Lennar stock is down 20% year-to-date and 34% over the past year, as its quarter ended Aug. 31 saw revenue fall 9% to $8 billion and earnings drop 49% to $1.19 per share, both below estimates. CEO Stuart Miller blamed inflation, mortgage rates around 6.8% at quarter-end and weaker consumer confidence, and Lennar expects 19,500 to 20,500 new orders next quarter versus 20,879 in Q3. After the report, several analysts cut price targets, and the median target of $72.50 implies a 15% drop from $84; 48% of analysts rate the stock a sell. Berkshire Hathaway added about 3 million shares in Q2, a 30% increase, raising its stake to about 5.5%. The author argues the stock may be near a cyclical bottom and suggests long-term investors could wait for more economic clarity.
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SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/28/2026 | 772.35 |
| Change that session | +0.35% |
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