Wall Street analysts expect LGI Homes Inc (NASDAQ:LGIH) to post $340.39 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for LGI Homes’ earnings, with the highest sales estimate coming in at $358.20 million and the lowest estimate coming in at $324.38 million. LGI Homes posted sales of $236.83 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 43.7%. The company is scheduled to report its next earnings report on Tuesday, March 6th.
On average, analysts expect that LGI Homes will report full year sales of $340.39 million for the current year, with estimates ranging from $1.18 billion to $1.21 billion. For the next year, analysts forecast that the firm will post sales of $1.46 billion per share, with estimates ranging from $1.38 billion to $1.52 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow LGI Homes.
LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, November 7th. The financial services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.30 by $0.10. The firm had revenue of $365.90 million for the quarter, compared to analyst estimates of $355.81 million. LGI Homes had a return on equity of 25.51% and a net margin of 9.26%. LGI Homes’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS.
LGIH has been the topic of several recent research reports. BidaskClub lowered LGI Homes from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 25th. Wedbush raised LGI Homes from a “neutral” rating to an “outperform” rating and set a $49.00 price target on the stock in a research report on Thursday, August 31st. Zacks Investment Research raised LGI Homes from a “hold” rating to a “strong-buy” rating and set a $61.00 price target on the stock in a research report on Wednesday, October 11th. TheStreet raised LGI Homes from a “c+” rating to a “b-” rating in a research report on Monday, November 13th. Finally, JMP Securities lifted their price objective on LGI Homes from $62.00 to $68.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 8th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $54.33.
In other news, CEO Eric Thomas Lipar sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $54.27, for a total value of $1,356,750.00. Following the completion of the sale, the chief executive officer now directly owns 504,593 shares in the company, valued at approximately $27,384,262.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Larry Snider sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $45.81, for a total value of $160,335.00. Following the completion of the sale, the insider now owns 191,948 shares of the company’s stock, valued at $8,793,137.88. The disclosure for this sale can be found here. Insiders have sold a total of 71,601 shares of company stock worth $4,233,916 over the last 90 days. 13.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue increased its holdings in shares of LGI Homes by 82.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 1,533 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of LGI Homes by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,633 shares of the financial services provider’s stock valued at $146,000 after acquiring an additional 543 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of LGI Homes in the 3rd quarter valued at approximately $199,000. BNP Paribas Arbitrage SA increased its holdings in shares of LGI Homes by 56.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,069 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 1,831 shares during the last quarter. Finally, LS Investment Advisors LLC increased its holdings in shares of LGI Homes by 37.3% in the 3rd quarter. LS Investment Advisors LLC now owns 4,214 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 1,145 shares during the last quarter. Institutional investors and hedge funds own 92.01% of the company’s stock.
LGI Homes (LGIH) traded up $3.11 during trading on Friday, reaching $70.26. The company had a trading volume of 371,500 shares, compared to its average volume of 379,502. The firm has a market cap of $1,459.70, a price-to-earnings ratio of 15.54, a PEG ratio of 1.34 and a beta of 0.27. 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 $71.96.
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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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