Q4 2022 EPS Estimates for LGI Homes, Inc. (NASDAQ:LGIH) Cut by Analyst

LGI Homes, Inc. (NASDAQ:LGIHGet Rating) – Research analysts at Wedbush dropped their Q4 2022 earnings estimates for shares of LGI Homes in a research report issued on Tuesday, August 2nd. Wedbush analyst J. Mccanless now anticipates that the financial services provider will post earnings of $4.31 per share for the quarter, down from their prior estimate of $5.21. The consensus estimate for LGI Homes’ current full-year earnings is $19.13 per share. Wedbush also issued estimates for LGI Homes’ Q1 2023 earnings at $2.57 EPS, Q2 2023 earnings at $3.63 EPS, Q3 2023 earnings at $4.36 EPS, Q4 2023 earnings at $4.95 EPS, FY2023 earnings at $15.47 EPS and FY2024 earnings at $17.83 EPS.

LGIH has been the topic of a number of other research reports. BTIG Research upgraded shares of LGI Homes from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 20th. JPMorgan Chase & Co. dropped their target price on shares of LGI Homes from $85.00 to $77.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 12th. JMP Securities dropped their target price on shares of LGI Homes from $175.00 to $140.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of LGI Homes from $108.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Friday, June 17th. Finally, StockNews.com upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $101.25.

LGI Homes Stock Down 2.5 %

Shares of NASDAQ LGIH opened at $108.15 on Friday. The company has a market capitalization of $2.56 billion, a P/E ratio of 6.35 and a beta of 1.57. LGI Homes has a 52-week low of $71.73 and a 52-week high of $165.91. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 13.59. The company’s 50 day moving average price is $95.63 and its 200-day moving average price is $104.51.

LGI Homes (NASDAQ:LGIHGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The financial services provider reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.67. The firm had revenue of $723.07 million for the quarter, compared to the consensus estimate of $715.65 million. LGI Homes had a net margin of 14.67% and a return on equity of 29.21%. The company’s revenue for the quarter was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.71 EPS.

Institutional Trading of LGI Homes

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio grew its stake in shares of LGI Homes by 20.0% in the 4th quarter. Strs Ohio now owns 600 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 100 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of LGI Homes in the 4th quarter worth $208,000. Allspring Global Investments Holdings LLC bought a new stake in shares of LGI Homes in the 4th quarter worth $1,258,000. State of New Jersey Common Pension Fund D grew its stake in shares of LGI Homes by 6.8% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 18,603 shares of the financial services provider’s stock worth $2,874,000 after acquiring an additional 1,183 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new stake in shares of LGI Homes in the 4th quarter worth $3,156,000. Institutional investors own 84.31% of the company’s stock.

Insider Buying and Selling at LGI Homes

In other LGI Homes news, Director Ryan Edone purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, June 15th. The stock was acquired at an average price of $82.38 per share, for a total transaction of $82,380.00. Following the purchase, the director now owns 26,778 shares of the company’s stock, valued at approximately $2,205,971.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.50% of the stock is currently owned by company insiders.

LGI Homes Company Profile

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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.

See Also

Earnings History and Estimates for LGI Homes (NASDAQ:LGIH)

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