Core Viewpoint - Lennar Corporation is expected to report its second-quarter fiscal 2024 results, with earnings anticipated to show growth while revenues are projected to increase modestly compared to the previous year [1][2]. Earnings and Revenue Estimates - The Zacks Consensus Estimate for earnings per share is $3.20, reflecting an 8.8% increase from $2.94 in the same quarter last year [2] - Revenue estimates stand at $8.57 billion, indicating a 6.6% growth from $8.05 billion reported a year ago [2]. Sales and Deliveries - Home sales for the fiscal second quarter are expected to rise 6.4% year over year to $8.1 billion, with homebuilding revenues projected at $8.2 billion, also up 6.4% [3]. - The company anticipates home deliveries between 19,000 and 19,500 units, with an average selling price (ASP) of $420,000 to $425,000, down from $449,000 a year ago [3]. - Estimated deliveries for the upcoming quarter are pegged at 19,200 homes, marking a 12.4% increase from 17,074 units last year, with an expected ASP of $423,190 [3]. New Orders and Backlog - New orders are expected to range from 20,900 to 21,300, reflecting an 18.3% growth from 17,885 reported in the second quarter of fiscal 2023 [4]. - The backlog is estimated at 18,220 homes valued at $8.32 billion, compared to 20,214 units or $9.53 billion a year ago [4]. Cost and Margin Expectations - Higher costs for land, labor, and raw materials are anticipated to pressure margins, with homebuilding gross margin expected to remain flat at 22.5% year over year [4]. - Selling, general and administrative (SG&A) expenses as a percentage of home sales are projected to be 7.2%, up from 6.7% in the year-ago quarter [5]. Financial Services Performance - Financial Services operating earnings are expected to be between $110 million and $115 million, with a model prediction of $113.3 million, slightly up from $112.6 million in the previous year [5]. Earnings Prediction Model - The current model does not predict an earnings beat for Lennar, as the company has an Earnings ESP of 0.00% and a Zacks Rank of 3 [6].

Loading...Loading...Lennar Corporation LEN will release earnings results for its second quarter, after the closing bell on Monday.Analysts expect the Miami, Florida-based company to report a quarterly earnings at $3.24 per share, up from $3.01 per share in the year-ago period. Lennar is projected to post quarterly revenue of $8.52 billion, compared to $8.05 billion a year earlier, according to data from Benzinga Pro.On April 10, Lennar declared a quarterly cash dividend of 50 cents per share for both Class ...

Analysts on Wall Street project that Lennar (LEN) will announce quarterly earnings of $3.20 per share in its forthcoming report, representing an increase of 8.8% year over year. Revenues are projected to reach $8.57 billion, increasing 6.6% from the same quarter last year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a company's earnings announ ...

Alistair BergIntroduction Lennar Corporation (NYSE:LEN) is set to report its Q2 earnings on the June 17, after the market closes. I wanted to revisit the company to see how well it performed throughout ’23 and whether it may be a good time to start a position before the company announces the numbers. The latter half of ’23 saw a substantial increase in revenues, fueled by strong demand, however, some economies started to cut interest rates, and the US unemployment figures are starting to creep up, which ...

Core Insights - Quarterra Multifamily, a subsidiary of Lennar Corporation, has launched leasing for Dryden, a luxury high-rise community in Denver's Golden Triangle Neighborhood, combining urban convenience with sophistication [1][8] - Dryden features 420 homes and 9,241 square feet of retail space, promoting a healthy lifestyle amidst a vibrant metropolitan environment [2][8] Group 1: Community Features - Dryden offers a mix of studio, one- and two-bedroom apartments, and penthouses, ranging from 462 to 1,458 square feet, with modern amenities including smart home technologies and luxury finishes [6][7] - The community includes extensive amenities such as a rooftop lounge, wellness spa, fitness center, and co-working spaces, catering to both relaxation and productivity [7][8] Group 2: Location and Accessibility - Located at 1100 Bannock St., Dryden is strategically positioned near key cultural and recreational sites, including restaurants, art venues, and sports stadiums, enhancing its appeal to residents [5][6] - The community provides easy access to major thoroughfares and public transportation, facilitating connectivity to the broader Denver metro area and beyond [5][6] Group 3: Developer Background - Quarterra Multifamily, previously known as LMC, is recognized as one of the nation's most active developers and has been on the National Multi-Housing Council's Top 50 list for nine consecutive years [9]

