LGI Homes, Inc. (NASDAQ:LGIH) Updates FY17 Earnings Guidance
LGI Homes, Inc. (NASDAQ:LGIH) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.25-4.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.02.
Shares of LGI Homes, Inc. (NASDAQ LGIH) traded down 6.1417% during trading on Wednesday, reaching $45.5025. The company’s stock had a trading volume of 230,322 shares. The company has a market capitalization of $982.81 million, a price-to-earnings ratio of 13.6603 and a beta of 0.07. LGI Homes, Inc. has a one year low of $26.82 and a one year high of $48.23. The firm’s 50-day moving average price is $41.70 and its 200-day moving average price is $34.09.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.12. The firm had revenue of $324.20 million during the quarter, compared to the consensus estimate of $317.63 million. LGI Homes had a net margin of 8.95% and a return on equity of 22.09%. The company’s revenue for the quarter was up 45.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 EPS. On average, equities analysts anticipate that LGI Homes, Inc. will post $4.06 earnings per share for the current year.
Several brokerages recently weighed in on LGIH. J P Morgan Chase & Co downgraded shares of LGI Homes from an overweight rating to a neutral rating in a report on Wednesday. BidaskClub raised shares of LGI Homes from a buy rating to a strong-buy rating in a report on Monday, July 24th. Zacks Investment Research raised shares of LGI Homes from a hold rating to a strong-buy rating and set a $49.00 target price for the company in a report on Tuesday, July 18th. Wedbush reaffirmed a neutral rating and issued a $35.00 target price on shares of LGI Homes in a report on Tuesday, July 4th. Finally, ValuEngine downgraded shares of LGI Homes from a strong-buy rating to a buy rating in a report on Tuesday, June 20th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $39.00.
In related news, CEO Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $42.59, for a total value of $425,900.00. Following the completion of the transaction, the chief executive officer now owns 524,175 shares of the company’s stock, valued at approximately $22,324,613.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.60% of the company’s stock.
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LGI Homes Company Profile
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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