LEN)
Lennar Corp. (LEN) is a homebuilder and a provider of financial services. The Company operates in four segments: Homebuilding East, Homebuilding Central, Homebuilding West and Homebuilding Houston. The Company's homebuilding operations include the construction and sale of single-family attached and detached homes, and to a lesser extent multi-level residential buildings, as well as the purchase, development and sale of residential land directly and through unconsolidated entities, in which it has investments. The Financial Services segment provides mortgage financing, title insurance, closing services and other ancillary services (including high-speed Internet and cable television) for both buyers of the Company's homes and others. All of the loans the Financial Services segment originates are sold in the secondary mortgage market.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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http://community.smallcapnetwork.com/Small-Cap-Home-Builder-Stocks-Grasping-At-Straws/s/article/view/p/mid/1/id/135/
