Positive Quarterly Results, New Contracts and Expansion of Product Portfolio: Good News for the Housing Market - Research Report on Lennar, Fluor, Hovnanian, Lindsay, and Toro Editor Note: For more information about this release, please scroll to bottom.
NEW YORK, July 1, 2013 /PRNewswire/ --
Today, Wall Street Reports announced new research reports highlighting Lennar Corporation (NYSE: LEN), Fluor Corporation (NYSE: FLR), Hovnanian Enterprises, Inc. (NYSE: HOV), Lindsay Corporation (NYSE: LNN), and The Toro Company (NYSE: TTC). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Lennar Corporation Research Report
On June 25, 2013, Lennar Corporation (Lennar) announced financial results for Q2 FY 2013 (ended May 31, 2013). Revenues were up 53.3% YoY to $1.4 billion, with 39% increase in deliveries of homes and 27% increase in new orders. The Company's Q2 FY 2013 net earnings were $137.4 million, or $0.61 per diluted share, compared with Q2 FY 2012 net earnings of $452.7 million, or $2.06 per diluted share. "Against the backdrop of recent investor concerns over mortgage rate increases, we believe that our second quarter results together with real time feedback from our field associates continue to point towards a solid, housing recovery," said Stuart Miller, CEO of Lennar. "Our second quarter results reflect significant improvement in all of our key homebuilding and financial services metrics. Demand in all of our markets continues to outspace supply which is constrained by limited land availability and fewer competing homebuilders. At the same time, affordability remains high and despite recent interest rate increases, we have seen very little impact on sales or pricing." The Full Research Report on Lennar Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/c72d_LEN]
Fluor Corporation Research Report
On June 25, 2013, Fluor Corporation (Fluor) announced that the Company was awarded a contract by Sasol Technology Ltd. (Sasol Technology) to perform basic engineering services for the Natref Clean Fuels 2 Project in Sasolburg, South Africa. "This new contract further demonstrates Fluor's strong position in the global clean fuels project development arena and our ability to deliver world-class work across Africa," said Peter Oosterveer, President of the Energy & Chemicals Group at Fluor. One of the key aims of the basic engineering phase is to perform detailed up-front planning and to develop a viable and cost-effective project execution strategy to safely drive the efficient delivery of the project within the approved budget, schedule, and specification. The Full Research Report on Fluor Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/e29a_FLR]
Hovnanian Enterprises, Inc. Research Report
On June 5, 2013, Hovnanian Enterprises, Inc. (Hovnanian) announced financial results for Q2 FY 2013 (ended April 30, 2013). The Company generated revenues of $423 million, representing an increase of 23.8% YoY. "Throughout the spring selling season, our communities experienced strong demand for new homes. We reported 10.3 contracts per active selling community for the second quarter of fiscal 2013, which is the highest net contracts per community we have reported for any quarter since the fourth quarter of 2005," said Ara K. Hovnanian, Chairman of the Board, President, and CEO of Hovnanian. "The combination of our improved homebuilding gross margin, improving sales pace, and the resultant operating leverage that we have gained on our interest and SG&A costs, further increases our confidence that we should be profitable for fiscal 2013, assuming that market conditions remain stable and excluding any expenses related to early retirement debt." The Full Research Report on Hovnanian Enterprises, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/b542_HOV]
Lindsay Corporation Research Report
On June 24, 2013, Lindsay Corporation (Lindsay) announced the addition of soil moisture monitoring and a weather station to its product line, Growsmart. The plug-and-play add-ons use a wireless connection to report relevant weather and soil water data from the field to a secure customer account on the web. Reece Andrews, New Technology Product Manager at Lindsay, said that the Growsmart sensors are designed to provide growers information that enhances irrigation management using the FieldNET's management tools, which allow growers to remotely monitor and control their entire irrigation system. The weather station, on the other hand, includes sensors for wind speed and direction, solar radiation, air temperature, humidity, precipitation, and calculated evapotranspiration. "The new soil moisture station and weather station are designed for quick access to field feedback that can result in better overall irrigation management and improved crop yield and quality," added Andrews. The Full Research Report on Lindsay Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/9573_LNN]
The Toro Company Research Report
On June 10, 2013, The Toro Company (Toro) announced its participation in the Professional Landcare Network's (PLANET) 17th Annual Renewal and Remembrance landscaping event to be held at Arlington National Cemetery in Virginia on July 22, 2013. The event is considered by the Company to be the largest green industry day of service in the US. Toro stated that this marks the second consecutive year where Toro and its distributor Turf Equipment & Supply Company will provide PLANET with Toro stand-on aerators and volunteers to help restore the cemetery grounds. The Company claims that its 30-inch stand-on aerators are designed for high productivity and are compact enough to go almost anywhere. The Full Research Report on The Toro Company - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/0a30_TTC]
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SOURCE Wall Street Reports