Q1 2024 Earnings Estimate for LGI Homes, Inc. (NASDAQ:LGIH) Issued By Wedbush

LGI Homes, Inc. (NASDAQ:LGIH - Free Report) - Equities researchers at Wedbush reduced their Q1 2024 EPS estimates for shares of LGI Homes in a research report issued on Wednesday, April 3rd. Wedbush analyst J. Mccanless now expects that the financial services provider will post earnings of $0.62 per share for the quarter, down from their previous forecast of $0.79. Wedbush currently has a "Underperform" rating and a $74.00 target price on the stock. The consensus estimate for LGI Homes' current full-year earnings is $9.29 per share. Wedbush also issued estimates for LGI Homes' FY2024 earnings at $8.57 EPS.

LGI Homes (NASDAQ:LGIH - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.54 by ($0.35). LGI Homes had a net margin of 8.45% and a return on equity of 11.28%. The firm had revenue of $608.41 million during the quarter, compared to analyst estimates of $663.95 million. During the same period last year, the firm earned $1.45 EPS. LGI Homes's quarterly revenue was up 24.6% on a year-over-year basis.

A number of other equities analysts have also recently issued reports on the company. StockNews.com cut LGI Homes from a "hold" rating to a "sell" rating in a report on Tuesday, March 26th. JMP Securities reiterated a "market outperform" rating and set a $160.00 target price on shares of LGI Homes in a report on Friday. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, LGI Homes has a consensus rating of "Hold" and an average price target of $110.50.

LGI Homes Trading Down 2.2 %

Shares of LGIH stock traded down $2.19 on Friday, hitting $98.80. The stock had a trading volume of 288,797 shares, compared to its average volume of 187,201. The firm has a market cap of $2.33 billion, a P/E ratio of 11.73 and a beta of 1.83. The company has a current ratio of 10.66, a quick ratio of 0.42 and a debt-to-equity ratio of 0.67. LGI Homes has a twelve month low of $84.15 and a twelve month high of $141.91. The company has a fifty day moving average price of $114.87 and a two-hundred day moving average price of $113.88.

Insider Activity at LGI Homes

In other LGI Homes news, CEO Eric Thomas Lipar sold 10,869 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $1,216,784.55. Following the sale, the chief executive officer now owns 627,430 shares of the company's stock, valued at $70,240,788.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Eric Thomas Lipar sold 10,869 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total value of $1,216,784.55. Following the transaction, the chief executive officer now owns 627,430 shares in the company, valued at $70,240,788.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Charles Michael Merdian sold 6,361 shares of the business's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $712,113.95. Following the completion of the transaction, the chief financial officer now owns 9,458 shares in the company, valued at approximately $1,058,823.10. The disclosure for this sale can be found here. Insiders have sold 26,435 shares of company stock valued at $2,944,291 over the last three months. 12.40% of the stock is owned by insiders.

Institutional Investors Weigh In On LGI Homes

Institutional investors and hedge funds have recently made changes to their positions in the business. Dark Forest Capital Management LP bought a new position in shares of LGI Homes during the 1st quarter valued at approximately $27,000. GAMMA Investing LLC purchased a new stake in shares of LGI Homes during the 4th quarter valued at $38,000. First Horizon Advisors Inc. raised its position in shares of LGI Homes by 35.8% during the 4th quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider's stock valued at $47,000 after buying an additional 93 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of LGI Homes during the 3rd quarter valued at $42,000. Finally, RiverPark Advisors LLC purchased a new stake in shares of LGI Homes during the 3rd quarter valued at $49,000. Institutional investors and hedge funds own 84.89% of the company's stock.

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.