Lennar Corporation. (LEN) is a real estate company specializing in homebuilding, providing real estate related financial services, commercial real estate investments, and investment management. The stock is currently trading around $49.16 at the upper end of its 52 week range of $35.74-$53.67. The stock has been outperforming the market this year rallying by 9.71% year to date. LEN is scheduled to report earnings before the opening bell tomorrow, and the stock is bearish today falling by $0.32 or 0.65% on the session ahead of the close.

Over the past 12 quarters LEN has rallied on earnings day 8 times with an average move of 3.92%. The stock appears bullish on a chart going into the release having broken through the top side of the Ichimoku Cloud in the past week on the daily bar. Over the past 12 quarters LEN has rallied from earnings to the nearest options expiration 8 times with an average move of 4.99%. The stock looks as if it could continue its recent trend and rip to the upside in today’s session. Investors are mainly looking to see how recent reports of improving housing trends will affect sales. Reassuring economic reports have led to steady demand trends in the housing industry and investors look to see these indicators drive earnings and revenues for this quarter.

The options market is currently implying a move of around $2.84 or 5.8% in LEN by this Friday’s close giving us targets of $46.32 and $52.00.

Andrew Keene

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