Zacks: Brokerages Expect LGI Homes Inc (LGIH) Will Announce Earnings of $1.30 Per Share

Wall Street brokerages predict that LGI Homes Inc (NASDAQ:LGIH) will post $1.30 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for LGI Homes’ earnings, with the highest EPS estimate coming in at $1.43 and the lowest estimate coming in at $1.21. LGI Homes posted earnings of $1.01 per share in the same quarter last year, which indicates a positive year over year growth rate of 28.7%. The firm is expected to announce its next earnings report on Tuesday, March 6th.

On average, analysts expect that LGI Homes will report full year earnings of $4.63 per share for the current fiscal year, with EPS estimates ranging from $4.53 to $4.76. For the next year, analysts anticipate that the company will report earnings of $5.68 per share, with EPS estimates ranging from $5.14 to $6.33. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for LGI Homes.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, November 7th. The financial services provider reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.10. LGI Homes had a net margin of 9.26% and a return on equity of 25.51%. The business had revenue of $365.90 million for the quarter, compared to analyst estimates of $355.81 million. During the same period last year, the company posted $0.86 EPS. The business’s revenue was up 69.2% on a year-over-year basis.

A number of research firms have weighed in on LGIH. Wedbush lowered shares of LGI Homes from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $55.00 to $49.00 in a research note on Tuesday, October 3rd. BidaskClub lowered shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 11th. ValuEngine raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 30th. JMP Securities raised their target price on shares of LGI Homes from $62.00 to $68.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 8th. Finally, TheStreet raised shares of LGI Homes from a “c+” rating to a “b-” rating in a research note on Monday, November 13th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $59.33.

In other news, insider Michael Larry Snider sold 20,000 shares of LGI Homes stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $62.75, for a total transaction of $1,255,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bryan Christopher Sansbury sold 23,101 shares of LGI Homes stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $63.28, for a total transaction of $1,461,831.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,101 shares of company stock worth $4,517,581. Corporate insiders own 13.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of LGI Homes by 3.9% during the 2nd quarter. BlackRock Inc. now owns 2,493,251 shares of the financial services provider’s stock valued at $100,180,000 after buying an additional 92,633 shares during the period. FMR LLC purchased a new stake in shares of LGI Homes during the 2nd quarter valued at approximately $21,233,000. Jane Street Group LLC purchased a new stake in shares of LGI Homes during the 3rd quarter valued at approximately $323,000. New York State Common Retirement Fund raised its position in shares of LGI Homes by 20.0% during the 2nd quarter. New York State Common Retirement Fund now owns 47,686 shares of the financial services provider’s stock valued at $1,916,000 after buying an additional 7,952 shares during the period. Finally, Scout Investments Inc. increased its holdings in LGI Homes by 15.7% in the 3rd quarter. Scout Investments Inc. now owns 48,575 shares of the financial services provider’s stock valued at $2,359,000 after purchasing an additional 6,600 shares during the last quarter. 90.67% of the stock is currently owned by hedge funds and other institutional investors.

LGI Homes (NASDAQ:LGIH) opened at $72.22 on Friday. The company has a quick ratio of 0.86, a current ratio of 8.91 and a debt-to-equity ratio of 1.04. LGI Homes has a 12 month low of $26.82 and a 12 month high of $79.55. The firm has a market cap of $1,668.61, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 1.23 and a beta of 0.27.

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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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