02:59 PM EDT, 03/17/2025 (MT Newswires) -- Lennar's ( LEN ) fiscal Q1 earnings could be below consensus estimates as mortgage rate volatility likely had a negative impact, Wedbush said in an earnings preview Monday.

In the company's earnings release set for Thursday, Wedbush analysts expect earnings of $1.70 per share, compared with the consensus estimate of $1.75. This estimate does not take into account the recent spinoff of Lennar's ( LEN ) land assets into a real estate investment trust called Millrose, the analysts noted.

The analysts said they expected a year-over-year decline in the company's orders of 2%, which in line with consensus. The brokerage will also looking for insight during the earnings call Friday on the trends mentioned by Lennar's ( LEN ) competitors of low customer traffic and soft demand in December and January, and a rebound in February and March.

Wedbush reiterated its neutral stock rating for Lennar ( LEN ) with a price target of $158.

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