LGI Homes, Inc. (LGIH) Releases FY17 Earnings Guidance
LGI Homes, Inc. (NASDAQ:LGIH) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.25-4.75 for the period, compared to the Thomson Reuters consensus estimate of $4.02.
Shares of LGI Homes, Inc. (LGIH) opened at 47.84 on Tuesday. The stock’s 50 day moving average price is $40.89 and its 200 day moving average price is $33.82. LGI Homes, Inc. has a 12 month low of $26.82 and a 12 month high of $48.05. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 14.36 and a beta of 0.07.
LGI Homes (NASDAQ:LGIH) last released its 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 return on equity of 22.09% and a net margin of 8.95%. The business had revenue of $162.91 million for the quarter, compared to the consensus estimate of $161.68 million. During the same period in the previous year, the company posted $0.57 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts expect that LGI Homes, Inc. will post $4.13 EPS for the current year.
LGIH has been the topic of several analyst reports. Wedbush reissued a neutral rating and issued a $35.00 target price on shares of LGI Homes in a report on Tuesday, July 4th. Zacks Investment Research downgraded LGI Homes from a hold rating to a sell rating in a report on Wednesday, May 10th. BidaskClub raised LGI Homes from a buy rating to a strong-buy rating in a report on Monday, July 24th. Wells Fargo & Company raised LGI Homes from an underperform rating to a market perform rating and set a $33.00 price target on the stock in a report on Tuesday, May 16th. Finally, ValuEngine downgraded LGI Homes from a strong-buy rating to a buy rating in a report on Tuesday, June 20th. 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 stock. The stock currently has a consensus rating of Buy and an average price target of $39.00.
In other news, CEO Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction on Monday, July 17th. The stock was 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 of the company’s stock, valued at $22,324,613.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 13.60% of the company’s stock.
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About LGI Homes
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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