Seaport Res Ptn Comments on LGI Homes, Inc.’s Q2 2024 Earnings (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH) – Equities researchers at Seaport Res Ptn boosted their Q2 2024 earnings estimates for LGI Homes in a report released on Wednesday, May 1st. Seaport Res Ptn analyst K. Zener now expects that the financial services provider will earn $2.89 per share for the quarter, up from their prior forecast of $2.70. The consensus estimate for LGI Homes’ current full-year earnings is $9.16 per share. Seaport Res Ptn also issued estimates for LGI Homes’ FY2025 earnings at $11.68 EPS.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.30). LGI Homes had a net margin of 8.37% and a return on equity of 10.43%. The business had revenue of $390.90 million for the quarter, compared to analysts’ expectations of $400.00 million. During the same period in the prior year, the company posted $1.14 EPS. The firm’s revenue was down 19.8% on a year-over-year basis.

Other analysts have also recently issued reports about the company. JMP Securities restated a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday, April 5th. Wedbush restated an “underperform” rating and set a $74.00 price objective (down from $88.00) on shares of LGI Homes in a research report on Tuesday, April 2nd. Finally, StockNews.com downgraded shares of LGI Homes from a “hold” rating to a “sell” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, LGI Homes has an average rating of “Hold” and an average price target of $110.50.

LGI Homes Price Performance

LGIH stock opened at $96.73 on Friday. LGI Homes has a 1 year low of $84.15 and a 1 year high of $141.91. The firm has a market capitalization of $2.28 billion, a PE ratio of 12.09 and a beta of 1.86. The company has a debt-to-equity ratio of 0.74, a current ratio of 12.36 and a quick ratio of 0.42. The business has a 50 day simple moving average of $104.84 and a 200-day simple moving average of $113.37.

Insiders Place Their Bets

In other LGI Homes news, CFO Charles Michael Merdian sold 6,361 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $712,113.95. Following the sale, the chief financial officer now owns 9,458 shares in the company, valued at approximately $1,058,823.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other LGI Homes news, CFO Charles Michael Merdian sold 6,361 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $712,113.95. Following the sale, the chief financial officer now directly owns 9,458 shares of the company’s stock, valued at approximately $1,058,823.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Michael Larry Snider sold 7,993 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $110.06, for a total transaction of $879,709.58. Following the completion of the sale, the chief operating officer now owns 19,016 shares in the company, valued at $2,092,900.96. The disclosure for this sale can be found here. Insiders sold a total of 26,435 shares of company stock worth $2,944,291 over the last 90 days. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new position in LGI Homes in the fourth quarter valued at approximately $38,000. First Horizon Advisors Inc. boosted its holdings in shares of LGI Homes by 35.8% in the 4th quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock valued at $47,000 after buying an additional 93 shares in the last quarter. Mather Group LLC. purchased a new position in shares of LGI Homes in the 1st quarter valued at $47,000. RiverPark Advisors LLC acquired a new stake in LGI Homes during the 3rd quarter worth $49,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in LGI Homes in the first quarter valued at $52,000. 84.89% of the stock is owned by institutional investors and hedge funds.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.