Wedbush Analysts Decrease Earnings Estimates for LGI Homes Inc (NASDAQ:LGIH)

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LGI Homes Inc (NASDAQ:LGIH) – Wedbush lowered their Q3 2019 earnings estimates for LGI Homes in a report issued on Thursday, October 17th. Wedbush analyst J. Mccanless now forecasts that the financial services provider will earn $1.85 per share for the quarter, down from their previous estimate of $1.94. Wedbush also issued estimates for LGI Homes’ Q4 2019 earnings at $2.31 EPS, FY2019 earnings at $6.72 EPS, Q1 2020 earnings at $1.16 EPS, Q2 2020 earnings at $2.17 EPS, Q3 2020 earnings at $2.22 EPS, Q4 2020 earnings at $2.47 EPS, FY2020 earnings at $8.03 EPS, Q1 2021 earnings at $1.25 EPS, Q2 2021 earnings at $2.26 EPS, Q3 2021 earnings at $2.42 EPS and FY2021 earnings at $8.68 EPS.

LGIH has been the subject of a number of other research reports. ValuEngine lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. BidaskClub raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 18th. Wells Fargo & Co increased their target price on shares of LGI Homes from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Zacks Investment Research lowered shares of LGI Homes from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered shares of LGI Homes from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $77.00 to $84.50 in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $83.30.

Shares of LGIH opened at $83.26 on Monday. The company has a current ratio of 15.20, a quick ratio of 1.34 and a debt-to-equity ratio of 0.92. LGI Homes has a 12-month low of $37.16 and a 12-month high of $89.00. The firm has a 50-day moving average price of $82.77 and a 200 day moving average price of $74.51. The firm has a market capitalization of $1.95 billion, a P/E ratio of 13.11 and a beta of 0.49.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.62 by $0.20. LGI Homes had a net margin of 9.31% and a return on equity of 21.68%. The firm had revenue of $461.83 million during the quarter, compared to analyst estimates of $465.08 million. During the same quarter in the prior year, the firm posted $1.90 earnings per share. LGI Homes’s quarterly revenue was up 10.0% on a year-over-year basis.

In other LGI Homes news, CEO Eric Thomas Lipar sold 25,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $80.28, for a total transaction of $2,007,000.00. Following the completion of the transaction, the chief executive officer now owns 528,058 shares of the company’s stock, valued at $42,392,496.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bryan Christopher Sansbury sold 8,949 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $80.91, for a total transaction of $724,063.59. Following the completion of the transaction, the director now directly owns 160,121 shares of the company’s stock, valued at approximately $12,955,390.11. The disclosure for this sale can be found here. Company insiders own 13.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brookstone Capital Management raised its holdings in LGI Homes by 4.7% during the third quarter. Brookstone Capital Management now owns 7,356 shares of the financial services provider’s stock worth $613,000 after purchasing an additional 332 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in LGI Homes by 21.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,187 shares of the financial services provider’s stock worth $99,000 after purchasing an additional 206 shares in the last quarter. NEXT Financial Group Inc grew its position in shares of LGI Homes by 14.2% during the third quarter. NEXT Financial Group Inc now owns 3,167 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 394 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of LGI Homes during the third quarter worth approximately $243,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of LGI Homes during the third quarter worth approximately $732,000. 94.56% of the stock is owned by institutional investors and hedge funds.

LGI Homes Company Profile

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

Further Reading: Strangles

Earnings History and Estimates for LGI Homes (NASDAQ:LGIH)

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