Q2 2024 EPS Estimates for LGI Homes, Inc. Lowered by Wedbush (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH) – Equities researchers at Wedbush reduced their Q2 2024 EPS estimates for shares of LGI Homes in a research report issued on Tuesday, April 30th. Wedbush analyst J. Mccanless now expects that the financial services provider will post earnings of $1.93 per share for the quarter, down from their previous forecast of $1.97. Wedbush currently has a “Underperform” rating and a $74.00 target price on the stock. The consensus estimate for LGI Homes’ current full-year earnings is $9.24 per share. Wedbush also issued estimates for LGI Homes’ Q3 2024 earnings at $2.65 EPS, Q4 2024 earnings at $3.03 EPS, FY2024 earnings at $8.33 EPS, Q1 2025 earnings at $1.17 EPS, Q2 2025 earnings at $2.68 EPS, Q3 2025 earnings at $2.92 EPS, Q4 2025 earnings at $3.60 EPS and FY2025 earnings at $10.37 EPS.

LGIH has been the topic of several other reports. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research report on Friday, April 5th. StockNews.com raised shares of LGI Homes from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, LGI Homes currently has an average rating of “Hold” and a consensus target price of $110.50.

LGI Homes Stock Performance

Shares of LGIH stock opened at $89.45 on Thursday. The company has a market capitalization of $2.11 billion, a P/E ratio of 11.18 and a beta of 1.86. LGI Homes has a 52 week low of $84.15 and a 52 week high of $141.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.42 and a current ratio of 12.36. The company’s 50 day moving average price is $105.59 and its two-hundred day moving average price is $113.50.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.30). LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. The business had revenue of $390.90 million during the quarter, compared to the consensus estimate of $400.00 million. During the same quarter last year, the company earned $1.14 earnings per share. The firm’s revenue was down 19.8% compared to the same quarter last year.

Hedge Funds Weigh In On LGI Homes

Several institutional investors and hedge funds have recently modified their holdings of LGIH. Janney Montgomery Scott LLC grew its stake in 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 during the last quarter. BNP Paribas Financial Markets grew its position in shares of LGI Homes by 28.6% in the first quarter. BNP Paribas Financial Markets now owns 34,290 shares of the financial services provider’s stock valued at $3,990,000 after purchasing an additional 7,616 shares during the last quarter. Raymond James & Associates increased its stake in shares of LGI Homes by 5.9% during the first quarter. Raymond James & Associates now owns 56,841 shares of the financial services provider’s stock worth $6,615,000 after purchasing an additional 3,173 shares during the period. Wasatch Advisors LP lifted its holdings in LGI Homes by 9.9% during the 1st quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock worth $169,929,000 after purchasing an additional 131,467 shares during the last quarter. Finally, Tributary Capital Management LLC boosted its stake in LGI Homes by 12.1% in the 1st quarter. Tributary Capital Management LLC now owns 149,945 shares of the financial services provider’s stock valued at $17,449,000 after purchasing an additional 16,203 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at LGI Homes

In related news, General Counsel Scott James Garber sold 1,212 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $111.95, for a total transaction of $135,683.40. Following the transaction, the general counsel now directly owns 13,824 shares in the company, valued at $1,547,596.80. The sale was disclosed in a filing with the SEC, which is available through this link. In other LGI Homes news, General Counsel Scott James Garber sold 1,212 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $111.95, for a total transaction of $135,683.40. Following the transaction, the general counsel now owns 13,824 shares of the company’s stock, valued at $1,547,596.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Michael Larry Snider sold 7,993 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $110.06, for a total value of $879,709.58. Following the completion of the sale, the chief operating officer now owns 19,016 shares in the company, valued at approximately $2,092,900.96. The disclosure for this sale can be found here. Insiders have sold a total of 26,435 shares of company stock worth $2,944,291 in the last 90 days. Corporate insiders own 12.40% of the company’s stock.

About LGI Homes

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.