LGI Homes, Inc. (NASDAQ:LGIH) Forecasted to Post FY2024 Earnings of $9.10 Per Share

LGI Homes, Inc. (NASDAQ:LGIH) – Seaport Res Ptn decreased their FY2024 earnings estimates for shares of LGI Homes in a research report issued to clients and investors on Sunday, August 4th. Seaport Res Ptn analyst K. Zener now expects that the financial services provider will earn $9.10 per share for the year, down from their prior forecast of $9.49. The consensus estimate for LGI Homes’ current full-year earnings is $8.82 per share. Seaport Res Ptn also issued estimates for LGI Homes’ Q4 2024 earnings at $2.71 EPS and FY2025 earnings at $10.61 EPS.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.24. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The firm had revenue of $602.50 million for the quarter, compared to the consensus estimate of $617.44 million. During the same period in the prior year, the firm posted $2.25 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year.

A number of other research analysts also recently issued reports on LGIH. StockNews.com downgraded shares of LGI Homes from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. reduced their price target on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Finally, Wedbush reaffirmed an “underperform” rating and issued a $74.00 price objective on shares of LGI Homes in a report on Thursday, June 6th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, LGI Homes has a consensus rating of “Hold” and an average price target of $109.00.

LGI Homes Trading Up 2.5 %

LGI Homes stock opened at $99.34 on Wednesday. The firm’s 50-day moving average is $97.00 and its 200-day moving average is $104.03. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.43 and a current ratio of 12.63. LGI Homes has a 1 year low of $84.00 and a 1 year high of $138.80. The company has a market cap of $2.34 billion, a P/E ratio of 12.42 and a beta of 1.92.

Hedge Funds Weigh In On LGI Homes

Several large investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. increased its stake in LGI Homes by 35.8% during the 4th quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock valued at $47,000 after buying an additional 93 shares during the period. Louisiana State Employees Retirement System increased its stake in LGI Homes by 1.0% during the 2nd quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the financial services provider’s stock valued at $922,000 after buying an additional 100 shares during the period. Arcadia Investment Management Corp MI increased its stake in LGI Homes by 18.4% during the 4th quarter. Arcadia Investment Management Corp MI now owns 722 shares of the financial services provider’s stock valued at $96,000 after buying an additional 112 shares during the period. Arizona State Retirement System increased its stake in LGI Homes by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock valued at $532,000 after buying an additional 112 shares during the period. Finally, Sei Investments Co. increased its stake in LGI Homes by 3.3% during the 1st quarter. Sei Investments Co. now owns 3,970 shares of the financial services provider’s stock valued at $462,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Company Profile

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.