LGI Homes (NASDAQ:LGIH) Releases Quarterly Earnings Results, Beats Estimates By $0.41 EPS

LGI Homes (NASDAQ:LGIH) released its earnings results on Tuesday. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.41, Briefing.com reports. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. The business had revenue of $651.85 million for the quarter, compared to the consensus estimate of $645.27 million. During the same quarter in the previous year, the business earned $2.84 earnings per share. LGI Homes’s quarterly revenue was up 5.6% on a year-over-year basis.

LGI Homes Price Performance

NASDAQ:LGIH opened at $109.98 on Thursday. LGI Homes has a 12-month low of $84.00 and a 12-month high of $136.89. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 13.36 and a beta of 1.97. The stock’s 50 day moving average price is $110.47 and its two-hundred day moving average price is $102.57. The company has a quick ratio of 0.49, a current ratio of 12.63 and a debt-to-equity ratio of 0.78.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wedbush reaffirmed a “neutral” rating and set a $125.00 price target on shares of LGI Homes in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $126.00.

About LGI Homes

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.