LGI Homes, Inc. (NASDAQ:LGIH – Free Report) – Analysts at Wedbush cut their Q3 2023 earnings per share estimates for LGI Homes in a research note issued on Thursday, October 5th. Wedbush analyst J. Mccanless now expects that the financial services provider will post earnings per share of $1.77 for the quarter, down from their prior estimate of $2.27. Wedbush has a “Neutral” rating and a $97.00 price target on the stock. The consensus estimate for LGI Homes’ current full-year earnings is $8.13 per share. Wedbush also issued estimates for LGI Homes’ Q4 2023 earnings at $2.22 EPS, FY2023 earnings at $7.38 EPS, Q1 2024 earnings at $2.15 EPS, Q2 2024 earnings at $2.84 EPS, Q3 2024 earnings at $3.12 EPS, Q4 2024 earnings at $3.68 EPS, FY2024 earnings at $11.78 EPS, Q2 2025 earnings at $3.38 EPS, Q3 2025 earnings at $3.74 EPS and FY2025 earnings at $14.31 EPS.
Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price target on LGI Homes from $90.00 to $105.00 and gave the stock an “underweight” rating in a research report on Monday, August 7th. TheStreet raised LGI Homes from a “c+” rating to a “b-” rating in a research report on Friday, August 4th. JMP Securities boosted their price objective on LGI Homes from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. StockNews.com initiated coverage on LGI Homes in a research report on Thursday. They set a “sell” rating for the company. Finally, Seaport Res Ptn reissued a “buy” rating on shares of LGI Homes in a research report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, LGI Homes currently has an average rating of “Hold” and an average price target of $116.25.
LGI Homes Price Performance
Shares of NASDAQ:LGIH opened at $95.86 on Monday. LGI Homes has a fifty-two week low of $74.61 and a fifty-two week high of $141.91. The business has a 50-day moving average of $117.89 and a two-hundred day moving average of $120.69. The stock has a market capitalization of $2.26 billion, a P/E ratio of 11.03 and a beta of 1.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 8.49 and a quick ratio of 0.35.
LGI Homes (NASDAQ:LGIH – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.35. LGI Homes had a return on equity of 12.30% and a net margin of 9.44%. The company had revenue of $645.70 million during the quarter, compared to analysts’ expectations of $638.05 million. During the same quarter in the previous year, the firm earned $5.20 earnings per share. The business’s quarterly revenue was down 10.7% compared to the same quarter last year.
Hedge Funds Weigh In On LGI Homes
Several institutional investors and hedge funds have recently added to or reduced their stakes in LGIH. Dark Forest Capital Management LP bought a new stake in shares of LGI Homes in the 1st quarter valued at approximately $27,000. WealthPLAN Partners LLC bought a new stake in shares of LGI Homes in the 1st quarter valued at approximately $32,000. Versant Capital Management Inc grew its stake in shares of LGI Homes by 3,111.1% in the 1st quarter. Versant Capital Management Inc now owns 289 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 280 shares during the period. Strs Ohio bought a new stake in shares of LGI Homes in the 2nd quarter valued at approximately $67,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of LGI Homes by 20.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 631 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 108 shares during the period. 89.43% of the stock is currently owned by institutional investors.
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 institutions looking to acquire single-family rental properties.
Further Reading
- Five stocks we like better than LGI Homes
- What is a Non-Fungible Token (NFT)? Definition and How it Works
- How To Find Value Stocks Using This Simple Filtering Method
- What Are Dividend Challengers?
- MarketBeat Week in Review – 10/2 – 10/6
- Want to Profit on the Downtrend? Downtrends, Explained.
- Levi Strauss: A Bottom is in for Steady, Stable Dividend Payer
Receive News & Ratings for LGI Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes and related companies with MarketBeat.com's FREE daily email newsletter.
