Equities research analysts forecast that LGI Homes Inc (NASDAQ:LGIH) will announce sales of $408.49 million for the current quarter, according to Zacks. Four analysts have provided estimates for LGI Homes’ earnings, with the highest sales estimate coming in at $423.40 million and the lowest estimate coming in at $393.64 million. LGI Homes posted sales of $365.90 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.6%. The company is expected to issue its next earnings report on Tuesday, November 6th.
On average, analysts expect that LGI Homes will report full-year sales of $1.56 billion for the current fiscal year, with estimates ranging from $1.55 billion to $1.58 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.91 billion per share, with estimates ranging from $1.68 billion to $2.03 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover LGI Homes.
LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, August 7th. The financial services provider reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.68 by $0.22. LGI Homes had a return on equity of 28.50% and a net margin of 9.81%. The company had revenue of $419.85 million during the quarter, compared to the consensus estimate of $414.52 million.
A number of research analysts recently weighed in on the company. BidaskClub raised LGI Homes from a “hold” rating to a “buy” rating in a research note on Tuesday, May 8th. ValuEngine downgraded LGI Homes from a “buy” rating to a “hold” rating in a research note on Monday, May 14th. Zacks Investment Research raised LGI Homes from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, Wedbush set a $65.00 price objective on LGI Homes and gave the company a “neutral” rating in a research note on Friday, July 6th. Two 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. The company currently has an average rating of “Hold” and an average target price of $64.67.
LGIH opened at $58.63 on Wednesday. LGI Homes has a fifty-two week low of $40.73 and a fifty-two week high of $81.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 15.32 and a quick ratio of 1.47. The stock has a market cap of $1.27 billion and a PE ratio of 12.40.
Hedge funds have recently modified their holdings of the stock. Comerica Bank increased its position in LGI Homes by 5.2% in the 1st quarter. Comerica Bank now owns 18,746 shares of the financial services provider’s stock worth $1,335,000 after buying an additional 921 shares during the period. United Services Automobile Association increased its position in LGI Homes by 26.4% in the 2nd quarter. United Services Automobile Association now owns 4,741 shares of the financial services provider’s stock worth $274,000 after buying an additional 989 shares during the period. Rhumbline Advisers increased its position in LGI Homes by 2.9% in the 1st quarter. Rhumbline Advisers now owns 41,295 shares of the financial services provider’s stock worth $2,914,000 after buying an additional 1,176 shares during the period. Prudential Financial Inc. increased its position in LGI Homes by 4.4% in the 1st quarter. Prudential Financial Inc. now owns 29,530 shares of the financial services provider’s stock worth $2,084,000 after buying an additional 1,250 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in LGI Homes by 11.9% in the 1st quarter. Thrivent Financial for Lutherans now owns 12,014 shares of the financial services provider’s stock worth $848,000 after buying an additional 1,282 shares during the period. 89.31% of the stock is currently owned by institutional investors and hedge funds.
About LGI Homes
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington, Tennessee, and Minnesota markets. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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