LGI Homes Inc (NASDAQ:LGIH) Expected to Post Earnings of $2.22 Per Share

Wall Street brokerages expect LGI Homes Inc (NASDAQ:LGIH) to report earnings per share of $2.22 for the current quarter, Zacks reports. Three analysts have provided estimates for LGI Homes’ earnings, with the lowest EPS estimate coming in at $2.12 and the highest estimate coming in at $2.32. LGI Homes reported earnings per share of $1.72 in the same quarter last year, which suggests a positive year-over-year growth rate of 29.1%. The firm is expected to issue its next quarterly earnings report on Tuesday, February 25th.

According to Zacks, analysts expect that LGI Homes will report full-year earnings of $6.72 per share for the current fiscal year, with EPS estimates ranging from $6.61 to $6.82. For the next year, analysts forecast that the business will post earnings of $7.66 per share, with EPS estimates ranging from $7.63 to $7.68. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for LGI Homes.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.89 by $0.04. LGI Homes had a net margin of 9.43% and a return on equity of 22.07%. The company had revenue of $483.10 million for the quarter, compared to analyst estimates of $486.83 million. During the same period in the prior year, the firm posted $1.52 EPS. The company’s quarterly revenue was up 27.0% on a year-over-year basis.

A number of brokerages have commented on LGIH. Zacks Investment Research raised shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered LGI Homes from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $77.00 to $84.50 in a research report on Wednesday, September 11th. ValuEngine raised LGI Homes from a “strong sell” rating to a “sell” rating in a research note on Friday, November 29th. BTIG Research boosted their price objective on LGI Homes from $62.00 to $65.00 and gave the company a “sell” rating in a research note on Monday, September 23rd. Finally, BidaskClub lowered LGI Homes from a “hold” rating to a “sell” rating in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $83.30.

In related news, Director Bryan Christopher Sansbury sold 9,200 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $72.00, for a total transaction of $662,400.00. Following the transaction, the director now owns 17,353 shares in the company, valued at approximately $1,249,416. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 13.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in LGI Homes in the third quarter worth approximately $25,000. US Bancorp DE raised its position in shares of LGI Homes by 1,332.6% during the second quarter. US Bancorp DE now owns 659 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 613 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of LGI Homes by 21.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,187 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 206 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of LGI Homes by 379.4% in the 2nd quarter. Bank of Montreal Can now owns 2,114 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 1,673 shares in the last quarter. Finally, Psagot Investment House Ltd. bought a new position in shares of LGI Homes in the 2nd quarter worth $186,000. 96.55% of the stock is currently owned by institutional investors.

LGIH stock traded up $2.17 during midday trading on Thursday, hitting $74.67. The stock had a trading volume of 306,821 shares, compared to its average volume of 285,247. The firm has a market cap of $1.71 billion, a P/E ratio of 11.76 and a beta of 0.48. The company has a current ratio of 14.90, a quick ratio of 1.16 and a debt-to-equity ratio of 0.97. LGI Homes has a 1-year low of $40.29 and a 1-year high of $89.00. The business has a fifty day moving average price of $76.07 and a two-hundred day moving average price of $75.72.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

Read More: Bid-Ask Spread

Get a free copy of the Zacks research report on LGI Homes (LGIH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for LGI Homes (NASDAQ:LGIH)

Receive News & Ratings for LGI Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit