Why Lennar Stock Jumped 18.9% in January
Shares of Lennar (NYSE: LEN) leapt nearly 19% last month, according to data provided by S&P Global Market Intelligence. The U.S. homebuilding titan delivered a strong fourth-quarter earnings report and announced a monster increase to its dividend.
Lennar's revenue grew 8% year over year to $7 billion. The gains were fueled by a 23% increase in new home orders and a 16% rise in deliveries.
Better still, Lennar is becoming more profitable as it expands its revenue base. Its gross margin on home sales improved by 10 basis points, to 21.5%, while its operating margin increased 40 basis points, to 13.9%. This helped to drive an 11% rise in Lennar's adjusted net earnings to $674.3 million, or $2.13 per share.
Source Fool.com
