Wedbush Predicts LGI Homes’ FY2024 Earnings (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH) – Wedbush boosted their FY2024 earnings estimates for shares of LGI Homes in a report released on Tuesday, November 5th. Wedbush analyst J. Mccanless now expects that the financial services provider will post earnings per share of $9.02 for the year, up from their prior estimate of $8.59. Wedbush has a “Neutral” rating and a $125.00 price target on the stock. The consensus estimate for LGI Homes’ current full-year earnings is $8.82 per share. Wedbush also issued estimates for LGI Homes’ Q4 2024 earnings at $2.88 EPS, Q1 2025 earnings at $1.48 EPS, Q2 2025 earnings at $2.56 EPS, Q4 2025 earnings at $3.51 EPS and Q1 2026 earnings at $1.69 EPS.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.41. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The company had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. During the same quarter last year, the business posted $2.84 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis.

LGI Homes Stock Down 0.3 %

LGIH stock opened at $109.67 on Friday. The company has a current ratio of 12.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. LGI Homes has a 1 year low of $84.00 and a 1 year high of $136.89. The company has a fifty day simple moving average of $110.53 and a 200 day simple moving average of $102.61. The firm has a market cap of $2.58 billion, a PE ratio of 13.33 and a beta of 1.97.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LGIH. First Horizon Advisors Inc. increased its holdings in shares of LGI Homes by 32.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 108 shares during the period. Innealta Capital LLC acquired a new stake in shares of LGI Homes during the 2nd quarter valued at about $39,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of LGI Homes during the 3rd quarter valued at about $43,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of LGI Homes during the 1st quarter valued at about $52,000. Finally, KBC Group NV boosted its position in shares of LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 168 shares in the last quarter. Institutional investors own 84.89% 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.