Landsea Homes (NASDAQ:LSEA) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Landsea Homes (NASDAQ:LSEA) announced its quarterly earnings data on Wednesday. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07), Zacks reports. The business had revenue of $294.04 million during the quarter, compared to analyst estimates of $277.30 million. Landsea Homes had a net margin of 2.08% and a return on equity of 6.11%. During the same quarter last year, the firm posted $0.18 EPS.

Landsea Homes Stock Performance

NASDAQ:LSEA traded down $0.06 during mid-day trading on Friday, reaching $9.78. The stock had a trading volume of 250,818 shares, compared to its average volume of 208,105. Landsea Homes has a twelve month low of $7.00 and a twelve month high of $14.91. The business has a 50 day simple moving average of $12.42 and a 200 day simple moving average of $11.52. The firm has a market capitalization of $353.55 million, a price-to-earnings ratio of 14.38 and a beta of 1.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.37 and a current ratio of 2.37.

Insiders Place Their Bets

In other Landsea Homes news, major shareholder Holdings Corp Landsea sold 2,800,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $11.60, for a total value of $32,480,000.00. Following the completion of the transaction, the insider now owns 16,940,729 shares in the company, valued at $196,512,456.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Michael Forsum acquired 17,241 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was purchased at an average cost of $11.60 per share, with a total value of $199,995.60. Following the purchase, the chief operating officer now directly owns 446,682 shares of the company’s stock, valued at approximately $5,181,511.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Holdings Corp Landsea sold 2,800,000 shares of Landsea Homes stock in a transaction on Friday, March 8th. The stock was sold at an average price of $11.60, for a total value of $32,480,000.00. Following the transaction, the insider now directly owns 16,940,729 shares of the company’s stock, valued at $196,512,456.40. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 20,430 shares of company stock worth $236,988. Company insiders own 66.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LSEA shares. Barclays dropped their price target on shares of Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday. Wedbush reissued an “outperform” rating and set a $16.00 target price on shares of Landsea Homes in a research report on Wednesday.

Landsea Homes Company Profile

Landsea Homes Corporation engages in the design, construction, marketing, and sale of suburban and urban single-family detached and attached homes in the United States. The company develops homes and communities; builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities.