LGI Homes, Inc. (LGIH) Updates FY17 Earnings Guidance
LGI Homes, Inc. (NASDAQ:LGIH) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $4.75-5.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.27.
Shares of LGI Homes, Inc. (NASDAQ:LGIH) traded up $1.78 during trading on Tuesday, reaching $63.71. 246,845 shares of the company’s stock traded hands, compared to its average volume of 292,674. The company has a debt-to-equity ratio of 1.09, a current ratio of 11.06 and a quick ratio of 0.91. LGI Homes, Inc. has a 12-month low of $26.82 and a 12-month high of $64.85. The company has a market cap of $1,380.00, a price-to-earnings ratio of 15.90, a PEG ratio of 1.23 and a beta of 0.20.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.12. LGI Homes had a net margin of 9.22% and a return on equity of 23.65%. The business had revenue of $324.20 million during the quarter, compared to analysts’ expectations of $317.63 million. During the same period in the previous year, the company earned $0.96 earnings per share. LGI Homes’s revenue for the quarter was up 45.6% on a year-over-year basis. sell-side analysts forecast that LGI Homes, Inc. will post 4.44 EPS for the current year.
A number of brokerages have recently weighed in on LGIH. Zacks Investment Research upgraded shares of LGI Homes from a hold rating to a strong-buy rating and set a $49.00 price objective for the company in a research note on Tuesday, July 18th. BidaskClub upgraded shares of LGI Homes from a buy rating to a strong-buy rating in a research note on Monday, July 24th. J P Morgan Chase & Co cut shares of LGI Homes from an overweight rating to a neutral rating and set a $49.00 price objective for the company. in a research note on Wednesday, August 9th. Wedbush cut shares of LGI Homes from an outperform rating to a neutral rating and reduced their price objective for the stock from $55.00 to $49.00 in a research note on Tuesday, October 3rd. Finally, ValuEngine upgraded shares of LGI Homes from a buy rating to a strong-buy rating in a research note on Saturday, September 30th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. LGI Homes currently has a consensus rating of Buy and a consensus price target of $49.40.
In related news, insider Michael Larry Snider sold 3,500 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $45.81, for a total transaction of $160,335.00. Following the completion of the transaction, the insider now directly owns 191,948 shares in the company, valued at approximately $8,793,137.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Thomas Lipar sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $54.27, for a total transaction of $1,356,750.00. Following the completion of the sale, the chief executive officer now directly owns 504,593 shares in the company, valued at approximately $27,384,262.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,500 shares of company stock valued at $2,674,585. Corporate insiders own 13.60% of the company’s stock.
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LGI Homes Company Profile
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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