LGI Homes, Inc. (NASDAQ:LGIH) Expected to Post Quarterly Sales of $736.10 Million

Equities analysts predict that LGI Homes, Inc. (NASDAQ:LGIHGet Rating) will report sales of $736.10 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for LGI Homes’ earnings. The lowest sales estimate is $708.10 million and the highest is $783.50 million. LGI Homes reported sales of $791.51 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7%. The company is scheduled to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that LGI Homes will report full year sales of $3.17 billion for the current fiscal year, with estimates ranging from $3.11 billion to $3.21 billion. For the next fiscal year, analysts forecast that the company will report sales of $3.50 billion, with estimates ranging from $3.39 billion to $3.57 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for LGI Homes.

LGI Homes (NASDAQ:LGIHGet Rating) last announced its earnings results on Tuesday, May 3rd. The financial services provider reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.72 by $0.53. LGI Homes had a net margin of 14.14% and a return on equity of 30.05%. The business had revenue of $546.05 million during the quarter, compared to analysts’ expectations of $530.07 million. During the same period in the prior year, the company earned $3.95 earnings per share. The firm’s revenue was down 22.7% on a year-over-year basis.

A number of brokerages have recently issued reports on LGIH. Zacks Investment Research raised shares of LGI Homes from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research note on Friday, May 13th. StockNews.com lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. JPMorgan Chase & Co. lowered their price objective on shares of LGI Homes from $96.00 to $81.00 and set an “underweight” rating for the company in a research report on Wednesday, April 13th. TheStreet lowered shares of LGI Homes from a “b-” rating to a “c+” rating in a research report on Thursday, April 7th. Finally, BTIG Research upgraded shares of LGI Homes from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, LGI Homes presently has a consensus rating of “Hold” and an average price target of $122.80.

In other LGI Homes news, COO Michael Larry Snider sold 16,729 shares of the firm’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $118.99, for a total transaction of $1,990,583.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Maria Renna Sharpe acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, March 16th. The stock was purchased at an average cost of $117.79 per share, for a total transaction of $117,790.00. The disclosure for this purchase can be found here. Insiders sold a total of 53,472 shares of company stock worth $6,362,633 in the last ninety days. 12.50% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its stake in LGI Homes by 298.0% in the 4th quarter. First Horizon Advisors Inc. now owns 203 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 152 shares in the last quarter. Rise Advisors LLC acquired a new stake in LGI Homes during the 4th quarter valued at approximately $33,000. UMB Bank N A MO acquired a new stake in LGI Homes during the 4th quarter valued at approximately $36,000. Confluence Wealth Services Inc. acquired a new stake in LGI Homes during the 4th quarter valued at approximately $44,000. Finally, Meeder Asset Management Inc. acquired a new stake in LGI Homes during the 1st quarter valued at approximately $58,000. Institutional investors own 84.31% of the company’s stock.

Shares of LGIH stock opened at $94.93 on Tuesday. LGI Homes has a 12 month low of $86.72 and a 12 month high of $175.98. The stock has a market cap of $2.25 billion, a P/E ratio of 5.74 and a beta of 1.48. The company has a current ratio of 14.77, a quick ratio of 0.86 and a debt-to-equity ratio of 0.71. The company has a 50 day simple moving average of $95.70 and a two-hundred day simple moving average of $120.14.

About LGI Homes (Get Rating)

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 companies looking to acquire single-family rental properties.

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