LGI Homes Inc (LGIH) Expected to Post Quarterly Sales of $276.18 Million

Wall Street analysts expect that LGI Homes Inc (NASDAQ:LGIH) will report sales of $276.18 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for LGI Homes’ earnings. The highest sales estimate is $299.00 million and the lowest is $231.70 million. LGI Homes posted sales of $279.02 million during the same quarter last year, which would indicate a negative year over year growth rate of 1%. The firm is expected to issue its next earnings results on Tuesday, May 14th.

On average, analysts expect that LGI Homes will report full year sales of $1.73 billion for the current fiscal year, with estimates ranging from $1.61 billion to $1.79 billion. For the next fiscal year, analysts expect that the business will report sales of $2.07 billion, with estimates ranging from $1.91 billion to $2.24 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow LGI Homes.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, February 26th. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.03). LGI Homes had a net margin of 10.32% and a return on equity of 26.36%. The company had revenue of $425.20 million during the quarter, compared to analysts’ expectations of $429.46 million. During the same period in the previous year, the company posted $1.43 EPS. LGI Homes’s quarterly revenue was up 5.0% compared to the same quarter last year.

A number of equities research analysts recently issued reports on the company. ValuEngine raised LGI Homes from a “sell” rating to a “hold” rating in a research note on Wednesday. BidaskClub lowered LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 15th. JMP Securities reaffirmed a “buy” rating and issued a $68.00 target price on shares of LGI Homes in a research note on Wednesday, March 6th. Finally, Wells Fargo & Co upped their target price on LGI Homes from $58.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, February 27th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $62.70.

In other LGI Homes news, CEO Eric Thomas Lipar sold 40,478 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $56.76, for a total transaction of $2,297,531.28. Following the transaction, the chief executive officer now owns 591,685 shares of the company’s stock, valued at approximately $33,584,040.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Larry Snider sold 16,670 shares of the stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $60.05, for a total value of $1,001,033.50. Following the transaction, the insider now directly owns 200,876 shares in the company, valued at approximately $12,062,603.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,259 shares of company stock worth $7,061,262. Corporate insiders own 13.60% of the company’s stock.

Institutional investors have recently modified their holdings of the business. First Mercantile Trust Co. lifted its stake in shares of LGI Homes by 28.6% during the 4th quarter. First Mercantile Trust Co. now owns 3,407 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 757 shares during the period. Macquarie Group Ltd. lifted its stake in shares of LGI Homes by 514.4% during the 4th quarter. Macquarie Group Ltd. now owns 3,883 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 3,251 shares during the period. Gotham Asset Management LLC purchased a new position in shares of LGI Homes during the 4th quarter worth $210,000. Camelot Portfolios LLC purchased a new position in shares of LGI Homes during the 4th quarter worth $226,000. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of LGI Homes by 286.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,769 shares of the financial services provider’s stock worth $261,000 after purchasing an additional 4,275 shares during the period. 94.56% of the stock is currently owned by institutional investors.

LGIH stock traded down $0.30 on Friday, reaching $60.24. The company had a trading volume of 236,012 shares, compared to its average volume of 381,802. LGI Homes has a 1 year low of $37.16 and a 1 year high of $81.88. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.61 and a current ratio of 15.92. The firm has a market cap of $1.37 billion, a P/E ratio of 9.49, a PEG ratio of 0.80 and a beta of 0.57.

LGI Homes Company Profile

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

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Earnings History and Estimates for LGI Homes (NASDAQ:LGIH)

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