Lennar drops on quarterly delivery forecast miss, weak demand outlook

Shares of homebuilder Lennar LEN.N fall 2.7% premarket after disappointing Q4 forecast

Posts Q3 EPS of $2.29 vs $4.26 year ago; expects Q4 deliveries of 22,000-23,000 units vs analyst estimates above 25,000, according to data compiled by LSEG

Elevated interest rates, affordability challenges have pressured U.S. homebuilders' profitability in recent quarters

We think the housing markets challenges go far beyond that of just LEN's inventory, and investors should see builders being forced into this by slow demand - Barclays

Avg rating of 20 analysts is "hold;" median PT is $130 - data compiled by LSEG

Stock last close at $132.87

LEN stock marginally up 0.7% YTD