Zacks: Brokerages Expect LGI Homes, Inc. (NASDAQ:LGIH) Will Announce Earnings of $1.27 Per Share
Brokerages forecast that LGI Homes, Inc. (NASDAQ:LGIH) will post $1.27 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for LGI Homes’ earnings, with the lowest EPS estimate coming in at $1.11 and the highest estimate coming in at $1.36. LGI Homes reported earnings of $0.96 per share during the same quarter last year, which would suggest a positive year over year growth rate of 32.3%. The business is expected to announce its next quarterly earnings results before the market opens on Tuesday, August 8th.
On average, analysts expect that LGI Homes will report full-year earnings of $4.22 per share for the current fiscal year, with EPS estimates ranging from $3.93 to $4.90. For the next year, analysts expect that the business will report earnings of $5.01 per share, with EPS estimates ranging from $4.56 to $6.06. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover LGI Homes.
LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. LGI Homes had a net margin of 8.95% and a return on equity of 22.09%. The company had revenue of $162.91 million for the quarter, compared to analyst estimates of $161.68 million. During the same quarter in the prior year, the business posted $0.57 EPS. LGI Homes’s quarterly revenue was up .3% on a year-over-year basis.
LGIH has been the topic of a number of research reports. ValuEngine lowered shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Wells Fargo & Company raised shares of LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price objective on the stock in a research report on Tuesday, May 16th. Wedbush reissued a “neutral” rating and issued a $35.00 price objective on shares of LGI Homes in a research report on Thursday, April 6th. Finally, BidaskClub raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. LGI Homes currently has an average rating of “Buy” and a consensus target price of $39.00.
Shares of LGI Homes (NASDAQ LGIH) traded up 0.9581% on Thursday, hitting $44.5225. 106,452 shares of the stock traded hands. The firm has a market capitalization of $961.64 million, a PE ratio of 13.3661 and a beta of 0.05. LGI Homes has a 52 week low of $26.82 and a 52 week high of $44.53. The firm’s 50 day moving average is $39.96 and its 200 day moving average is $33.38.
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In related news, CEO Eric Thomas Lipar sold 10,000 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $42.59, for a total transaction of $425,900.00. Following the transaction, the chief executive officer now directly owns 524,175 shares in the company, valued at $22,324,613.25. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 13.60% of the company’s stock.
Institutional investors have recently modified their holdings of the company. LS Investment Advisors LLC increased its position in shares of LGI Homes by 414.6% in the first quarter. LS Investment Advisors LLC now owns 3,103 shares of the financial services provider’s stock worth $105,000 after buying an additional 2,500 shares during the last quarter. Victory Capital Management Inc. increased its position in LGI Homes by 85.3% in the first quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock valued at $105,000 after buying an additional 1,422 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in LGI Homes by 14.2% in the first quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock valued at $110,000 after buying an additional 402 shares in the last quarter. Mason Street Advisors LLC increased its position in LGI Homes by 7.0% in the first quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock valued at $135,000 after buying an additional 260 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in LGI Homes by 82.4% in the second quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock valued at $136,000 after buying an additional 1,533 shares in the last quarter. Institutional investors and hedge funds own 87.24% of the company’s stock.
LGI Homes Company Profile
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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