LGI Homes Inc (NASDAQ:LGIH) Expected to Announce Quarterly Sales of $590.05 Million

Wall Street brokerages forecast that LGI Homes Inc (NASDAQ:LGIH) will post sales of $590.05 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for LGI Homes’ earnings. The highest sales estimate is $606.50 million and the lowest is $573.60 million. LGI Homes posted sales of $425.16 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 38.8%. The firm is scheduled to announce its next earnings results before the market opens on Tuesday, February 25th.

According to Zacks, analysts expect that LGI Homes will report full year sales of $1.82 billion for the current financial year, with estimates ranging from $1.81 billion to $1.84 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.10 billion, with estimates ranging from $2.06 billion to $2.13 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover LGI Homes.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.04. The company 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 firm’s revenue for the quarter was up 27.0% compared to the same quarter last year. During the same period last year, the business posted $1.52 EPS.

LGIH has been the subject of several research reports. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Friday, January 10th. BidaskClub upgraded LGI Homes from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. ValuEngine downgraded LGI Homes from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 14th. Finally, BTIG Research raised their target price on LGI Homes from $62.00 to $65.00 and gave the company a “sell” rating in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $83.70.

In other LGI Homes news, Director Bryan Christopher Sansbury sold 9,200 shares of LGI Homes stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $72.00, for a total transaction of $662,400.00. Following the completion of the transaction, the director now owns 17,353 shares in the company, valued at approximately $1,249,416. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ryan Edone sold 1,500 shares of LGI Homes stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $73.45, for a total value of $110,175.00. Following the transaction, the director now owns 28,125 shares of the company’s stock, valued at approximately $2,065,781.25. The disclosure for this sale can be found here. Company insiders own 13.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in LGIH. Point72 Asset Management L.P. acquired a new position in LGI Homes during the 3rd quarter valued at about $25,000. US Bancorp DE boosted its stake in shares of LGI Homes by 1,332.6% in the 2nd quarter. US Bancorp DE now owns 659 shares of the financial services provider’s stock worth $47,000 after buying an additional 613 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of LGI Homes by 21.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,187 shares of the financial services provider’s stock worth $99,000 after buying an additional 206 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of LGI Homes by 379.4% in the 2nd quarter. Bank of Montreal Can now owns 2,114 shares of the financial services provider’s stock worth $151,000 after buying an additional 1,673 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in shares of LGI Homes in the 2nd quarter worth approximately $201,000. Institutional investors and hedge funds own 96.37% of the company’s stock.

Shares of LGIH traded down $0.20 during trading hours on Tuesday, hitting $78.74. The stock had a trading volume of 272,158 shares, compared to its average volume of 219,409. The company has a debt-to-equity ratio of 0.97, a current ratio of 14.90 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $72.97 and a 200-day simple moving average of $76.15. The firm has a market capitalization of $1.81 billion, a P/E ratio of 12.73 and a beta of 0.44. LGI Homes has a 1-year low of $52.16 and a 1-year high of $89.00.

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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