Lennar (LEN) Could Be 9% Undervalued As Weak Q3 Misses Stir Valuation Questions

Lennar (LEN) just reported a softer third quarter, with profit and revenue missing expectations as high mortgage rates and weaker confidence pressured housing demand and triggered another cut to full year delivery guidance. The earnings disappointment and guidance cut have already hit sentiment hard. Lennar’s share price is down about 12% over the past month and roughly 27% year to date, while the 1 year total shareholder return has fallen about 39%, signalling that investors are treating...