Q2 2024 Earnings Estimate for LGI Homes, Inc. Issued By Wedbush (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH - Free Report) - Wedbush lowered their Q2 2024 earnings estimates for LGI Homes in a research note issued on Tuesday, April 30th. Wedbush analyst J. Mccanless now anticipates that the financial services provider will post earnings per share of $1.93 for the quarter, down from their prior forecast of $1.97. Wedbush has a "Underperform" rating and a $74.00 price target on the stock. The consensus estimate for LGI Homes' current full-year earnings is $9.24 per share. Wedbush also issued estimates for LGI Homes' Q3 2024 earnings at $2.65 EPS, Q4 2024 earnings at $3.03 EPS, FY2024 earnings at $8.33 EPS, Q1 2025 earnings at $1.17 EPS, Q2 2025 earnings at $2.68 EPS, Q3 2025 earnings at $2.92 EPS, Q4 2025 earnings at $3.60 EPS and FY2025 earnings at $10.37 EPS.

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

LGIH has been the subject of several other research reports. JMP Securities reiterated a "market outperform" rating and issued a $160.00 price objective on shares of LGI Homes in a research note on Friday, April 5th. StockNews.com raised LGI Homes from a "sell" rating to a "hold" rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, LGI Homes presently has an average rating of "Hold" and an average price target of $110.50.

LGI Homes Price Performance

Shares of NASDAQ LGIH traded up $2.84 during trading on Thursday, hitting $92.29. 424,806 shares of the company were exchanged, compared to its average volume of 207,541. The company has a debt-to-equity ratio of 0.74, a current ratio of 12.36 and a quick ratio of 0.42. LGI Homes has a 1 year low of $84.15 and a 1 year high of $141.91. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 11.54 and a beta of 1.86. The firm's fifty day moving average price is $105.17 and its 200 day moving average price is $113.35.

Insider Transactions at LGI Homes

In other news, 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 directly owns 627,430 shares in the company, valued at $70,240,788.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Eric Thomas Lipar sold 10,869 shares of LGI Homes stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 627,430 shares in the company, valued at $70,240,788.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael Larry Snider sold 7,993 shares of the company's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $110.06, for a total transaction of $879,709.58. Following the transaction, the chief operating officer now directly owns 19,016 shares in the company, valued at approximately $2,092,900.96. The disclosure for this sale can be found here. Insiders sold a total of 26,435 shares of company stock valued at $2,944,291 in the last ninety days. Corporate insiders own 12.40% of the company's stock.

Institutional Investors Weigh In On LGI Homes

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC acquired a new stake in LGI Homes in the 4th quarter worth about $38,000. First Horizon Advisors Inc. grew its holdings in LGI Homes by 35.8% in the fourth quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 93 shares during the period. Mather Group LLC. acquired a new position in LGI Homes during the first quarter worth approximately $47,000. RiverPark Advisors LLC purchased a new position in LGI Homes during the third quarter worth approximately $49,000. Finally, International Assets Investment Management LLC acquired a new position in shares of LGI Homes in the 4th quarter valued at $71,000. Hedge funds and other institutional investors 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.