Lennar Corporation reports results for the quarter ended May 31 - Earnings Summary

• Lennar Corporation LEN.N reported quarterly adjusted earnings of $1.24​​ per share for the quarter ended May 31, lower than the same quarter last year, when the company reported EPS of $1.81. The mean expectation of eighteen analysts for the quarter was for earnings of $1.24 per share. Wall Street expected results to range from $1.19 to $1.36 per share.

• Revenue fell 5.2% to $7.94 billion from a year ago; analysts expected $8.02 billion.

• Lennar Corporation's reported EPS for the quarter was $1.24​.

• The company reported quarterly net income of $304.77 million.

• Lennar Corporation shares had fallen by 11.5% this quarter and lost 22.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 5.9% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy," 8 "hold" and 9 "sell" or "strong sell." The average consensus recommendation for the homebuilding peer group is "buy."

• Wall Street's median 12-month price target for Lennar Corporation is $85.00, about 7.8% above its last closing price of $78.36

This summary was machine generated from LSEG data September 16 at 09:00 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)