LGI Homes (NASDAQ:LGIH) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

LGI Homes (NASDAQ:LGIH) released its quarterly earnings results on Tuesday. The financial services provider reported $2.48 EPS for the quarter, topping the consensus estimate of $2.24 by $0.24, Briefing.com reports. LGI Homes had a return on equity of 10.43% and a net margin of 8.37%. The business had revenue of $602.50 million during the quarter, compared to analysts’ expectations of $617.44 million. During the same quarter in the prior year, the business earned $2.25 earnings per share. The company’s quarterly revenue was down 6.6% compared to the same quarter last year.

LGI Homes Price Performance

LGI Homes stock traded down $4.33 during trading hours on Wednesday, hitting $115.07. The stock had a trading volume of 457,277 shares, compared to its average volume of 223,193. The company has a debt-to-equity ratio of 0.74, a current ratio of 12.36 and a quick ratio of 0.43. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 14.38 and a beta of 1.92. LGI Homes has a 1-year low of $84.00 and a 1-year high of $140.27. The stock’s fifty day moving average is $95.67 and its two-hundred day moving average is $104.67.

Analyst Ratings Changes

LGIH has been the topic of a number of recent analyst reports. Wedbush reaffirmed an “underperform” rating and set a $74.00 price objective on shares of LGI Homes in a report on Thursday, June 6th. StockNews.com lowered LGI Homes from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. dropped their price objective on LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of LGI Homes in a report on Friday, April 5th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, LGI Homes presently has an average rating of “Hold” and a consensus target price of $107.50.

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.