Landsea Homes (NASDAQ:LSEA) Releases Earnings Results, Misses Expectations By $0.07 EPS

Landsea Homes (NASDAQ:LSEA) announced its quarterly earnings results on Wednesday. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07), Zacks reports. Landsea Homes had a return on equity of 6.11% and a net margin of 2.08%. The firm had revenue of $294.04 million during the quarter, compared to the consensus estimate of $277.30 million. During the same quarter in the previous year, the firm earned $0.18 EPS.

Landsea Homes Stock Down 0.6 %

Shares of NASDAQ LSEA traded down $0.06 on Friday, hitting $9.78. The company had a trading volume of 250,798 shares, compared to its average volume of 217,271. The firm has a market capitalization of $353.55 million, a P/E ratio of 14.47 and a beta of 1.11. Landsea Homes has a 12-month low of $7.00 and a 12-month high of $14.91. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $12.46 and a two-hundred day moving average of $11.50.

Insider Transactions at Landsea Homes

In other news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $11.60, for a total transaction of $32,480,000.00. Following the completion of the sale, the insider now directly owns 16,940,729 shares of the company’s stock, valued at approximately $196,512,456.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, COO Michael Forsum bought 17,241 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were bought at an average cost of $11.60 per share, with a total value of $199,995.60. Following the acquisition, the chief operating officer now owns 446,682 shares in the company, valued at $5,181,511.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $11.60, for a total transaction of $32,480,000.00. Following the completion of the transaction, the insider now directly owns 16,940,729 shares in the company, valued at $196,512,456.40. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 20,430 shares of company stock worth $236,988. 66.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of Landsea Homes in a research report on Wednesday. Barclays cut their price target on Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Thursday.

Landsea Homes Company Profile

Landsea Homes Corporation engages in the design, construction, marketing, and sale of suburban and urban single-family detached and attached homes in the United States. The company develops homes and communities; builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities.