Analysts expect LGI Homes Inc (NASDAQ:LGIH) to post $493.20 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for LGI Homes’ earnings, with estimates ranging from $492.00 million to $494.00 million. LGI Homes reported sales of $380.37 million during the same quarter last year, which would suggest a positive year over year growth rate of 29.7%. The firm is expected to issue its next quarterly earnings report on Tuesday, November 5th.
On average, analysts expect that LGI Homes will report full year sales of $1.80 billion for the current financial year, with estimates ranging from $1.78 billion to $1.80 billion. For the next year, analysts forecast that the business will post sales of $2.10 billion, with estimates ranging from $2.06 billion to $2.17 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for LGI Homes.
LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.20. LGI Homes had a return on equity of 21.68% and a net margin of 9.31%. The business had revenue of $461.83 million during the quarter, compared to analysts’ expectations of $465.08 million. During the same period in the prior year, the business earned $1.90 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year.
Shares of LGIH stock traded down $0.42 during mid-day trading on Wednesday, hitting $75.57. The stock had a trading volume of 135,467 shares, compared to its average volume of 260,782. LGI Homes has a 12-month low of $37.16 and a 12-month high of $77.50. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 11.90 and a beta of 0.56. The stock has a 50-day moving average of $71.91. The company has a quick ratio of 1.35, a current ratio of 15.20 and a debt-to-equity ratio of 0.92.
In related news, Director Steven Randal Smith sold 2,500 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $74.49, for a total transaction of $186,225.00. Following the transaction, the director now directly owns 12,407 shares of the company’s stock, valued at approximately $924,197.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Thomas Lipar sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $70.91, for a total value of $709,100.00. Following the transaction, the chief executive officer now directly owns 544,509 shares in the company, valued at $38,611,133.19. The disclosure for this sale can be found here. Corporate insiders own 13.40% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Mason Street Advisors LLC increased its holdings in shares of LGI Homes by 3.4% in the first quarter. Mason Street Advisors LLC now owns 5,980 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 195 shares during the period. Campbell Newman Asset Management Inc. increased its holdings in shares of LGI Homes by 2.5% in the first quarter. Campbell Newman Asset Management Inc. now owns 8,017 shares of the financial services provider’s stock valued at $483,000 after purchasing an additional 197 shares during the period. Prudential Financial Inc. increased its holdings in shares of LGI Homes by 0.8% in the second quarter. Prudential Financial Inc. now owns 30,256 shares of the financial services provider’s stock valued at $2,161,000 after purchasing an additional 246 shares during the period. Piedmont Investment Advisors Inc. increased its holdings in shares of LGI Homes by 6.2% in the first quarter. Piedmont Investment Advisors Inc. now owns 4,706 shares of the financial services provider’s stock valued at $283,000 after purchasing an additional 276 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of LGI Homes by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,902 shares of the financial services provider’s stock valued at $583,000 after purchasing an additional 283 shares during the period. 94.24% of the stock is currently owned by institutional investors.
About LGI Homes
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.
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