Yet, even a 15% increase in net earnings per share failed toinspire investor confidence Thursday, as the publicly traded commonstock in Lennar closed down $3.15 a share at $33.15 on volume of1.6 million.

Already affected by continued weakness in the national economy,Lennar shares joined many other publicly traded stocks on adownward trend this week in the aftermath of the Sept. 11 terroristattack. Since closing at a recent high of $45.09 on Sept. 4, theissue has fallen $11.94 as of the close of markets on Thursday.

Still, the Miami-based homebuilder exceeded a Thomson/First Callthird-quarter consensus estimate of $1.33 per share by 20 cents.And the company expressed confidence in meeting the yearendconsensus forecast of $5.49 a share.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.