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

LGI Homes, Inc. (NASDAQ:LGIH) – Equities research analysts at Seaport Res Ptn raised their Q3 2024 earnings per share (EPS) estimates for LGI Homes in a research report issued to clients and investors on Wednesday, May 1st. Seaport Res Ptn analyst K. Zener now forecasts that the financial services provider will earn $2.94 per share for the quarter, up from their prior estimate 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 posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.30). The firm had revenue of $390.90 million for the quarter, compared to the consensus estimate of $400.00 million. LGI Homes had a net margin of 8.37% and a return on equity of 10.43%. The company’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share.

A number of other research analysts also recently issued reports on the company. Wedbush restated an “underperform” rating and set a $74.00 price target (down previously from $88.00) on shares of LGI Homes in a report on Tuesday, April 2nd. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research report on Friday, April 5th. Finally, StockNews.com downgraded LGI Homes from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LGI Homes has an average rating of “Hold” and a consensus target price of $110.50.

LGI Homes Price Performance

LGIH stock opened at $98.25 on Monday. The company has a current ratio of 12.36, a quick ratio of 0.43 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average price is $104.28 and its two-hundred day moving average price is $113.80. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 12.28 and a beta of 1.86. LGI Homes has a 12-month low of $84.15 and a 12-month high of $141.91.

Insider Activity at LGI Homes

In other LGI Homes news, General Counsel Scott James Garber sold 1,212 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were 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 in the company, valued at $1,547,596.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Charles Michael Merdian sold 6,361 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $712,113.95. Following the transaction, the chief financial officer now owns 9,458 shares in the company, valued at approximately $1,058,823.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Scott James Garber sold 1,212 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $135,683.40. Following the sale, the general counsel now owns 13,824 shares of the company’s stock, valued at $1,547,596.80. The disclosure for this sale can be found here. Insiders have sold 26,435 shares of company stock worth $2,944,291 over the last ninety days. 12.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP increased its position in shares of LGI Homes by 9.9% during the first quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock valued at $169,929,000 after acquiring an additional 131,467 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of LGI Homes by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,443,038 shares of the financial services provider’s stock worth $192,158,000 after purchasing an additional 58,850 shares in the last quarter. CDAM UK Ltd raised its stake in shares of LGI Homes by 14.7% in the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock worth $89,878,000 after purchasing an additional 86,265 shares during the last quarter. Ampfield Management L.P. lifted its holdings in shares of LGI Homes by 13.0% during the fourth quarter. Ampfield Management L.P. now owns 571,857 shares of the financial services provider’s stock valued at $76,148,000 after purchasing an additional 65,609 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of LGI Homes by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 292,719 shares of the financial services provider’s stock valued at $38,978,000 after buying an additional 10,596 shares during the last quarter. 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.