LGI Homes (NASDAQ:LGIH) Posts Quarterly Earnings Results, Beats Expectations By $0.33 EPS

LGI Homes (NASDAQ:LGIH) released its quarterly earnings results on Tuesday. The financial services provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.33, Zacks reports. The company had revenue of $444.46 million for the quarter, compared to analysts’ expectations of $438.21 million. LGI Homes had a return on equity of 3.55% and a net margin of 3.88%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 earnings per share.

LGI Homes Trading Down 1.7%

Shares of LGIH stock traded down $0.79 during mid-day trading on Tuesday, hitting $46.63. The company’s stock had a trading volume of 225,667 shares, compared to its average volume of 399,506. The company has a market cap of $1.08 billion, a PE ratio of 16.39 and a beta of 1.86. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.61 and a current ratio of 17.74. The company’s fifty day simple moving average is $48.40 and its 200-day simple moving average is $50.27. LGI Homes has a 52 week low of $33.55 and a 52 week high of $66.25.

Analysts Set New Price Targets

Several brokerages recently commented on LGIH. Citigroup reiterated a “market outperform” rating on shares of LGI Homes in a report on Tuesday, October 6th. Weiss Ratings downgraded shares of LGI Homes from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, September 21st. Finally, Wall Street Zen raised shares of LGI Homes from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $68.00.

LGI Homes Company Profile

LGI Homes, Inc is a homebuilder that designs, constructs and sells single-family homes in planned residential communities across the United States. The company primarily serves entry-level and first-time homebuyers, while also offering homes for move-up buyers and active-adult customers. Its communities typically feature standardized home designs, modern amenities and financing-related support intended to simplify the homebuying process.

Founded in 2003, LGI Homes has expanded from its original Texas operations into numerous housing markets throughout the South, Southwest and other high-growth regions.