$736.10 Million in Sales Expected for LGI Homes, Inc. (NASDAQ:LGIH) This Quarter

Brokerages expect LGI Homes, Inc. (NASDAQ:LGIHGet Rating) to post sales of $736.10 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for LGI Homes’ earnings. The lowest sales estimate is $708.10 million and the highest is $783.50 million. LGI Homes posted sales of $791.51 million in the same quarter last year, which suggests a negative year over year growth rate of 7%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that LGI Homes will report full year sales of $3.17 billion for the current fiscal year, with estimates ranging from $3.11 billion to $3.21 billion. For the next year, analysts anticipate that the company will report sales of $3.50 billion, with estimates ranging from $3.39 billion to $3.57 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow LGI Homes.

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, beating the consensus estimate of $2.72 by $0.53. LGI Homes had a net margin of 14.14% and a return on equity of 30.05%. The company had revenue of $546.05 million for the quarter, compared to analysts’ expectations of $530.07 million. During the same quarter in the previous year, the company earned $3.95 earnings per share. LGI Homes’s quarterly revenue was down 22.7% on a year-over-year basis.

LGIH has been the topic of a number of recent research reports. TheStreet cut shares of LGI Homes from a “b-” rating to a “c+” rating in a report on Thursday, April 7th. JPMorgan Chase & Co. cut their price objective on shares of LGI Homes from $96.00 to $81.00 and set an “underweight” rating on the stock in a report on Wednesday, April 13th. Zacks Investment Research upgraded shares of LGI Homes from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Friday, May 13th. BTIG Research upgraded shares of LGI Homes from a “sell” rating to a “neutral” rating in a report on Wednesday, April 20th. Finally, StockNews.com downgraded shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, LGI Homes presently has an average rating of “Hold” and an average target price of $122.80.

Shares of NASDAQ LGIH opened at $94.93 on Tuesday. LGI Homes has a 1 year low of $86.72 and a 1 year high of $175.98. The company has a debt-to-equity ratio of 0.71, a current ratio of 14.77 and a quick ratio of 0.86. The company’s 50-day moving average is $95.70 and its 200 day moving average is $120.14. The stock has a market capitalization of $2.25 billion, a P/E ratio of 5.74 and a beta of 1.48.

In other LGI Homes news, COO Michael Larry Snider sold 16,729 shares of LGI Homes stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $118.99, for a total value of $1,990,583.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maria Renna Sharpe acquired 1,000 shares of the company’s stock in a transaction on Wednesday, March 16th. The stock was acquired at an average cost of $117.79 per share, with a total value of $117,790.00. The disclosure for this purchase can be found here. Insiders have sold a total of 53,472 shares of company stock worth $6,362,633 over the last 90 days. Insiders own 12.50% of the company’s stock.

Several large investors have recently modified their holdings of the business. Capital International Investors lifted its holdings in shares of LGI Homes by 4.1% in the 4th quarter. Capital International Investors now owns 1,032,607 shares of the financial services provider’s stock worth $159,517,000 after acquiring an additional 41,024 shares during the last quarter. State Street Corp lifted its holdings in shares of LGI Homes by 6.4% in the 4th quarter. State Street Corp now owns 874,111 shares of the financial services provider’s stock worth $135,033,000 after acquiring an additional 52,534 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of LGI Homes by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 604,664 shares of the financial services provider’s stock worth $59,070,000 after acquiring an additional 62,967 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of LGI Homes by 3.3% in the 1st quarter. Disciplined Growth Investors Inc. MN now owns 470,045 shares of the financial services provider’s stock worth $45,914,000 after acquiring an additional 14,984 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of LGI Homes by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 376,065 shares of the financial services provider’s stock worth $58,094,000 after acquiring an additional 4,848 shares during the last quarter. 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.

See Also

Get a free copy of the Zacks research report on LGI Homes (LGIH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.