Seaport Res Ptn Weighs in on LGI Homes, Inc.’s Q3 2024 Earnings (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH) – Equities researchers at Seaport Res Ptn lifted their Q3 2024 earnings per share estimates for shares of LGI Homes in a research report issued on Wednesday, May 1st. Seaport Res Ptn analyst K. Zener now expects that the financial services provider will post earnings per share of $2.94 for the quarter, up from their previous estimate of $2.56. The consensus estimate for LGI Homes’ current full-year earnings is $9.25 per share. Seaport Res Ptn also issued estimates for LGI Homes’ Q4 2024 earnings at $2.94 EPS and FY2024 earnings at $9.49 EPS.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share 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 the consensus estimate of $400.00 million. During the same quarter in the previous year, the firm earned $1.14 EPS. The firm’s revenue for the quarter was down 19.8% on a year-over-year basis.

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

LGI Homes Price Performance

Shares of NASDAQ:LGIH opened at $96.73 on Monday. The company has a market cap of $2.28 billion, a PE ratio of 12.09 and a beta of 1.86. LGI Homes has a fifty-two week low of $84.15 and a fifty-two week high of $141.91. The firm has a 50-day simple moving average of $104.84 and a 200 day simple moving average of $113.66. The company has a quick ratio of 0.42, a current ratio of 12.36 and a debt-to-equity ratio of 0.74.

Institutional Trading of LGI Homes

A number of hedge funds and other institutional investors have recently modified their holdings of LGIH. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of LGI Homes by 17.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,435 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 504 shares in the last quarter. Inspire Investing LLC lifted its position in shares of LGI Homes by 31.7% during the 3rd quarter. Inspire Investing LLC now owns 3,078 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 741 shares during the last quarter. Montgomery Investment Management Inc. boosted its stake in shares of LGI Homes by 0.8% during the 3rd quarter. Montgomery Investment Management Inc. now owns 101,540 shares of the financial services provider’s stock worth $10,102,000 after acquiring an additional 780 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of LGI Homes by 54.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,753 shares of the financial services provider’s stock worth $174,000 after acquiring an additional 615 shares in the last quarter. Finally, AlphaMark Advisors LLC acquired a new position in shares of LGI Homes in the 3rd quarter worth $194,000. Institutional investors own 84.89% of the company’s stock.

Insider Buying and Selling

In related news, CEO Eric Thomas Lipar sold 10,869 shares of LGI Homes stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $1,216,784.55. Following the sale, the chief executive officer now directly owns 627,430 shares in the company, valued at $70,240,788.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Charles Michael Merdian sold 6,361 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,058,823.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Thomas Lipar sold 10,869 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $1,216,784.55. Following the completion of the sale, the chief executive officer now owns 627,430 shares of the company’s stock, valued at $70,240,788.50. The disclosure for this sale can be found here. Insiders sold 26,435 shares of company stock valued at $2,944,291 in the last three months. 12.40% of the stock is currently owned by corporate insiders.

LGI Homes Company Profile

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.