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Is Lennar (LEN) A Buy Heading into Q1 Earnings Announcement?
Popular homebuilder Lennar (LEN - Free Report) is set to report fiscal first-quarter earnings results on Tuesday after the close. Lennar, a Zacks Rank #3 (Hold), has exceeded the earnings mark in each of the last four quarters. But with markets volatile heading into the announcement, is LEN a buy?
Lennar is expected to post a profit of $1.56/share, which would reflect negative growth of -42.2% versus the same quarter last year. Estimates for the quarter have declined -1.89% over the past 30 days. Sales are projected to fall -3.2% to $6 billion.
LEN has exceeded the earnings mark in each of the past four quarters, with an average beat of 8.36% over that timeframe. Lennar is part of the Zacks Building Products – Home Builders industry, which currently ranks in the top 41% of all Zacks ranked Industries.
LEN is a Zacks Rank #3 (Hold) stock. Housing headwinds still present a major challenge for Lennar.