LGI Homes (NASDAQ:LGIH) Releases Quarterly Earnings Results, Beats Estimates By $0.33 EPS

LGI Homes (NASDAQ:LGIH) released its quarterly earnings results on Tuesday. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.72 by $0.33, Zacks reports. LGI Homes had a net margin of 3.88% and a return on equity of 3.55%. The business had revenue of $444.46 million for the quarter, compared to the consensus estimate of $438.21 million. During the same period in the prior year, the company posted $0.85 earnings per share. LGI Homes’s revenue was up 12.1% compared to the same quarter last year.

LGI Homes Stock Down 2.2%

Shares of LGIH traded down $1.02 during trading hours on Tuesday, hitting $46.40. The stock had a trading volume of 231,526 shares, compared to its average volume of 399,533. LGI Homes has a 1-year low of $33.55 and a 1-year high of $66.25. The firm has a market capitalization of $1.08 billion, a P/E ratio of 16.27 and a beta of 1.86. The firm has a 50 day simple moving average of $48.40 and a 200-day simple moving average of $50.27. The company has a debt-to-equity ratio of 0.74, a current ratio of 17.74 and a quick ratio of 0.61.

Analyst Ratings Changes

Several analysts recently weighed in on LGIH shares. Citigroup reaffirmed a “market outperform” rating on shares of LGI Homes in a research note on Tuesday, October 6th. Weiss Ratings downgraded LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, September 21st. Finally, Wall Street Zen raised LGI Homes from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $68.00.

About LGI Homes

LGI Homes, Inc is a homebuilder that designs, constructs and sells single-family homes in planned residential communities across the United States. The company primarily serves entry-level and first-time homebuyers, while also offering homes for move-up buyers and active-adult customers. Its communities typically feature standardized home designs, modern amenities and financing-related support intended to simplify the homebuying process.

Founded in 2003, LGI Homes has expanded from its original Texas operations into numerous housing markets throughout the South, Southwest and other high-growth regions.