Landsea Homes (NASDAQ:LSEA) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Landsea Homes (NASDAQ:LSEA) issued its earnings results on Wednesday. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07), Zacks reports. The firm had revenue of $294.04 million during the quarter, compared to the consensus estimate of $277.30 million. Landsea Homes had a return on equity of 6.80% and a net margin of 2.42%. During the same quarter in the prior year, the business posted $0.18 EPS.

Landsea Homes Price Performance

Shares of LSEA traded down $0.29 during mid-day trading on Thursday, hitting $9.86. 250,551 shares of the stock were exchanged, compared to its average volume of 215,420. The company has a market cap of $356.44 million, a PE ratio of 12.83 and a beta of 1.11. Landsea Homes has a 52-week low of $7.00 and a 52-week high of $14.91. The firm has a 50-day moving average of $12.49 and a two-hundred day moving average of $11.52. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37.

Analyst Upgrades and Downgrades

Several brokerages have commented on LSEA. Barclays lowered their price objective on Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating for the company in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Landsea Homes in a research report on Wednesday.

Insider Transactions at Landsea Homes

In other Landsea Homes news, COO Michael Forsum bought 17,241 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was acquired at an average cost of $11.60 per share, for a total transaction of $199,995.60. Following the completion of the transaction, the chief operating officer now owns 446,682 shares in the company, valued at $5,181,511.20. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, COO Michael Forsum bought 17,241 shares of the business’s stock in a transaction on Friday, March 8th. The shares were bought at an average price of $11.60 per share, for a total transaction of $199,995.60. Following the completion of the purchase, the chief operating officer now directly owns 446,682 shares of the company’s stock, valued at $5,181,511.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $11.60, for a total value of $32,480,000.00. Following the sale, the insider now owns 16,940,729 shares in the company, valued at approximately $196,512,456.40. The disclosure for this sale can be found here. Insiders have bought 20,430 shares of company stock valued at $236,988 in the last ninety days. Corporate insiders own 66.90% of the company’s stock.

Landsea Homes Company Profile

Landsea Homes Corporation engages in the design, construction, marketing, and sale of suburban and urban single-family detached and attached homes in the United States. The company develops homes and communities; builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities.