Equities research analysts expect LGI Homes, Inc. (NASDAQ:LGIH) to report $735.84 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for LGI Homes' earnings, with the lowest sales estimate coming in at $642.00 million and the highest estimate coming in at $788.90 million. LGI Homes posted sales of $481.60 million during the same quarter last year, which suggests a positive year over year growth rate of 52.8%. The business is expected to report its next earnings report before the market opens on Tuesday, August 3rd.
On average, analysts expect that LGI Homes will report full-year sales of $2.94 billion for the current fiscal year, with estimates ranging from $2.87 billion to $3.02 billion. For the next year, analysts forecast that the firm will report sales of $3.08 billion, with estimates ranging from $3.00 billion to $3.20 billion. Zacks' sales calculations are a mean average based on a survey of research analysts that cover LGI Homes.
LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, May 4th. The financial services provider reported $3.95 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $2.37 by $1.58. LGI Homes had a net margin of 14.54% and a return on equity of 32.58%. The business had revenue of $705.90 million during the quarter, compared to analyst estimates of $543.93 million. During the same quarter in the prior year, the firm earned $1.67 earnings per share. The company's revenue for the quarter was up 55.2% compared to the same quarter last year.
A number of equities research analysts have recently issued reports on LGIH shares. Zacks Investment Research raised shares of LGI Homes from a "hold" rating to a "buy" rating and set a $183.00 price target on the stock in a research note on Wednesday, July 14th. JMP Securities lifted their price objective on shares of LGI Homes from $140.00 to $175.00 and gave the company a "market outperform" rating in a report on Friday, June 18th. Wells Fargo & Company lifted their price objective on shares of LGI Homes from $150.00 to $175.00 and gave the company an "underweight" rating in a report on Thursday, May 6th. Finally, Wedbush lifted their price objective on shares of LGI Homes from $135.00 to $155.00 and gave the company a "neutral" rating in a report on Wednesday, May 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. LGI Homes currently has an average rating of "Hold" and an average target price of $159.50.
In related news, CMO Rachel Lyons Eaton sold 378 shares of the company's stock in a transaction on Tuesday, May 11th. The shares were sold at an average price of $173.27, for a total value of $65,496.06. Following the completion of the sale, the chief marketing officer now owns 39,409 shares in the company, valued at approximately $6,828,397.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.80% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Strs Ohio acquired a new stake in shares of LGI Homes during the 1st quarter worth about $29,000. First Horizon Advisors Inc. purchased a new position in shares of LGI Homes during the 1st quarter worth about $36,000. Vantage Consulting Group Inc purchased a new position in shares of LGI Homes during the 4th quarter worth about $33,000. Lazard Asset Management LLC purchased a new position in shares of LGI Homes during the 1st quarter worth about $55,000. Finally, Acadian Asset Management LLC purchased a new position in shares of LGI Homes during the 1st quarter worth about $63,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.
LGI Homes stock opened at $161.32 on Friday. The company has a 50 day moving average of $164.23. The stock has a market cap of $4.02 billion, a P/E ratio of 10.74 and a beta of 1.57. LGI Homes has a 1 year low of $95.54 and a 1 year high of $188.00. The company has a quick ratio of 0.78, a current ratio of 9.12 and a debt-to-equity ratio of 0.34.
LGI Homes Company Profile
LGI Homes, Inc engages in the design, construction, marketing, and sale of new homes. It focuses on residential land development business. It operates through the following segments: Central, West, Southeast, Florida, and Northwest. The company was founded by Eric Thomas Lipar in 2003 and is headquartered in The Woodlands, TX.
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