Company Performance - Lennar (LEN) closed at $159.37, with a daily increase of +1.05%, which was lower than the S&P 500's gain of 1.19% [1] - The stock has decreased by 2.1% over the past month, underperforming the Construction sector's loss of 1.84% and the S&P 500's gain of 3.35% [1] - The upcoming earnings report is scheduled for June 17, 2024, with expected EPS of $3.20, reflecting an 8.84% increase year-over-year, and revenue forecasted at $8.54 billion, up 6.16% from the prior year [1] Earnings Estimates - Full-year Zacks Consensus Estimates predict earnings of $14.46 per share and revenue of $35.78 billion, indicating year-over-year changes of +1.47% and +4.51%, respectively [2] - Recent revisions to analyst forecasts are crucial as they indicate changing business trends, with upward revisions suggesting positive sentiment towards the company's operations [2] Valuation Metrics - Lennar has a Zacks Rank of 3 (Hold), with no changes in the Zacks Consensus EPS estimate over the past month [3] - The company is trading at a Forward P/E ratio of 10.91, which is a premium compared to the industry average of 8.51 [3] - The PEG ratio for Lennar is currently 1.47, compared to the Building Products - Home Builders industry's average PEG ratio of 0.83 [3] Industry Overview - The Building Products - Home Builders industry is part of the Construction sector and holds a Zacks Industry Rank of 26, placing it in the top 11% of over 250 industries [4] - The Zacks Industry Rank measures the strength of industry groups based on the average Zacks Rank of individual stocks, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [4]

MIAMI, June 4, 2024 /PRNewswire/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today that the Company will release earnings for the second quarter ended May 31, 2024 after the market closes on June 17, 2024. Additionally, the Company will hold a conference call on June 18, 2024 at 11:00 a.m. Eastern Time. The call will be broadcast live on the Internet and can be accessed through Lennar's website at investors.lennar.com. If you are unable to participate dur ...

Quarterra's newest Northern California community to feature 260 one- and two-bedroom apartment homes SANTA ROSA, Calif., June 4, 2024 /PRNewswire/ -- Quarterra Multifamily, a subsidiary of Lennar Corporation and a vertically integrated multifamily apartment builder, developer, and property manager, today announced the start of construction at Renata, Quarterra's first community in Santa Rosa, California.  Renata, will be a 260-apartment home garden-style community, and sit within the Perennial Park master-p ...

Core Viewpoint - Lennar's stock performance has shown resilience with a +1.93% increase, outperforming major indices like the S&P 500, Dow, and Nasdaq [1] Group 1: Company Performance - Lennar's shares gained 1.04% over the past month, while the Construction sector declined by 0.86% [1] - The upcoming earnings disclosure is anticipated to show an EPS of $3.20, reflecting an 8.84% increase year-over-year, and projected net sales of $8.54 billion, up 6.16% from the previous year [1] - For the annual period, earnings are expected to be $14.46 per share and revenue at $35.78 billion, indicating increases of +1.47% and +4.51% respectively [1] Group 2: Analyst Estimates - Recent adjustments to analyst estimates for Lennar indicate a positive outlook on the company's business operations [2] - The Zacks Rank system, which evaluates these estimate changes, currently ranks Lennar at 3 (Hold) [2] Group 3: Valuation Metrics - Lennar has a Forward P/E ratio of 10.66, which is higher than the industry average of 8.6 [3] - The company has a PEG ratio of 1.44, compared to the industry average of 0.77, indicating a premium valuation relative to expected earnings growth [3] - The Building Products - Home Builders industry, which includes Lennar, holds a Zacks Industry Rank of 18, placing it in the top 8% of over 250 industries [3]

Core Insights - Zacks Premium provides tools for investors to enhance their stock market engagement and confidence through various resources like daily updates, research reports, and stock screens [1] Zacks Style Scores - Zacks Style Scores are indicators designed to help investors select stocks likely to outperform the market within 30 days, rated from A to F based on value, growth, and momentum characteristics [2] - The Value Score focuses on identifying undervalued stocks using ratios such as P/E, PEG, and Price/Sales to highlight attractive investment opportunities [2] - The Growth Score evaluates a company's future prospects by analyzing projected and historical earnings, sales, and cash flow to identify sustainable growth stocks [3] - The Momentum Score identifies optimal times to invest based on price trends and earnings estimate changes, emphasizing the importance of market trends [3] - The VGM Score combines all three Style Scores, providing a comprehensive indicator for investors seeking a balanced approach to value, growth, and momentum [4] Zacks Rank - The Zacks Rank is a proprietary model that utilizes earnings estimate revisions to assist investors in building successful portfolios, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [5] - Investors are encouraged to select stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B to maximize potential success [6] Company Spotlight: Lennar Corporation (LEN) - Lennar Corporation, established in 1954 and based in Miami, FL, operates in homebuilding and financial services, with segments including Homebuilding and Lennar Financial Services [7] - Currently rated 3 (Hold) by Zacks, LEN has a VGM Score of B and a Value Style Score of B, supported by a forward P/E ratio of 11.21, indicating attractive valuation metrics [7] - Recent upward revisions in earnings estimates by four analysts have increased the Zacks Consensus Estimate by $0.29 to $14.46 per share, with an average earnings surprise of 16.8% [7]