LGI Homes (NASDAQ:LGIH) Releases Earnings Results, Beats Estimates By $0.41 EPS

LGI Homes (NASDAQ:LGIH) announced its quarterly earnings data on Tuesday. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.41, Briefing.com reports. The company had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.84 EPS.

LGI Homes Stock Down 0.3 %

Shares of NASDAQ:LGIH traded down $0.31 during trading on Thursday, reaching $109.67. 189,206 shares of the stock were exchanged, compared to its average volume of 212,002. The stock has a fifty day moving average of $110.47 and a two-hundred day moving average of $102.57. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 13.36 and a beta of 1.97. The company has a debt-to-equity ratio of 0.78, a current ratio of 12.63 and a quick ratio of 0.49. LGI Homes has a 1-year low of $84.00 and a 1-year high of $136.89.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LGIH shares. Wedbush reissued a “neutral” rating and set a $125.00 price target on shares of LGI Homes in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, LGI Homes presently has an average rating of “Hold” and a consensus target price of $126.00.

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.