Analysts Anticipate LGI Homes, Inc. (LGIH) Will Announce Quarterly Sales of $340.42 Million
Wall Street analysts expect LGI Homes, Inc. (NASDAQ:LGIH) to announce sales of $340.42 million for the current quarter, according to Zacks. Four analysts have made estimates for LGI Homes’ earnings. The highest sales estimate is $372.80 million and the lowest is $322.50 million. LGI Homes reported sales of $216.30 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 57.4%. The business is expected to announce its next quarterly earnings report on Tuesday, November 14th.
On average, analysts expect that LGI Homes will report full-year sales of $340.42 million for the current fiscal year, with estimates ranging from $1.10 billion to $1.24 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.40 billion per share, with estimates ranging from $1.33 billion to $1.51 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for LGI Homes.
LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.12. The company had revenue of $324.20 million for the quarter, compared to analysts’ expectations of $317.63 million. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The business’s quarterly revenue was up 45.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 earnings per share.
A number of equities analysts have commented on LGIH shares. Zacks Investment Research raised LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 price target on the stock in a research note on Tuesday, July 18th. ValuEngine cut LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. BidaskClub cut LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 25th. Wedbush raised LGI Homes from a “neutral” rating to an “outperform” rating and set a $49.00 price target on the stock in a research note on Thursday, August 31st. Finally, J P Morgan Chase & Co cut LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 price target on the stock. in a research note on Wednesday, August 9th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $49.40.
In related news, Director Bryan Christopher Sansbury sold 25,000 shares of LGI Homes stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $46.30, for a total transaction of $1,157,500.00. Following the sale, the director now directly owns 159,551 shares in the company, valued at $7,387,211.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Thomas Lipar sold 10,000 shares of LGI Homes stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $42.59, for a total value of $425,900.00. Following the sale, the chief executive officer now owns 524,175 shares in the company, valued at $22,324,613.25. The disclosure for this sale can be found here. Insiders sold a total of 38,500 shares of company stock worth $1,743,735 over the last ninety days. Insiders own 13.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its position in shares of LGI Homes by 85.3% during the first quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 1,422 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of LGI Homes by 14.2% during the first quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 402 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of LGI Homes by 82.4% during the second quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 1,533 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of LGI Homes by 7.0% during the first quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 260 shares in the last quarter. Finally, Invictus RG bought a new stake in shares of LGI Homes during the first quarter valued at approximately $193,000. Institutional investors own 93.37% of the company’s stock.
Shares of LGI Homes (NASDAQ:LGIH) opened at 53.03 on Wednesday. LGI Homes has a 12-month low of $26.82 and a 12-month high of $54.84. The stock’s 50 day moving average price is $46.02 and its 200 day moving average price is $39.42. The company has a market capitalization of $1.15 billion, a PE ratio of 14.08 and a beta of 0.12.
LGI Homes Company Profile
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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