The upcoming report from Lennar (LEN) is expected to reveal quarterly earnings of $2.23 per share, indicating a decline of 44.7% compared to the year-ago period. Analysts forecast revenues of $9.13 billion, representing a decline of 8.3% year over year.
The consensus EPS estimate for the quarter has undergone an upward revision of 4.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Lennar metrics that Wall Street analysts commonly model and monitor.
The average prediction of analysts places 'Revenue- Financial Services' at $313.21 million. The estimate indicates a change of +2.8% from the prior-year quarter.
Analysts expect 'Revenue- Homebuilding- Sales of homes' to come in at $8.76 billion. The estimate points to a change of -7.8% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Revenue- Homebuilding- Sales of land' of $28.56 million. The estimate points to a change of -27.8% from the year-ago quarter.
The consensus estimate for 'Revenue- Multifamily' stands at $158.92 million. The estimate points to a change of +78.7% from the year-ago quarter.
According to the collective judgment of analysts, 'Deliveries - Average sales price - Total' should come in at $385.77 . Compared to the current estimate, the company reported $430.00 in the same quarter of the previous year.
Based on the collective assessment of analysts, 'New orders - Homes' should arrive at 20,431 . The estimate is in contrast to the year-ago figure of 16,895 .
The combined assessment of analysts suggests that 'Deliveries - Homes' will likely reach 21,855 . The estimate compares to the year-ago value of 22,206 .
Analysts forecast 'Active Communities - Total' to reach 1,714 . Compared to the present estimate, the company reported 1,447 in the same quarter last year.
Analysts predict that the 'Backlog - Homes' will reach 15,022 . The estimate compares to the year-ago value of 11,633 .
It is projected by analysts that the 'Backlog - Average sales price - Total' will reach $390.76 . Compared to the current estimate, the company reported $462.00 in the same quarter of the previous year.
The consensus among analysts is that 'Backlog - Dollar Value - Total' will reach $5.88 billion. Compared to the present estimate, the company reported $5.37 billion in the same quarter last year.
Analysts' assessment points toward 'New orders - Dollar Value - Total' reaching $7.76 billion. The estimate is in contrast to the year-ago figure of $7.18 billion.
View all Key Company Metrics for Lennar here>>>
Shares of Lennar have experienced a change of -3.3% in the past month compared to the +0.9% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), LEN is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Lennar Corporation (LEN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
