12:03 PM EST, 03/05/2024 (MT Newswires) -- Lennar's ( LEN ) volume strategy is expected to help the company report better-than-projected fiscal Q1 orders, Wedbush Securities said Tuesday.

The homebuilder is scheduled to report fiscal Q1 financial results on March 13. Wedbush projects earnings at $2.16 per share, with revenue seen jumping nearly 17% year-over-year to about $7.49 billion. The consensus estimate on Thomson Reuters is for $2.20 and $7.39 billion, respectively, according to the brokerage.

Wedbush sees orders growing 26% year-over-year to 17,884 units, compared with the consensus for 17,621.

"As part of the F4Q23 prepared comments, Lennar ( LEN ) laid out several reasons supporting the volume over margin strategy," Wedbush analysts Jay McCanless and Brian Violino said in a note.

The brokerage reiterated its neutral rating on the Lennar ( LEN ) stock, with a $130 price target.

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