Q3 2022 EPS Estimates for Landsea Homes Co. Decreased by B. Riley (NASDAQ:LSEA)

Landsea Homes Co. (NASDAQ:LSEA – Get Rating) – B. Riley lowered their Q3 2022 earnings estimates for Landsea Homes in a report issued on Thursday, June 16th. B. Riley analyst A. Rygiel now forecasts that the company will earn $0.65 per share for the quarter, down from their previous estimate of $0.67. B. Riley currently has a “Buy” rating and a $10.00 target price on the stock. The consensus estimate for Landsea Homes’ current full-year earnings is $2.68 per share. B. Riley also issued estimates for Landsea Homes’ Q4 2022 earnings at $0.70 EPS.

Separately, Barclays reduced their target price on shares of Landsea Homes from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 29th.

Shares of NASDAQ:LSEA opened at $7.00 on Friday. The firm’s 50 day moving average price is $7.86 and its 200 day moving average price is $7.64. The stock has a market cap of $317.24 million, a price-to-earnings ratio of 4.46 and a beta of 0.25. Landsea Homes has a fifty-two week low of $6.19 and a fifty-two week high of $9.44.

Landsea Homes (NASDAQ:LSEA – Get Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.47. The business had revenue of $316.23 million for the quarter, compared to analysts’ expectations of $241.32 million. Landsea Homes had a net margin of 6.18% and a return on equity of 15.82%. During the same quarter in the prior year, the company earned $0.03 earnings per share.

In other Landsea Homes news, CEO Holdings Corp Landsea sold 4,838,710 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $9.30, for a total transaction of $45,000,003.00. Following the sale, the chief executive officer now owns 28,039,555 shares of the company’s stock, valued at $260,767,861.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Qin Zhou acquired 20,000 shares of the business’s stock in a transaction on Friday, March 25th. The shares were bought at an average cost of $8.91 per share, for a total transaction of $178,200.00. The disclosure for this purchase can be found here. 75.70% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in Landsea Homes by 63.3% during the third quarter. Royal Bank of Canada now owns 4,297 shares of the company’s stock worth $37,000 after purchasing an additional 1,665 shares in the last quarter. American International Group Inc. raised its holdings in Landsea Homes by 74.8% during the third quarter. American International Group Inc. now owns 5,879 shares of the company’s stock worth $51,000 after purchasing an additional 2,516 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Landsea Homes by 79.5% during the fourth quarter. California State Teachers Retirement System now owns 6,170 shares of the company’s stock worth $45,000 after acquiring an additional 2,733 shares during the last quarter. Morgan Stanley purchased a new position in shares of Landsea Homes during the first quarter worth approximately $26,000. Finally, Bank of New York Mellon Corp grew its position in shares of Landsea Homes by 5.1% during the first quarter. Bank of New York Mellon Corp now owns 64,414 shares of the company’s stock worth $551,000 after acquiring an additional 3,107 shares during the last quarter. 22.17% of the stock is currently owned by institutional investors.

About Landsea Homes (Get Rating)

Landsea Homes Corporation designs, constructs, markets, and sells suburban and urban single-family detached and attached homes in California, Arizona, Florida, Texas, and Metro New York. It offers a range of properties, including entry-level and first-time move-up homes. The company was incorporated in 2017 and is headquartered in Newport Beach, California.

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