Landsea Homes (NASDAQ:LSEA) Announces Earnings Results, Beats Estimates By $0.04 EPS

Landsea Homes (NASDAQ:LSEA) issued its quarterly earnings data on Thursday. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.04, Zacks reports. Landsea Homes had a return on equity of 6.25% and a net margin of 1.72%. The firm had revenue of $431.14 million during the quarter, compared to analyst estimates of $336.20 million. During the same quarter last year, the firm earned $0.33 EPS.

Landsea Homes Stock Performance

LSEA traded down $0.85 during trading hours on Friday, hitting $11.74. 231,606 shares of the stock were exchanged, compared to its average volume of 174,650. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.13 and a quick ratio of 2.13. Landsea Homes has a 12 month low of $7.00 and a 12 month high of $14.91. The stock has a 50-day simple moving average of $10.06 and a 200-day simple moving average of $11.34. The stock has a market cap of $424.75 million, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.11.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wedbush raised their price target on shares of Landsea Homes from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays boosted their target price on shares of Landsea Homes from $10.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Oppenheimer assumed coverage on shares of Landsea Homes in a research note on Friday, May 31st. They issued an “outperform” rating and a $14.00 target price on the stock.

Insider Buying and Selling at Landsea Homes

In other news, Director Ming Tian sold 450,000 shares of Landsea Homes stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $9.53, for a total value of $4,288,500.00. Following the completion of the transaction, the director now directly owns 12,290,729 shares of the company’s stock, valued at approximately $117,130,647.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Mollie Fadule bought 10,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were purchased at an average cost of $9.78 per share, with a total value of $97,800.00. Following the completion of the transaction, the director now directly owns 71,727 shares of the company’s stock, valued at $701,490.06. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ming Tian sold 450,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $9.53, for a total transaction of $4,288,500.00. Following the transaction, the director now directly owns 12,290,729 shares of the company’s stock, valued at approximately $117,130,647.37. The disclosure for this sale can be found here. Insiders sold a total of 4,567,162 shares of company stock worth $29,057,772 over the last 90 days. Insiders own 51.00% of the company’s stock.

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.