Homebuilder company Lennar Corporation (NYSE:LEN) looks to get its stock trading in the right direction with third-quarter results coming Wednesday after market close.
Here are the earnings estimates, what experts are saying and key items to watch.
Lennar Q3 Earnings Estimates
Analysts expect Lennar to report third-quarter revenue of $8.31 billion, down from $8.81 billion in last year’s third quarter, according to data from Benzinga Pro.
The company has missed analyst estimates for revenue in two straight quarters, while beating estimates in six of the last 10 quarters overall.
Analysts expect Lennar to report third-quarter earnings per share of $1.30, down from $2.00 in last year’s third quarter. The company beat analyst estimates in the second quarter, but that came after four straight quarters of missing estimates. Overall, Lennar has beaten analyst estimates for earnings per share in six of the last 10 quarters overall.
What Experts are Saying
Mortgage rates around 7% and high home prices could be bad news for Lennar ahead of earnings, Freedom Capital Markets Chief Market Strategist Jay Woods said in a weekly newsletter.
"Lennar has traded lower after 11 of the last 12 reports with an average loss of -4.66%. This is not a good sign coming into this week’s numbers," Woods said.
The market expert said investors will be watching new orders and incentives to see how home demand is shaping up.
"Can builders keep selling homes in a higher-for-longer rate environment without sacrificing even more profitability?"
Here are recent analyst ratings on Lennar stock and their price targets:
- Bank of America Securities: Maintained Underperform rating, lowered price target from $77 to $70
- Wells Fargo: Maintained Equal-Weight rating, lowered price target from $85 to $80
- StoneX: Initiated with Hold rating, no price target
- Truist: Maintained Hold rating, lowered price target from $90 to $80
Key Items to Watch
Lennar comes into the quarterly results with shares currently trading at 52-week lows and at their lowest levels since December 2022.
As Woods mentioned, the stock has fallen after earnings in recent history. This could mean that expectations have been too high in the past.
With analysts expecting revenue and earnings to fall, Lennar could have an opportunity to post strong financials.
In the second quarter, the company saw new orders down 4% year-over-year and deliveries up 2% year-over-year. These will be key figures watched by investors once again.
Lennar management said the second quarter saw a challenging housing market with elevated mortgage rates and questions on affordability. Those same concerns will likely be there in the third-quarter results, which could lead to commentary being overly bearish going forward.
Berkshire Hathaway CEO Greg Abel and Chairman Warren Buffett will be among the investors checking out the Lennar results. The homebuilder stock was added to the Berkshire Hathaway investment portfolio in the first quarter of 2025, a sizable stake in Class A shares.
Berkshire has since increased its position in Lennar stock and owns both Class A and Class B shares. The positions were increased by 30% and 25% respectively in the second quarter of 2026. Lennar Class A shares are the 18th largest holding in the investment portfolio.
Among homebuilder stocks, Lennar has been Berkshire management’s preference based on investment size. A weak quarter for the company could lead Berkshire to change its holdings going forward.
Lennar Stock Price Action
Lennar stock is down 0.25% to $79.83 on Tuesday versus a 52-week trading range of $76.63 to $139.47. Lennar shares trade at their lowest since December 2022 with the stock down 23% year-to-date in 2026.
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