LGI Homes Inc to Post Q3 2017 Earnings of $1.49 Per Share, Wedbush Forecasts (LGIH)
LGI Homes Inc (NASDAQ:LGIH) – Analysts at Wedbush lifted their Q3 2017 earnings estimates for LGI Homes in a research report issued to clients and investors on Thursday. Wedbush analyst J. Mccanless now expects that the financial services provider will earn $1.49 per share for the quarter, up from their previous estimate of $1.11. Wedbush has a “Neutral” rating and a $49.00 price objective on the stock. Wedbush also issued estimates for LGI Homes’ FY2017 earnings at $4.94 EPS, Q1 2018 earnings at $0.75 EPS, Q2 2018 earnings at $1.82 EPS, Q3 2018 earnings at $1.89 EPS and Q4 2018 earnings at $1.98 EPS.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.12. The business had revenue of $324.20 million during the quarter, compared to the consensus estimate of $317.63 million. LGI Homes had a return on equity of 33.13% and a net margin of 9.93%. The business’s revenue was up 45.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 earnings per share.
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Several other brokerages have also recently weighed in on LGIH. BidaskClub raised shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Deutsche Bank AG upped their price objective on shares of LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research cut shares of LGI Homes from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 12th. ValuEngine cut shares of LGI Homes from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Finally, 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 on the stock. in a research note on Wednesday, August 9th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $47.00.
LGI Homes (NASDAQ LGIH) opened at 52.98 on Monday. The stock’s 50 day moving average price is $45.81 and its 200 day moving average price is $39.27. LGI Homes has a 12 month low of $26.82 and a 12 month high of $54.84. The firm has a market capitalization of $1.15 billion, a P/E ratio of 14.07 and a beta of 0.11.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of LGI Homes by 85.3% during the first quarter. Victory Capital Management Inc. now owns 3,090 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 1,422 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of LGI Homes by 14.2% during the first quarter. BNP Paribas Arbitrage SA now owns 3,238 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 402 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of LGI Homes by 82.4% during the second quarter. State of Alaska Department of Revenue now owns 3,393 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 1,533 shares during the last quarter. Mason Street Advisors LLC grew its stake in shares of LGI Homes by 7.0% during the first quarter. Mason Street Advisors LLC now owns 3,981 shares of the financial services provider’s stock valued at $135,000 after purchasing an additional 260 shares during the last quarter. Finally, Invictus RG bought a new stake in shares of LGI Homes during the first quarter valued at approximately $193,000. 93.37% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Eric Thomas Lipar sold 10,000 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $42.59, for a total transaction of $425,900.00. Following the sale, the chief executive officer now directly owns 524,175 shares of the company’s stock, valued at $22,324,613.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Larry Snider sold 3,500 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 191,948 shares in the company, valued at $8,793,137.88. The disclosure for this sale can be found here. Insiders have sold 38,500 shares of company stock worth $1,743,735 over the last three months. 13.60% of the stock is owned by insiders.
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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