Lennar Corp Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Lennar Corporation (NYSE:LEN) will unveil its latest earnings on Monday, September 24, 2012. Lennar builds affordable move-up and retirement homes primarily under the Lennar brand name throughout the United States.

Lennar Corporation Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 28 cents per share, a rise of more than twofold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 26 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 28 cents during the last month. Analysts are projecting profit to rise by 487.5% compared to last year’s $2.82.

Past Earnings Performance: Last quarter, the company beat estimates by 5 cents, coming in at profit of 22 cents per share against an estimate of net income of. The company also topped expectations in the first quarter.

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A Look Back: In the second quarter, profit rose 3184% to $452.7 million ($2.06 a share) from $13.8 million (7 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 21.7% to $930.2 million from $764.5 million.

Stock Price Performance: Between June 22, 2012 and September 18, 2012, the stock price rose $9.22 (35%), from $26.37 to $35.59. The stock price saw one of its best stretches over the last year between June 21, 2012 and July 2, 2012, when shares rose for eight straight days, increasing 19.2% (+$5.01) over that span. It saw one of its worst periods between February 13, 2012 and February 22, 2012 when shares fell for seven straight days, dropping 7.8% (-$1.87) over that span.

Wall St. Revenue Expectations: Analysts predict a rise of 28% in revenue from the year-earlier quarter to $1.05 billion.

Analyst Ratings: With seven analysts rating the stock as a buy, one rating it as a sell and eight rating it as a hold, there are indications of a bullish outlook.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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