LGI Homes (NASDAQ:LGIH) Issues Quarterly Earnings Results

LGI Homes (NASDAQ:LGIH) issued its quarterly earnings results on Tuesday. The financial services provider reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.24, Briefing.com reports. The company had revenue of $602.50 million during the quarter, compared to analyst estimates of $617.44 million. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. LGI Homes’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 EPS.

LGI Homes Stock Down 3.6 %

LGIH opened at $110.96 on Friday. The company has a fifty day moving average price of $96.02 and a 200-day moving average price of $104.74. The firm has a market capitalization of $2.61 billion, a P/E ratio of 13.87 and a beta of 1.92. The company has a debt-to-equity ratio of 0.78, a current ratio of 12.63 and a quick ratio of 0.43. LGI Homes has a one year low of $84.00 and a one year high of $139.74.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 price target on shares of LGI Homes in a report on Friday, April 5th. JPMorgan Chase & Co. lowered their price target on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. StockNews.com cut shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Wedbush reissued an “underperform” rating and set a $74.00 target price on shares of LGI Homes in a report on Thursday, June 6th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, LGI Homes has a consensus rating of “Hold” and an average price target of $107.50.

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.