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

Landsea Homes (NASDAQ:LSEA) posted its quarterly earnings data on Wednesday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.07), Zacks reports. Landsea Homes had a return on equity of 6.80% and a net margin of 2.42%. The firm had revenue of $294.04 million for the quarter, compared to analysts’ expectations of $277.30 million. During the same quarter last year, the firm posted $0.18 earnings per share.

Landsea Homes Stock Down 3.1 %

LSEA traded down $0.31 during midday trading on Thursday, hitting $9.84. The company had a trading volume of 326,986 shares, compared to its average volume of 216,877. Landsea Homes has a 52 week low of $7.00 and a 52 week high of $14.91. The company has a market capitalization of $355.72 million, a price-to-earnings ratio of 12.83 and a beta of 1.11. The stock’s 50 day moving average price is $12.49 and its 200 day moving average price is $11.52. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.34.

Insider Transactions at Landsea Homes

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

Wall Street Analysts Forecast Growth

LSEA has been the topic of several recent analyst reports. Barclays reduced their target price on Landsea Homes from $14.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $16.00 price target on shares of Landsea Homes in a research note 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.