Brokers Set Expectations for LGI Homes, Inc.’s Q1 2024 Earnings (NASDAQ:LGIH)
LGI Homes, Inc. (NASDAQ:LGIH – Free Report) – Seaport Res Ptn issued their Q1 2024 earnings estimates for LGI Homes in a research note issued on Tuesday, February 20th. Seaport Res Ptn analyst K. Zener expects that the financial services provider will earn $1.35 per share for the quarter. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for LGI Homes’ current full-year earnings is $11.56 per share. Seaport Res Ptn also issued estimates for LGI Homes’ Q2 2024 earnings at $2.70 EPS, Q3 2024 earnings at $2.56 EPS, Q4 2024 earnings at $2.61 EPS, FY2024 earnings at $9.21 EPS and FY2025 earnings at $11.12 EPS.
Several other analysts have also issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a research note on Tuesday, December 19th. StockNews.com upgraded LGI Homes from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Wedbush decreased their target price on LGI Homes from $97.00 to $88.00 and set a “neutral” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $114.00.
View Our Latest Stock Report on LGIH
LGI Homes Trading Down 1.0 %
NASDAQ LGIH opened at $113.37 on Friday. LGI Homes has a 12 month low of $84.15 and a 12 month high of $141.91. The firm has a market capitalization of $2.67 billion, a P/E ratio of 13.46 and a beta of 1.86. The business has a fifty day simple moving average of $124.57 and a 200 day simple moving average of $116.36. The company has a current ratio of 10.66, a quick ratio of 0.37 and a debt-to-equity ratio of 0.67.
LGI Homes (NASDAQ:LGIH – Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The financial services provider reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.35). LGI Homes had a return on equity of 11.28% and a net margin of 8.45%. The business had revenue of $608.41 million for the quarter, compared to the consensus estimate of $663.95 million. During the same quarter in the previous year, the company posted $1.45 earnings per share. LGI Homes’s quarterly revenue was up 24.6% on a year-over-year basis.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Polen Capital Management LLC purchased a new position in LGI Homes in the fourth quarter worth about $3,360,000. Price T Rowe Associates Inc. MD boosted its position in LGI Homes by 6.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,832 shares of the financial services provider’s stock worth $1,709,000 after purchasing an additional 755 shares during the last quarter. NFJ Investment Group LLC purchased a new position in LGI Homes in the fourth quarter worth about $1,986,000. Barclays PLC boosted its position in LGI Homes by 16.4% in the fourth quarter. Barclays PLC now owns 146,569 shares of the financial services provider’s stock worth $19,517,000 after purchasing an additional 20,665 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in LGI Homes by 1.8% in the fourth quarter. Nuveen Asset Management LLC now owns 59,431 shares of the financial services provider’s stock worth $7,914,000 after purchasing an additional 1,024 shares during the last quarter. 89.43% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at LGI Homes
In related news, Director Steven Randal Smith sold 1,490 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $132.14, for a total transaction of $196,888.60. Following the sale, the director now directly owns 1,221 shares of the company’s stock, valued at $161,342.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.40% of the stock is currently owned by insiders.
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 institutions looking to acquire single-family rental properties.
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