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

Brokerages expect LGI Homes, Inc. (NASDAQ:LGIH – Get 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:LGIH – Get 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.

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