Q2 2022 EPS Estimates for LGI Homes, Inc. (NASDAQ:LGIH) Raised by Analyst

LGI Homes, Inc. (NASDAQ:LGIHGet Rating) – Investment analysts at Wedbush increased their Q2 2022 earnings estimates for shares of LGI Homes in a research report issued on Tuesday, May 3rd. Wedbush analyst J. Mccanless now anticipates that the financial services provider will post earnings of $4.16 per share for the quarter, up from their prior forecast of $3.57. Wedbush also issued estimates for LGI Homes’ FY2022 earnings at $18.12 EPS, Q3 2023 earnings at $5.30 EPS and FY2023 earnings at $19.23 EPS.

LGI Homes (NASDAQ:LGIHGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.72 by $0.53. The company had revenue of $546.05 million during the quarter, compared to the consensus estimate of $530.07 million. LGI Homes had a return on equity of 30.05% and a net margin of 14.14%. The company’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.95 earnings per share.

A number of other equities analysts have also commented on LGIH. Zacks Investment Research lowered LGI Homes from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. TheStreet lowered LGI Homes from a “b-” rating to a “c+” rating in a research report on Thursday, April 7th. JPMorgan Chase & Co. decreased their price objective on LGI Homes from $96.00 to $81.00 and set an “underweight” rating for the company in a report on Wednesday, April 13th. BTIG Research upgraded LGI Homes from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 20th. Finally, StockNews.com upgraded LGI Homes from a “sell” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $130.40.

Shares of NASDAQ LGIH opened at $100.26 on Friday. LGI Homes has a 52 week low of $88.13 and a 52 week high of $188.00. The stock has a market capitalization of $2.38 billion, a PE ratio of 6.06 and a beta of 1.49. The stock has a 50 day moving average price of $106.07 and a 200 day moving average price of $127.74. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.03 and a current ratio of 14.77.

In other LGI Homes news, COO Michael Larry Snider sold 16,729 shares of the company’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $118.99, for a total transaction of $1,990,583.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Rachel Lyons Eaton sold 3,883 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 53,472 shares of company stock worth $6,362,633 over the last quarter. Company insiders own 12.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. boosted its position in LGI Homes by 298.0% during the 4th quarter. First Horizon Advisors Inc. now owns 203 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 152 shares during the period. Rise Advisors LLC bought a new position in shares of LGI Homes during the fourth quarter worth about $33,000. UMB Bank N A MO acquired a new stake in LGI Homes during the fourth quarter worth about $36,000. Confluence Wealth Services Inc. acquired a new stake in LGI Homes during the fourth quarter worth about $44,000. Finally, Covestor Ltd acquired a new stake in LGI Homes during the fourth quarter worth about $69,000. 84.31% of the stock is owned by institutional investors and hedge funds.

About LGI Homes (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.

Further Reading

Earnings History and Estimates 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.