Significantly, investor sentiment on home builders have increased after the National Association for Home Builders reported improved index sentiments for August. In fact, the confidence level was much better at 65 points than the expected level of 60 points.
While Lennar and KB Home are expected to report in growth in new orders and backlog dollar value, their gross margin coming under pressure is not ruled out. This is primarily due to increase in land costs, which would be partly offset by increased average selling prices of homes delivered.
In July, Argus termed the housing market as in the midst of its upcycle, specifically referring to Lennar. The brokerage pointed out that mortgage rates continued to remain buyer friendly. Therefore, there is every reason to think home sales would deliver in-line expectations.
The following companies will report earnings results on September 20:
- Lennar: Street expects EPS of $0.90 on revenue of $2.68 billion revenue for the third quarter.
- KB Home: Analysts are looking for an EPS of $0.39 on revenue of $944.14 million.
Other companies expected to report in October and November:
- PulteGroup, Inc. PHM is expected to report earnings October 20.
- Taylor Morrison Home Corp TMHC is expected to announce during the first week of November.
- DR Horton, Inc. DHI is expected to report in November's second week.
- Beazer Homes USA, Inc. BZH is predicted to release its results the second week of November.
- Toll Brothers Inc (TOL) is likely to announce its results in first week of December.
At Time Of Writing ...
- Beazer Homes was up 1.09 percent at $11.12.
- D.R. Horton was up 1.53 percent at $30.43.
- KB Home was up 3.09 percent at $15.34.
- Lennar Corporation was up 1.78 percent at $45.13.
- PulteGroup was up 1.94 percent at $19.95.
- Taylor Morrison was up 1.76 percent at $16.75.
- Toll Brothers was up 0.37 percent at $29.48. Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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