Brokerages Anticipate LGI Homes Inc (LGIH) Will Announce Quarterly Sales of $380.99 Million

Wall Street brokerages expect LGI Homes Inc (NASDAQ:LGIH) to announce $380.99 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for LGI Homes’ earnings, with estimates ranging from $334.96 million to $397.90 million. LGI Homes posted sales of $236.83 million during the same quarter last year, which suggests a positive year-over-year growth rate of 60.9%. The business is scheduled to report its next earnings results before the market opens on Tuesday, February 27th.

On average, analysts expect that LGI Homes will report full year sales of $380.99 million for the current fiscal year, with estimates ranging from $1.19 billion to $1.25 billion. For the next financial year, analysts anticipate that the company will post sales of $1.50 billion per share, with estimates ranging from $1.46 billion to $1.55 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover LGI Homes.

LGIH has been the subject of several recent research reports. ValuEngine upgraded LGI Homes from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “strong-buy” rating and set a $91.00 price target for the company in a research report on Thursday, January 4th. TheStreet upgraded LGI Homes from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. JMP Securities lifted their price target on LGI Homes from $62.00 to $68.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 8th. Finally, BidaskClub lowered LGI Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $61.50.

Shares of LGI Homes (NASDAQ LGIH) traded down $0.24 during trading on Wednesday, hitting $63.94. The stock had a trading volume of 28,036 shares, compared to its average volume of 430,148. The stock has a market capitalization of $1,400.00, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 0.95 and a beta of 0.08. The company has a current ratio of 8.91, a quick ratio of 0.86 and a debt-to-equity ratio of 1.04. LGI Homes has a 52-week low of $27.28 and a 52-week high of $79.55.

In other news, CEO Eric Thomas Lipar sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $72.03, for a total transaction of $1,800,750.00. Following the sale, the chief executive officer now directly owns 491,233 shares of the company’s stock, valued at $35,383,512.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 13.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of LGIH. Schwab Charles Investment Management Inc. lifted its position in LGI Homes by 21.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 80,279 shares of the financial services provider’s stock valued at $3,226,000 after purchasing an additional 14,002 shares during the period. Teachers Advisors LLC raised its position in shares of LGI Homes by 11.0% in the second quarter. Teachers Advisors LLC now owns 31,031 shares of the financial services provider’s stock worth $1,247,000 after acquiring an additional 3,075 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of LGI Homes by 12.2% in the second quarter. TIAA CREF Investment Management LLC now owns 46,977 shares of the financial services provider’s stock worth $1,888,000 after acquiring an additional 5,119 shares during the period. Ameriprise Financial Inc. raised its position in shares of LGI Homes by 1.4% in the second quarter. Ameriprise Financial Inc. now owns 90,175 shares of the financial services provider’s stock worth $3,623,000 after acquiring an additional 1,270 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of LGI Homes by 8.7% in the second quarter. Nationwide Fund Advisors now owns 9,817 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 782 shares during the period. Institutional investors own 89.50% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/14/brokerages-anticipate-lgi-homes-inc-lgih-will-announce-quarterly-sales-of-380-99-million.html.

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.

Get a free copy of the Zacks research report on LGI Homes (LGIH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for LGI Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply