LGI Homes (NASDAQ:LGIH) Releases Quarterly Earnings Results, Beats Estimates By $0.53 EPS

LGI Homes (NASDAQ:LGIHGet Rating) released its earnings results on Tuesday. The financial services provider reported $3.25 EPS for the quarter, topping the consensus estimate of $2.72 by $0.53, MarketWatch Earnings reports. LGI Homes had a net margin of 14.09% and a return on equity of 32.82%. The firm had revenue of $546.05 million for the quarter, compared to the consensus estimate of $530.07 million. During the same quarter in the previous year, the firm earned $3.95 earnings per share. The company’s quarterly revenue was down 22.7% compared to the same quarter last year.

NASDAQ:LGIH traded down $1.58 during trading hours on Tuesday, hitting $96.35. 3,654 shares of the company were exchanged, compared to its average volume of 383,157. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 5.68 and a beta of 1.49. LGI Homes has a 52-week low of $88.13 and a 52-week high of $188.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 14.86 and a quick ratio of 1.03. The company’s 50 day moving average price is $107.21 and its 200-day moving average price is $128.39.

In related news, CMO Rachel Lyons Eaton sold 3,883 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $118.99, for a total value of $462,038.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric Thomas Lipar sold 32,860 shares of the stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $118.99, for a total transaction of $3,910,011.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,472 shares of company stock worth $6,362,633. 12.50% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LGIH. Goldman Sachs Group Inc. lifted its stake in LGI Homes by 130.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 279,910 shares of the financial services provider’s stock worth $43,241,000 after purchasing an additional 158,424 shares in the last quarter. Morgan Stanley lifted its stake in LGI Homes by 53.4% in the 2nd quarter. Morgan Stanley now owns 172,597 shares of the financial services provider’s stock worth $27,951,000 after purchasing an additional 60,088 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of LGI Homes by 77.3% during the 4th quarter. Allianz Asset Management GmbH now owns 30,165 shares of the financial services provider’s stock worth $4,660,000 after buying an additional 13,154 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of LGI Homes during the 4th quarter worth approximately $714,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of LGI Homes during the 4th quarter worth approximately $292,000. 84.31% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently commented on LGIH shares. StockNews.com assumed coverage on shares of LGI Homes in a report on Thursday, March 31st. They issued a “sell” rating for the company. JPMorgan Chase & Co. reduced their target price on shares of LGI Homes from $96.00 to $81.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 13th. BTIG Research upgraded shares of LGI Homes from a “sell” rating to a “neutral” rating in a report on Wednesday, April 20th. Zacks Investment Research downgraded LGI Homes from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Finally, TheStreet lowered shares of LGI Homes from a “b-” rating to a “c+” rating in a research note on Thursday, April 7th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $134.50.

LGI Homes Company Profile (Get Rating)

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 companies looking to acquire single-family rental properties.

Featured Articles

Earnings History for LGI Homes (NASDAQ:LGIH)

Receive News & Ratings for LGI Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes and related companies with MarketBeat.com's FREE daily email newsletter.