Wall Street analysts forecast that Lennar (LEN) will report quarterly earnings of $0.96 per share in its upcoming release, pointing to a year-over-year decline of 55.1%. It is anticipated that revenues will amount to $6.83 billion, exhibiting a decrease of 10.5% compared to the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield 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 $257.36 million. The estimate indicates a change of -7.1% from the prior-year quarter.
The consensus among analysts is that 'Revenue- Homebuilding- Sales of homes' will reach $6.49 billion. The estimate suggests a change of -10.3% year over year.
Analysts' assessment points toward 'Revenue- Multifamily' reaching $103.08 million. The estimate indicates a change of +63.1% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenue- Homebuilding' should come in at $6.53 billion. The estimate points to a change of -10.3% from the year-ago quarter.
The combined assessment of analysts suggests that 'Deliveries - Average sales price - Total' will likely reach $369.66 . The estimate is in contrast to the year-ago figure of $408.00 .
Analysts forecast 'Active Communities - Total' to reach 1,784 . The estimate is in contrast to the year-ago figure of 1,584 .
Based on the collective assessment of analysts, 'Backlog - Homes' should arrive at 14,938 . Compared to the present estimate, the company reported 13,145 in the same quarter last year.
It is projected by analysts that the 'Deliveries - Homes' will reach 17,571 . Compared to the present estimate, the company reported 17,834 in the same quarter last year.
The consensus estimate for 'New orders - Homes' stands at 18,572 . Compared to the present estimate, the company reported 18,355 in the same quarter last year.
The collective assessment of analysts points to an estimated 'New orders - Average sales price - Total' of $373.03 . Compared to the current estimate, the company reported $405.00 in the same quarter of the previous year.
Analysts expect 'Deliveries - Dollar Value - Total' to come in at $6.49 billion. Compared to the current estimate, the company reported $7.28 billion in the same quarter of the previous year.
Analysts predict that the 'Backlog - Average sales price - Total' will reach $382.22 . Compared to the present estimate, the company reported $439.00 in the same quarter last year.
View all Key Company Metrics for Lennar here>>>
Over the past month, Lennar shares have recorded returns of -11.3% versus the Zacks S&P 500 composite's -2.7% change. Based on its Zacks Rank #4 (Sell), LEN will likely underperform 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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