FY2024 EPS Estimates for LGI Homes Cut by Seaport Res Ptn

LGI Homes, Inc. (NASDAQ:LGIH) – Equities researchers at Seaport Res Ptn cut their FY2024 earnings per share (EPS) estimates for LGI Homes in a report released on Sunday, November 10th. Seaport Res Ptn analyst K. Zener now forecasts that the financial services provider will post earnings of $8.46 per share for the year, down from their prior forecast of $8.71. The consensus estimate for LGI Homes’ current full-year earnings is $8.97 per share. Seaport Res Ptn also issued estimates for LGI Homes’ FY2025 earnings at $9.96 EPS.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.41. The business had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.84 EPS.

Separately, Wedbush reiterated a “neutral” rating and issued a $125.00 price objective on shares of LGI Homes in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LGI Homes currently has an average rating of “Hold” and an average target price of $126.00.

LGI Homes Trading Down 3.1 %

Shares of LGI Homes stock opened at $104.94 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.49 and a current ratio of 12.72. The firm has a 50-day moving average of $110.58 and a 200-day moving average of $102.97. LGI Homes has a 52-week low of $84.00 and a 52-week high of $136.89. The stock has a market cap of $2.47 billion, a PE ratio of 12.58 and a beta of 1.97.

Institutional Trading of LGI Homes

Institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC raised its position in shares of LGI Homes by 23.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,334 shares of the financial services provider’s stock valued at $272,000 after buying an additional 444 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of LGI Homes by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 17,942 shares of the financial services provider’s stock valued at $2,088,000 after purchasing an additional 233 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of LGI Homes by 1.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 12,108 shares of the financial services provider’s stock valued at $1,409,000 after purchasing an additional 217 shares in the last quarter. Sei Investments Co. grew its holdings in shares of LGI Homes by 3.3% during the 1st quarter. Sei Investments Co. now owns 3,970 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 126 shares during the last quarter. Finally, Inspire Investing LLC increased its position in LGI Homes by 5.5% during the 1st quarter. Inspire Investing LLC now owns 3,037 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 159 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors.

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.