NEW YORK (TheStreet) --Shares of Lennar Corp. (LEN) are higher by 5.27% to $51.58 in pre-market trading on Wednesday, after the home builder released its 2015 second quarter earnings results, which came in above analysts' expectations for the period.
TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio had this to say about Lennar Corp., "They continue to be the best in the biz and Stuart Miller is the best operator. It is the crucial stock and must be watched closely because it has reversed at times after starting higher."
For the most recent quarter Lennar posted net earnings of 79 cents per diluted share, topping the 64 cents per share analysts polled by Thomson Reuters had forecast.
Last year, Lennar said it earned 61 cents per share for the 2014 second quarter.
Revenue for the latest quarter grew by 32% year-over-year to $2.4 billion. Analysts had anticipated revenue of $2.02 billion for the period.
"The homebuilding market continued its steady improvement throughout our second quarter. Driven by higher wages and employment, reasonable affordability levels, supply shortages and favorable monthly payment comparisons to rentals, the homebuilding market is well positioned for multi-year growth ahead," Lennar CEO Stuart Miller said in a statement.
Separately, TheStreet Ratings team rates LENNAR CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate LENNAR CORP (LEN) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, reasonable valuation levels and compelling growth in net income. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."