Homebuilder Lennar (NYSE:LEN) will be announcing earnings results today afternoon. Here’s what investors should know.
Lennar missed analysts’ revenue expectations by 1.9% last quarter, reporting revenues of $9.95 billion, down 9.3% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ adjusted operating income.
Is Lennar a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Lennar’s revenue to grow 2.3% year on year to $7.48 billion, slowing from the 12.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.71 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lennar has missed Wall Street’s revenue estimates twice over the last two years.
With Lennar being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for industrials stocks. However, the whole sector has faced a sell-off over the last month with stocks in Lennar’s peer group down 7.9% on average. Lennar’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $151.54 (compared to the current share price of $121.04).
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