LGI Homes, Inc. Expected to Earn Q2 2024 Earnings of $1.93 Per Share (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH) – Wedbush dropped their Q2 2024 earnings per share estimates for shares of LGI Homes in a note issued to investors on Tuesday, April 30th. Wedbush analyst J. Mccanless now forecasts that the financial services provider will earn $1.93 per share for the quarter, down from their previous estimate 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 $9.16 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) 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 analysts’ consensus estimates of $1.02 by ($0.30). The business had revenue of $390.90 million for the quarter, compared to the consensus estimate of $400.00 million. LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. LGI Homes’s revenue was down 19.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share.

Several other research firms have also recently issued reports on LGIH. StockNews.com cut shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Friday. JMP Securities reissued a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research note on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $110.50.

LGI Homes Stock Up 4.8 %

Shares of LGIH opened at $96.73 on Thursday. The firm has a fifty day moving average price of $104.84 and a 200-day moving average price of $113.37. The company has a current ratio of 12.36, a quick ratio of 0.42 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $2.28 billion, a P/E 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.

Insider Buying and Selling

In other news, CEO Eric Thomas Lipar sold 10,869 shares of LGI Homes 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 transaction, the chief executive officer now directly owns 627,430 shares in the company, valued at approximately $70,240,788.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Charles Michael Merdian sold 6,361 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $712,113.95. Following the transaction, the chief financial officer now directly owns 9,458 shares in the company, valued at approximately $1,058,823.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eric Thomas Lipar sold 10,869 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 627,430 shares of the company’s stock, valued at $70,240,788.50. The disclosure for this sale can be found here. Insiders sold 26,435 shares of company stock valued at $2,944,291 over the last 90 days. Corporate insiders own 12.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP raised its stake in LGI Homes by 9.9% in the 1st quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock worth $169,929,000 after acquiring an additional 131,467 shares during the last quarter. CDAM UK Ltd increased its holdings in LGI Homes by 14.7% in the 4th quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock worth $89,878,000 after buying an additional 86,265 shares during the period. Barclays PLC increased its holdings in LGI Homes by 213.0% in the 3rd quarter. Barclays PLC now owns 125,904 shares of the financial services provider’s stock worth $12,525,000 after buying an additional 85,682 shares during the period. Liontrust Investment Partners LLP raised its position in LGI Homes by 61.4% during the 3rd quarter. Liontrust Investment Partners LLP now owns 218,912 shares of the financial services provider’s stock worth $21,780,000 after buying an additional 83,237 shares during the last quarter. Finally, Ampfield Management L.P. increased its stake in shares of LGI Homes by 13.0% in the fourth quarter. Ampfield Management L.P. now owns 571,857 shares of the financial services provider’s stock worth $76,148,000 after acquiring an additional 65,609 shares during the period. Hedge funds and other institutional investors own 84.89% of the company’s stock.

About LGI Homes

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.