LGI Homes, Inc. (LGIH) Posts Quarterly Earnings Results, Beats Estimates By $0.12 EPS
LGI Homes, Inc. (NASDAQ:LGIH) announced its quarterly earnings data on Tuesday. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.12, MarketWatch Earnings reports. The company had revenue of $324.20 million for the quarter, compared to analysts’ expectations of $317.63 million. LGI Homes had a net margin of 8.95% and a return on equity of 22.09%. The business’s revenue was up 45.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. LGI Homes updated its FY17 guidance to $4.25-4.75 EPS.
LGI Homes (LGIH) opened at 48.48 on Wednesday. The firm has a market capitalization of $1.05 billion, a PE ratio of 14.55 and a beta of 0.07. LGI Homes has a one year low of $26.82 and a one year high of $49.95. The firm has a 50 day moving average of $41.70 and a 200 day moving average of $34.09.
In related news, CEO Eric Thomas Lipar sold 10,000 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $42.59, for a total value of $425,900.00. Following the sale, the chief executive officer now owns 524,175 shares in the company, valued at approximately $22,324,613.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of LGIH. Heartland Advisors Inc. acquired a new stake in LGI Homes during the first quarter worth $23,805,000. Neumeier Poma Investment Counsel LLC boosted its stake in LGI Homes by 30.6% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 787,550 shares of the financial services provider’s stock worth $26,706,000 after buying an additional 184,750 shares during the period. Pictet Asset Management Ltd. boosted its stake in LGI Homes by 467.7% in the second quarter. Pictet Asset Management Ltd. now owns 215,227 shares of the financial services provider’s stock worth $6,973,000 after buying an additional 177,316 shares during the period. Boston Advisors LLC boosted its stake in LGI Homes by 352.5% in the first quarter. Boston Advisors LLC now owns 201,781 shares of the financial services provider’s stock worth $6,842,000 after buying an additional 157,192 shares during the period. Finally, Quantum Capital Management LLC NJ acquired a new stake in LGI Homes during the first quarter worth $4,091,000. Institutional investors and hedge funds own 87.66% of the company’s stock.
Several brokerages have recently issued reports on LGIH. J P Morgan Chase & Co cut shares of LGI Homes from an “overweight” rating to a “neutral” rating in a research note on Wednesday. BidaskClub raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Wedbush reaffirmed a “neutral” rating and issued a $35.00 price objective on shares of LGI Homes in a research note on Tuesday, July 4th. Wells Fargo & Company raised shares of LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price objective on the stock in a research note on Tuesday, May 16th. Finally, Zacks Investment Research cut shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the stock. LGI Homes has a consensus rating of “Buy” and an average target price of $39.00.
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About LGI Homes
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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