Lennar Corporation (LEN - Free Report) is one of the leading homebuilders in the U.S. With overall housing market recovering at a slow but steady pace, Lennar’s order trends have been improving at a consistent pace.
Lennar is performing well on the back of its diverse revenue mix, large land supply, above average order growth and better pricing power. Moreover, Lennar’s ancillary platforms — Rialto, Multi-Family, FivePoint and Financial Services — are evolving and are expected to contribute meaningfully in the near future.
Investors should also note that 2017 earnings estimate for LEN has moved down in the past 30 days. Meanwhile, LEN has been posting positive earnings surprise for the past four quarters in a row, with an average surprise of 11.55%.
Currently, LEN has a Zacks Rank #3 (Hold), but that could definitely change following its earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: LEN beat on earnings. Our consensus earnings estimate called for EPS of $1.01 per share, and the company reported adjusted EPS of $1.06 instead.
Revenues: LEN reported revenues of $3.26 billion. This surpassed our consensus estimate of $3.22 billion.
Key Stats to Note: New Order units increased 8% in the quarter.
Check back later for our full write up on this LEN earnings report later.
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