Q2 2024 EPS Estimates for LGI Homes, Inc. Increased by Analyst (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH) – Equities research analysts at Seaport Res Ptn raised their Q2 2024 earnings estimates for shares of LGI Homes in a research note issued on Wednesday, May 1st. Seaport Res Ptn analyst K. Zener now forecasts that the financial services provider will post earnings of $2.89 per share for the quarter, up from their previous estimate 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 issued its earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.30). The firm had revenue of $390.90 million during the quarter, compared to analysts’ expectations of $400.00 million. LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. The business’s revenue was down 19.8% on a year-over-year basis. During the same quarter last year, the business earned $1.14 EPS.

Several other analysts have also recently commented on LGIH. 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. Wedbush restated an “underperform” rating and set a $74.00 target price (down from $88.00) on shares of LGI Homes in a research report on Tuesday, April 2nd. Finally, StockNews.com downgraded LGI Homes from a “hold” rating to a “sell” rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $110.50.

LGI Homes Price Performance

Shares of NASDAQ LGIH opened at $96.73 on Friday. LGI Homes has a 52 week low of $84.15 and a 52 week high of $141.91. The company has a quick ratio of 0.42, a current ratio of 12.36 and a debt-to-equity ratio of 0.74. The firm has a market cap of $2.28 billion, a P/E ratio of 12.09 and a beta of 1.86. The business’s 50 day moving average price is $104.84 and its 200 day moving average price is $113.50.

Insider Activity at LGI Homes

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 stock was sold at an average price of $111.95, for a total transaction of $712,113.95. Following the transaction, the chief financial officer now owns 9,458 shares in the company, valued at $1,058,823.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Charles Michael Merdian sold 6,361 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now 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 through this hyperlink. Also, General Counsel Scott James Garber sold 1,212 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $135,683.40. Following the transaction, the general counsel now directly owns 13,824 shares in the company, valued at $1,547,596.80. The disclosure for this sale can be found here. Insiders sold a total of 26,435 shares of company stock worth $2,944,291 in the last 90 days. Corporate insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On LGI Homes

A number of large investors have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new position in LGI Homes in the 1st quarter worth approximately $1,298,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of LGI Homes in the first quarter valued at approximately $52,000. RiverPark Advisors LLC lifted its position in LGI Homes by 361.0% during the first quarter. RiverPark Advisors LLC now owns 3,407 shares of the financial services provider’s stock worth $396,000 after buying an additional 2,668 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in LGI Homes by 23.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,334 shares of the financial services provider’s stock valued at $272,000 after buying an additional 444 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of LGI Homes by 28.6% during the 1st quarter. BNP Paribas Financial Markets now owns 34,290 shares of the financial services provider’s stock worth $3,990,000 after acquiring an additional 7,616 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

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.