Housing

Earnings Preview: Lennar (June 2007) (LEN, XHB, ITB)

Lennar Corp. (LEN-NYSE) reports earnings on Tuesday.  The company is expected to post a sharp drop-off after the company had already withdrawn guidance.  FirstCall has estimates at $0.05 EPS on very wide range with many expecting losses or gains; and the last revenue expectations seen were $2.575 Billion.

Unfortunately we have no real guidance out of the company and the sector itself is in disarray.  Finding a bull for the group right now would be difficult, and if you found him he’d probably answer to the name Dr. Pangloss.  About the only good news right now is that a contrarian can make a fortune IF he is right, and there has been so much negative news in the sector that any news that isn’t ghastly could get a "Less Bad Equals Good" reaction.

Shares of Lennar closed down 2.5% at $38.75 today and shares closed out 2006 at $52.11.  The SPDR Homebuilders ETF (XHB) closed down 1.89% and the iShares Homebuilders (ITB) closed down 1.8%.

Jon C. Ogg
June 25, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.