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

LGI Homes Inc (NASDAQ:LGIH) – Stock analysts at Wedbush cut their Q3 2019 earnings per share estimates for shares of LGI Homes in a research report issued to clients and investors on Thursday, October 17th. Wedbush analyst J. Mccanless now expects that the financial services provider will post earnings of $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.

LGI Homes (NASDAQ:LGIH) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $1.82 earnings per share for the quarter, beating the 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 the consensus estimate of $465.08 million. During the same quarter in the previous year, the company posted $1.90 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis.

Several other analysts have also recently commented on LGIH. BTIG Research lifted their price target on LGI Homes from $62.00 to $65.00 and gave the company a “sell” rating in a report on Monday, September 23rd. JMP Securities lifted their price target on LGI Homes from $83.00 to $89.00 and gave the company a “market outperform” rating in a report on Friday, September 6th. ValuEngine cut LGI Homes from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Wells Fargo & Co lifted their price target on LGI Homes from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, September 13th. Finally, Zacks Investment Research cut LGI Homes from a “hold” rating to a “sell” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. LGI Homes currently has a consensus rating of “Hold” and an average price target of $83.30.

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

In other news, Director Bryan Christopher Sansbury sold 8,949 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $80.91, for a total transaction of $724,063.59. Following the completion of the sale, the director now owns 160,121 shares in the company, valued at approximately $12,955,390.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Thomas Lipar sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 528,058 shares of the company’s stock, valued at approximately $42,392,496.24. The disclosure for this sale can be found here. 13.40% of the stock is owned by insiders.

Several large investors have recently modified their holdings of LGIH. Marshall Wace North America L.P. acquired a new stake in shares of LGI Homes in the first quarter valued at about $394,000. Nordea Investment Management AB raised its position in shares of LGI Homes by 0.5% in the first quarter. Nordea Investment Management AB now owns 103,398 shares of the financial services provider’s stock valued at $6,229,000 after buying an additional 529 shares during the last quarter. First Trust Advisors LP raised its position in shares of LGI Homes by 100.7% in the first quarter. First Trust Advisors LP now owns 63,298 shares of the financial services provider’s stock valued at $3,813,000 after buying an additional 31,761 shares during the last quarter. Scout Investments Inc. raised its position in shares of LGI Homes by 65.1% in the second quarter. Scout Investments Inc. now owns 105,558 shares of the financial services provider’s stock valued at $7,540,000 after buying an additional 41,621 shares during the last quarter. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of LGI Homes in the second quarter valued at about $233,000. Institutional investors and hedge funds own 94.56% of the company’s stock.

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.

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

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