LGI Homes (NASDAQ:LGIH) Issues Quarterly Earnings Results, Beats Estimates By $1.58 EPS


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LGI Homes (NASDAQ:LGIH) announced its earnings results on Tuesday. The financial services provider reported $3.95 earnings per share for the quarter, beating the consensus estimate of $2.37 by $1.58, MarketWatch Earnings reports. LGI Homes had a net margin of 12.15% and a return on equity of 24.77%. The firm had revenue of $705.90 million during the quarter, compared to the consensus estimate of $543.93 million. During the same quarter in the previous year, the company posted $1.67 EPS. The firm’s revenue for the quarter was up 55.2% on a year-over-year basis.

Shares of LGIH traded up $2.38 during trading hours on Tuesday, reaching $174.45. 8,991 shares of the company’s stock traded hands, compared to its average volume of 301,264. The business’s fifty day simple moving average is $155.77 and its two-hundred day simple moving average is $123.22. LGI Homes has a twelve month low of $57.38 and a twelve month high of $173.38. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of 17.99 and a beta of 1.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 12.91 and a quick ratio of 1.13.

Several research analysts recently weighed in on LGIH shares. Wells Fargo & Company started coverage on shares of LGI Homes in a research note on Wednesday, April 21st. They issued an “underweight” rating and a $150.00 target price for the company. Wolfe Research started coverage on shares of LGI Homes in a research note on Tuesday, March 16th. They set a “market perform” rating for the company. Wedbush upped their price objective on shares of LGI Homes from $110.00 to $135.00 and gave the company a “neutral” rating in a research note on Tuesday, April 13th. Zacks Investment Research raised shares of LGI Homes from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Thursday, February 25th. Finally, KeyCorp assumed coverage on shares of LGI Homes in a research note on Monday, February 22nd. They set a “sector weight” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $124.86.

In related news, COO Michael Larry Snider sold 3,850 shares of the stock in a transaction on Monday, March 8th. The stock was sold at an average price of $130.26, for a total value of $501,501.00. Following the completion of the transaction, the chief operating officer now owns 121,607 shares in the company, valued at approximately $15,840,527.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Thomas Lipar sold 10,000 shares of the stock in a transaction on Wednesday, March 10th. The shares were sold at an average price of $135.28, for a total value of $1,352,800.00. Insiders have sold 73,092 shares of company stock valued at $10,099,846 in the last ninety days. Company insiders own 12.00% of the company’s stock.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes in the United States. It offers entry-level homes, such as detached and attached homes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. As of December 31, 2020, it owned 113 communities. The company serves in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada, West Virginia, Virginia, and Pennsylvania.

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Earnings History for LGI Homes (NASDAQ:LGIH)

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