Lennar Corp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Lennar Corp (NYSE:LEN) will unveil its latest earnings on Thursday, June 23, 2011. Lennar Corp. builds affordable, move-up and retirement homes primarily under the Lennar brand name throughout the United States.

Lennar Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst is estimating net income of 4 cents per share, a decline of 81% from the same quarter a year ago. Estimates range from net loss of 10 cents per share to profit of 15 cents per share. Over the past three months, the consensus estimate has moved down from 12 cents. Over the past month, the consensus estimate has moved down from 5 cents. For the year, analysts are projecting net income of 58 cents per share, a rise of 13.7% from last year.

Past Earnings Performance: The company fell in line with estimates last quarter after beating the forecasts in the prior two. Two quarters ago, the company beat estimates by 14 cents.

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Wall St. Revenue Expectations: On average, analysts predict $643.1 million in revenue this quarter, a decline of 21% from the year ago quarter. Analysts are forecasting total revenue of $2.87 billion for the year, from last year’s revenue of $3.07 billion.

Analyst Ratings: Analysts are bullish on this stock with 10 analysts rating it as a buy and none rating it as a sell.

Key Stats:

Revenue has fallen in the past two quarters. In first quarter of the last fiscal year, revenue declined 2.9% to $558 million from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 5.9%.

Competitors to Watch: PulteGroup, Inc. (NYSE:PHM), KB Home (NYSE:KBH), D.R. Horton, Inc. (NYSE:DHI), Standard Pacific Corp. (NYSE:SPF), Meritage Homes Corporation (NYSE:MTH), Toll Brothers, Inc. (NYSE:TOL), M.D.C. Holdings, Inc. (NYSE:MDC), The Ryland Group, Inc. (NYSE:RYL), Home Depot (NYSE:HD), Lowe’s (NYSE:LOW) and Comstock Homebuilding Companies, Inc. (NASDAQ:CHCI).

Recent Price Movement: Over the past three months, the stock price has fallen $2.79 (-14.3%) from $19.48 on March 22, 2011 to $16.69 on June 10, 2011. The stock price saw one of its best stretches over the last year between November 30, 2010 and December 8, 2010 when shares rose for seven-straight days, rising 15.5% (+$2.35) over that span. It saw one of its worst periods between June 1, 2011 and June 8, 2011 when shares fell for six-straight days, falling 9.5% (-$1.77) over that span. Shares are down $1.98 (-10.6%) year to date.

(Source: Xignite Financials)

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