Wall Street analysts forecast that Lennar (LEN) will report quarterly earnings of $2.12 per share in its upcoming release, pointing to a year-over-year decline of 45.6%. It is anticipated that revenues will amount to $9.04 billion, exhibiting a decrease of 4% compared to the year-ago quarter.
Over the last 30 days, there has been a downward revision of 0.6% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific Lennar metrics that are commonly monitored and projected by Wall Street analysts.
Analysts' assessment points toward 'Revenue- Financial Services' reaching $285.03 million. The estimate points to a change of +4.3% from the year-ago quarter.
The consensus estimate for 'Revenue- Homebuilding- Sales of homes' stands at $8.59 billion. The estimate suggests a change of -4.8% year over year.
Analysts predict that the 'Revenue- Homebuilding- Sales of land' will reach $19.62 million. The estimate suggests a change of +0.8% year over year.
According to the collective judgment of analysts, 'Revenue- Multifamily' should come in at $120.27 million. The estimate indicates a change of +28.7% from the prior-year quarter.
Analysts expect 'Deliveries - Average sales price - Total' to come in at $381.82 . The estimate compares to the year-ago value of $422.00 .
The combined assessment of analysts suggests that 'Active Communities - Total' will likely reach 1,613 . The estimate is in contrast to the year-ago figure of 1,283 .
The collective assessment of analysts points to an estimated 'Backlog - Homes' of 15,522 . The estimate compares to the year-ago value of 16,944 .
Based on the collective assessment of analysts, 'Deliveries - Homes' should arrive at 22,546 . The estimate is in contrast to the year-ago figure of 21,516 .
The average prediction of analysts places 'New orders - Homes' at 22,504 . Compared to the current estimate, the company reported 20,587 in the same quarter of the previous year.
Analysts forecast 'New orders - Average sales price - Total' to reach $379.14 . Compared to the current estimate, the company reported $416.00 in the same quarter of the previous year.
The consensus among analysts is that 'Deliveries - Dollar Value - Total' will reach $8.60 billion. The estimate is in contrast to the year-ago figure of $9.07 billion.
It is projected by analysts that the 'Backlog - Average sales price - Total' will reach $418.71 . Compared to the current estimate, the company reported $457.00 in the same quarter of the previous year.
View all Key Company Metrics for Lennar here>>>
Over the past month, Lennar shares have recorded returns of +4% versus the Zacks S&P 500 composite's +2.3% change. Based on its Zacks Rank #3 (Hold), LEN will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Lennar Corporation (LEN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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