LGI Homes, Inc. (LGIH) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS
LGI Homes, Inc. (NASDAQ:LGIH) released its earnings results on Tuesday. The financial services provider reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.10, MarketWatch Earnings reports. The firm had revenue of $324.20 million during the quarter, compared to analyst estimates of $317.63 million. LGI Homes had a return on equity of 22.09% and a net margin of 8.95%. The business’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 earnings per share. LGI Homes updated its FY17 guidance to $4.25-4.75 EPS.
Shares of LGI Homes (NASDAQ LGIH) traded up 2.5888% during mid-day trading on Tuesday, reaching $49.0785. The company’s stock had a trading volume of 545,356 shares. The company has a 50 day moving average price of $40.89 and a 200 day moving average price of $33.82. LGI Homes has a 12 month low of $26.82 and a 12 month high of $49.95. The stock has a market capitalization of $1.06 billion, a P/E ratio of 14.7339 and a beta of 0.07.
A number of equities research analysts have issued reports on LGIH shares. ValuEngine downgraded LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research downgraded LGI Homes from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Wells Fargo & Company raised LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price target for the company in a research report on Tuesday, May 16th. BidaskClub raised LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, Wedbush reissued a “neutral” rating and issued a $35.00 price target on shares of LGI Homes in a report on Tuesday, July 4th. Three investment 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. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.00.
In related news, CEO Eric Thomas Lipar sold 10,000 shares of LGI Homes stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $42.59, for a total transaction of $425,900.00. Following the sale, the chief executive officer now directly owns 524,175 shares of the company’s stock, valued at $22,324,613.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 13.60% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC increased its stake in 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 stake 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 worth $105,000 after buying an additional 1,422 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake 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 worth $110,000 after buying an additional 402 shares during the last quarter. Mason Street Advisors LLC increased its stake 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 worth $135,000 after buying an additional 260 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake 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 worth $136,000 after buying an additional 1,533 shares during the last quarter. 87.66% of the stock is currently owned by institutional investors and hedge funds.
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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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