LGI Homes, Inc. (NASDAQ:LGIH) Expected to Post Q3 2024 Earnings of $2.94 Per Share

LGI Homes, Inc. (NASDAQ:LGIH) – Investment analysts at Seaport Res Ptn increased their Q3 2024 earnings estimates for shares of LGI Homes in a research note issued to investors on Wednesday, May 1st. Seaport Res Ptn analyst K. Zener now anticipates that the financial services provider will post earnings per share of $2.94 for the quarter, up from their previous forecast 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.30). LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. The firm had revenue of $390.90 million during the quarter, compared to analysts’ expectations of $400.00 million. During the same period in the prior year, the business earned $1.14 earnings per share. The business’s quarterly revenue was down 19.8% compared to the same quarter last year.

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

LGI Homes Trading Up 1.0 %

Shares of LGIH opened at $97.69 on Monday. The firm has a market cap of $2.30 billion, a P/E ratio of 12.21 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 company has a debt-to-equity ratio of 0.74, a quick ratio of 0.43 and a current ratio of 12.36. The business has a 50-day moving average of $104.54 and a 200 day moving average of $113.73.

Institutional Inflows and Outflows

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

Insider Buying and Selling

In other LGI Homes news, General Counsel Scott James Garber sold 1,212 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $135,683.40. Following the sale, the general counsel now owns 13,824 shares of the company’s stock, valued at approximately $1,547,596.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other LGI Homes news, General Counsel Scott James Garber sold 1,212 shares of LGI Homes stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $135,683.40. Following the completion of the sale, the general counsel now owns 13,824 shares of the company’s stock, valued at $1,547,596.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Michael Larry Snider sold 7,993 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $110.06, for a total transaction of $879,709.58. Following the transaction, the chief operating officer now owns 19,016 shares in the company, valued at $2,092,900.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,435 shares of company stock valued at $2,944,291. Company insiders own 12.20% 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.