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Is Lennar (LEN) a 'Buy' Ahead of Its Upcoming Earnings Announcement?
Lennar, one of the largest homebuilders in the United States, is set to report fiscal third-quarter earnings results on Thursday after the closing bell. A Zacks Rank #3 (Hold), Lennar has missed the earnings mark in two of the past four quarters. But with homebuilder stocks rallying lately on upcoming rate cuts, is LEN a buy prior to the release?
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Analysts are expecting the company to post a profit of $2.12 per share, reflecting negative growth of -45.6% versus the same quarter last year. Sales are projected to have declined 4% to $9 billion during the quarter.
Lennar (LEN - Free Report) has evolved from a traditional homebuilder into a tech-enabled manufacturing platform. The company aims to unlock scalable efficiencies and modernize its operating model.
Still, ongoing pressures on margins and housing affordability remain key concerns. Despite a recent rally, Lennar shares are roughly flat this year and are underperforming the major indexes. Investors would be wise to exercise caution ahead of the upcoming announcement.