Q3 2024 EPS Estimates for LGI Homes, Inc. Lifted by Analyst (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH) – Research analysts at Seaport Res Ptn boosted their Q3 2024 earnings per share estimates for shares of LGI Homes in a report released on Wednesday, May 1st. Seaport Res Ptn analyst K. Zener now expects that the financial services provider will earn $2.94 per share for the quarter, up from their previous forecast of $2.56. The consensus estimate for LGI Homes’ current full-year earnings is $9.25 per share. Seaport Res Ptn also issued estimates for LGI Homes’ Q4 2024 earnings at $2.94 EPS and FY2024 earnings at $9.49 EPS.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.30). The business had revenue of $390.90 million during the quarter, compared to analyst estimates of $400.00 million. LGI Homes had a net margin of 8.37% and a return on equity of 10.43%. LGI Homes’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share.

Several other research firms also recently weighed in on LGIH. Wedbush reaffirmed an “underperform” rating and issued a $74.00 price target (down from $88.00) on shares of LGI Homes in a research note on Tuesday, April 2nd. StockNews.com lowered LGI Homes from a “hold” rating to a “sell” rating in a research report on Friday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a research note on Friday, April 5th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, LGI Homes currently has a consensus rating of “Hold” and an average price target of $110.50.

LGI Homes Stock Up 4.8 %

LGI Homes stock opened at $96.73 on Monday. The company has a market capitalization of $2.28 billion, a PE ratio of 12.09 and a beta of 1.86. LGI Homes has a 12-month low of $84.15 and a 12-month high of $141.91. The firm’s fifty day moving average is $104.84 and its 200 day moving average is $113.66. The company has a quick ratio of 0.42, a current ratio of 12.36 and a debt-to-equity ratio of 0.74.

Insider Buying and Selling at LGI Homes

In other news, General Counsel Scott James Garber sold 1,212 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $135,683.40. Following the completion of the sale, the general counsel now directly owns 13,824 shares of the company’s stock, valued at $1,547,596.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, General Counsel Scott James Garber sold 1,212 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $135,683.40. Following the transaction, the general counsel now owns 13,824 shares in the company, valued at $1,547,596.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Thomas Lipar sold 10,869 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $111.95, for a total value of $1,216,784.55. Following the sale, the chief executive officer now owns 627,430 shares of the company’s stock, valued at approximately $70,240,788.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,435 shares of company stock valued at $2,944,291. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LGIH. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in LGI Homes by 17.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,435 shares of the financial services provider’s stock valued at $342,000 after buying an additional 504 shares during the last quarter. Inspire Investing LLC increased its position in shares of LGI Homes by 31.7% during the third quarter. Inspire Investing LLC now owns 3,078 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 741 shares during the last quarter. Montgomery Investment Management Inc. lifted its holdings in LGI Homes by 0.8% during the third quarter. Montgomery Investment Management Inc. now owns 101,540 shares of the financial services provider’s stock worth $10,102,000 after acquiring an additional 780 shares during the period. Allspring Global Investments Holdings LLC boosted its position in LGI Homes by 54.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,753 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 615 shares during the last quarter. Finally, AlphaMark Advisors LLC bought a new position in LGI Homes in the 3rd quarter valued at $194,000. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

LGI Homes Company Profile

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 large institutions looking to acquire single-family rental properties.