Research Analysts Set Expectations for LGI Homes, Inc.’s Q2 2024 Earnings (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH) – Investment analysts at Wedbush decreased their Q2 2024 EPS estimates for LGI Homes in a report issued on Tuesday, April 30th. Wedbush analyst J. Mccanless now anticipates that the financial services provider will post earnings of $1.93 per share for the quarter, down from their previous 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) last announced its quarterly earnings data 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). LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. The business had revenue of $390.90 million during the quarter, compared to analysts’ expectations of $400.00 million. During the same quarter last year, the company posted $1.14 EPS. LGI Homes’s revenue for the quarter was down 19.8% compared to the same quarter last year.

A number of other research firms have also recently commented on LGIH. StockNews.com raised LGI Homes from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. JMP Securities reissued a “market outperform” rating and set a $160.00 price objective on shares of LGI Homes in a research report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $110.50.

LGI Homes Stock Performance

LGI Homes stock opened at $89.45 on Thursday. LGI Homes has a twelve month low of $84.15 and a twelve month high of $141.91. The company has a quick ratio of 0.42, a current ratio of 12.36 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $2.11 billion, a P/E ratio of 11.18 and a beta of 1.86. The stock’s 50 day moving average is $105.59 and its 200 day moving average is $113.50.

Insider Buying and Selling

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

Institutional Investors Weigh In On LGI Homes

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