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Why Lennar (LEN) Dipped More Than Broader Market Today
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In the latest trading session, Lennar (LEN - Free Report) closed at $155.47, marking a -1.7% move from the previous day. This change lagged the S&P 500's 0.54% loss on the day. Meanwhile, the Dow lost 0.53%, and the Nasdaq, a tech-heavy index, lost 0.66%.
The the stock of homebuilder has fallen by 4.91% in the past month, lagging the Construction sector's loss of 3.56% and the S&P 500's gain of 1.5%.
The investment community will be closely monitoring the performance of Lennar in its forthcoming earnings report. The company is scheduled to release its earnings on December 18, 2024. The company's earnings per share (EPS) are projected to be $4.18, reflecting a 19.15% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $10.16 billion, down 7.4% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Lennar. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Lennar currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Lennar is at present trading with a Forward P/E ratio of 9.86. For comparison, its industry has an average Forward P/E of 9.02, which means Lennar is trading at a premium to the group.
Also, we should mention that LEN has a PEG ratio of 1.31. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Home Builders industry currently had an average PEG ratio of 0.69 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 144, positioning it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Why Lennar (LEN) Dipped More Than Broader Market Today
In the latest trading session, Lennar (LEN - Free Report) closed at $155.47, marking a -1.7% move from the previous day. This change lagged the S&P 500's 0.54% loss on the day. Meanwhile, the Dow lost 0.53%, and the Nasdaq, a tech-heavy index, lost 0.66%.
The the stock of homebuilder has fallen by 4.91% in the past month, lagging the Construction sector's loss of 3.56% and the S&P 500's gain of 1.5%.
The investment community will be closely monitoring the performance of Lennar in its forthcoming earnings report. The company is scheduled to release its earnings on December 18, 2024. The company's earnings per share (EPS) are projected to be $4.18, reflecting a 19.15% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $10.16 billion, down 7.4% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Lennar. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Lennar currently has a Zacks Rank of #3 (Hold).
In the context of valuation, Lennar is at present trading with a Forward P/E ratio of 9.86. For comparison, its industry has an average Forward P/E of 9.02, which means Lennar is trading at a premium to the group.
Also, we should mention that LEN has a PEG ratio of 1.31. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Building Products - Home Builders industry currently had an average PEG ratio of 0.69 as of yesterday's close.
The Building Products - Home Builders industry is part of the Construction sector. Currently, this industry holds a Zacks Industry Rank of 144, positioning it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.