FY2019 EPS Estimates for LGI Homes Inc (NASDAQ:LGIH) Cut by Wedbush

LGI Homes Inc (NASDAQ:LGIH) – Equities research analysts at Wedbush dropped their FY2019 earnings per share estimates for LGI Homes in a research note issued on Tuesday, November 5th. Wedbush analyst J. Mccanless now forecasts that the financial services provider will post earnings of $6.61 per share for the year, down from their prior forecast of $6.72. Wedbush also issued estimates for LGI Homes’ Q4 2019 earnings at $2.12 EPS, Q1 2020 earnings at $1.11 EPS, Q2 2020 earnings at $2.08 EPS, Q3 2020 earnings at $2.13 EPS, Q4 2020 earnings at $2.37 EPS, FY2020 earnings at $7.68 EPS, Q1 2021 earnings at $1.20 EPS, Q2 2021 earnings at $2.16 EPS, Q3 2021 earnings at $2.31 EPS and FY2021 earnings at $8.31 EPS.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.89 by $0.04. The business had revenue of $483.10 million during the quarter, compared to the consensus estimate of $486.83 million. LGI Homes had a return on equity of 22.07% and a net margin of 9.43%. The business’s revenue was up 27.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 earnings per share.

LGIH has been the subject of several other reports. BidaskClub downgraded LGI Homes from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine downgraded LGI Homes from a “sell” rating to a “strong sell” rating in a research report on Tuesday. JMP Securities upped their target price on LGI Homes from $83.00 to $89.00 and gave the stock a “market outperform” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. downgraded LGI Homes from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $77.00 to $84.50 in a research report on Wednesday, September 11th. Finally, Wells Fargo & Co upped their target price on LGI Homes from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $83.30.

Shares of NASDAQ LGIH opened at $70.30 on Friday. The company has a current ratio of 14.90, a quick ratio of 1.34 and a debt-to-equity ratio of 0.97. The stock has a 50 day simple moving average of $82.05 and a 200-day simple moving average of $75.49. The company has a market cap of $1.66 billion, a PE ratio of 11.07 and a beta of 0.47. LGI Homes has a 12-month low of $37.77 and a 12-month high of $89.00.

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

Several large investors have recently made changes to their positions in LGIH. Balyasny Asset Management LLC lifted its position in shares of LGI Homes by 119.5% during the 2nd quarter. Balyasny Asset Management LLC now owns 366,770 shares of the financial services provider’s stock valued at $26,198,000 after acquiring an additional 199,664 shares during the last quarter. Wasatch Advisors Inc. lifted its position in shares of LGI Homes by 14.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,512,176 shares of the financial services provider’s stock valued at $108,015,000 after acquiring an additional 192,634 shares during the last quarter. BlackRock Inc. lifted its position in shares of LGI Homes by 6.6% during the 2nd quarter. BlackRock Inc. now owns 3,082,158 shares of the financial services provider’s stock valued at $220,160,000 after acquiring an additional 191,656 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of LGI Homes during the 3rd quarter valued at $11,874,000. Finally, Carillon Tower Advisers Inc. lifted its position in shares of LGI Homes by 205.4% during the 3rd quarter. Carillon Tower Advisers Inc. now owns 193,801 shares of the financial services provider’s stock valued at $16,417,000 after acquiring an additional 130,346 shares during the last quarter. Institutional investors own 94.15% of the company’s stock.

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.

Featured Article: Dead Cat Bounce

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

Receive News & Ratings for LGI Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes and related companies with MarketBeat.com's FREE daily email newsletter.