$359.31 Million in Sales Expected for LGI Homes Inc (LGIH) This Quarter
Equities analysts expect that LGI Homes Inc (NASDAQ:LGIH) will report sales of $359.31 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for LGI Homes’ earnings. The lowest sales estimate is $334.96 million and the highest is $397.90 million. LGI Homes posted sales of $236.83 million during the same quarter last year, which suggests a positive year over year growth rate of 51.7%. The company is scheduled to report its next earnings report on Tuesday, March 6th.
On average, analysts expect that LGI Homes will report full-year sales of $359.31 million for the current year, with estimates ranging from $1.19 billion to $1.25 billion. For the next year, analysts anticipate that the business will report sales of $1.48 billion per share, with estimates ranging from $1.43 billion to $1.55 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover LGI Homes.
LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, November 7th. The financial services provider reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.10. LGI Homes had a return on equity of 31.68% and a net margin of 9.21%. The business had revenue of $365.90 million for the quarter, compared to analysts’ expectations of $355.81 million. During the same period in the prior year, the business posted $0.86 earnings per share. The firm’s revenue was up 69.2% on a year-over-year basis.
In other news, insider Michael Larry Snider sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $62.75, for a total transaction of $1,255,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Thomas Lipar sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $54.27, for a total value of $1,356,750.00. Following the transaction, the chief executive officer now directly owns 504,593 shares in the company, valued at $27,384,262.11. The disclosure for this sale can be found here. Insiders have sold a total of 68,101 shares of company stock worth $4,073,581 over the last 90 days. Company insiders own 13.60% of the company’s stock.
Several large investors have recently modified their holdings of LGIH. Schwab Charles Investment Management Inc. raised its position in shares of LGI Homes by 21.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 80,279 shares of the financial services provider’s stock worth $3,226,000 after purchasing an additional 14,002 shares during the period. Rhumbline Advisers raised its position in shares of LGI Homes by 7.6% during the second quarter. Rhumbline Advisers now owns 32,853 shares of the financial services provider’s stock worth $1,320,000 after purchasing an additional 2,330 shares during the period. Bank of New York Mellon Corp raised its position in shares of LGI Homes by 34.0% during the second quarter. Bank of New York Mellon Corp now owns 274,296 shares of the financial services provider’s stock worth $11,021,000 after purchasing an additional 69,653 shares during the period. Legal & General Group Plc raised its position in shares of LGI Homes by 10.9% during the second quarter. Legal & General Group Plc now owns 31,367 shares of the financial services provider’s stock worth $1,259,000 after purchasing an additional 3,074 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in shares of LGI Homes by 56.5% during the second quarter. BNP Paribas Arbitrage SA now owns 5,069 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 1,831 shares during the period. 91.80% of the stock is currently owned by institutional investors.
Shares of LGI Homes (LGIH) traded down $2.34 during mid-day trading on Thursday, reaching $73.65. The company had a trading volume of 454,900 shares, compared to its average volume of 375,243. LGI Homes has a 1-year low of $26.82 and a 1-year high of $79.55. The company has a market capitalization of $1,660.00, a PE ratio of 17.09, a PEG ratio of 1.26 and a beta of 0.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 8.91 and a quick ratio of 0.86.
About LGI Homes
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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