Q2 2024 Earnings Forecast for Landsea Homes Co. (NASDAQ:LSEA) Issued By B. Riley

Landsea Homes Co. (NASDAQ:LSEA) – B. Riley lowered their Q2 2024 earnings estimates for shares of Landsea Homes in a report issued on Thursday, May 2nd. B. Riley analyst A. Rygiel now anticipates that the company will earn $0.27 per share for the quarter, down from their prior forecast of $0.31. The consensus estimate for Landsea Homes’ current full-year earnings is $1.40 per share. B. Riley also issued estimates for Landsea Homes’ Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $1.40 EPS and FY2025 earnings at $1.85 EPS.

Landsea Homes (NASDAQ:LSEA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07). The company had revenue of $294.04 million for the quarter, compared to the consensus estimate of $277.30 million. Landsea Homes had a net margin of 2.08% and a return on equity of 6.11%. During the same period last year, the company earned $0.18 earnings per share.

LSEA has been the subject of a number of other research reports. Barclays lowered their target price on shares of Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday. Wedbush restated an “outperform” rating and set a $16.00 target price on shares of Landsea Homes in a report on Wednesday.

Landsea Homes Stock Down 0.6 %

Shares of NASDAQ LSEA opened at $9.78 on Friday. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $353.55 million, a PE ratio of 14.38 and a beta of 1.11. The firm’s 50-day moving average is $12.42 and its 200-day moving average is $11.52. Landsea Homes has a 1 year low of $7.00 and a 1 year high of $14.91.

Insiders Place Their Bets

In other news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $11.60, for a total value of $32,480,000.00. Following the sale, the insider now directly owns 16,940,729 shares in the company, valued at $196,512,456.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $11.60, for a total transaction of $32,480,000.00. Following the completion of the transaction, the insider now directly owns 16,940,729 shares of the company’s stock, valued at approximately $196,512,456.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael Forsum acquired 17,241 shares of the stock in a transaction dated Friday, March 8th. The stock was acquired at an average price of $11.60 per share, for a total transaction of $199,995.60. Following the completion of the acquisition, the chief operating officer now directly owns 446,682 shares of the company’s stock, valued at $5,181,511.20. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 20,430 shares of company stock worth $236,988. Corporate insiders own 66.90% of the company’s stock.

Institutional Investors Weigh In On Landsea Homes

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Byrne Asset Management LLC acquired a new stake in shares of Landsea Homes in the third quarter valued at about $26,000. AJOVista LLC acquired a new position in shares of Landsea Homes during the 4th quarter worth approximately $64,000. Quarry LP acquired a new position in shares of Landsea Homes during the 4th quarter worth approximately $90,000. LSV Asset Management bought a new stake in shares of Landsea Homes during the 4th quarter worth approximately $135,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Landsea Homes by 3,727.9% in the 4th quarter. New York State Common Retirement Fund now owns 10,718 shares of the company’s stock valued at $141,000 after buying an additional 10,438 shares during the last quarter. 82.99% of the stock is owned by institutional investors.

Landsea Homes Company Profile

Landsea Homes Corporation engages in the design, construction, marketing, and sale of suburban and urban single-family detached and attached homes in the United States. The company develops homes and communities; builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities.