Seaport Res Ptn Comments on LGI Homes, Inc.’s Q3 2024 Earnings (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH) – Investment analysts at Seaport Res Ptn boosted their Q3 2024 EPS estimates for shares of LGI Homes in a research note issued on Sunday, August 4th. Seaport Res Ptn analyst K. Zener now forecasts that the financial services provider will earn $3.18 per share for the quarter, up from their prior forecast of $2.94. The consensus estimate for LGI Homes’ current full-year earnings is $8.82 per share.

Other equities analysts also recently issued reports about the stock. Wedbush reaffirmed an “underperform” rating and issued a $74.00 target price on shares of LGI Homes in a research note on Thursday, June 6th. JPMorgan Chase & Co. dropped their target price on LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Finally, StockNews.com cut LGI Homes from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $109.00.

LGI Homes Stock Down 5.0 %

Shares of NASDAQ:LGIH opened at $96.90 on Tuesday. The company has a market capitalization of $2.28 billion, a PE ratio of 12.11 and a beta of 1.92. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.43 and a current ratio of 12.63. The company’s fifty day moving average is $96.92 and its 200-day moving average is $104.06. LGI Homes has a 52 week low of $84.00 and a 52 week high of $138.80.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.24. The firm had revenue of $602.50 million for the quarter, compared to analyst estimates of $617.44 million. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 EPS.

Hedge Funds Weigh In On LGI Homes

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wasatch Advisors LP increased its holdings in shares of LGI Homes by 4.3% in the fourth quarter. Wasatch Advisors LP now owns 1,328,778 shares of the financial services provider’s stock worth $176,940,000 after acquiring an additional 54,606 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of LGI Homes in the 1st quarter valued at about $583,000. CDAM UK Ltd lifted its holdings in shares of LGI Homes by 14.7% in the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock valued at $89,878,000 after purchasing an additional 86,265 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of LGI Homes by 27.0% during the first quarter. First Eagle Investment Management LLC now owns 86,415 shares of the financial services provider’s stock worth $10,056,000 after buying an additional 18,350 shares during the period. Finally, Knights of Columbus Asset Advisors LLC grew its holdings in shares of LGI Homes by 102.7% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 35,149 shares of the financial services provider’s stock worth $4,680,000 after buying an additional 17,811 shares in the last quarter. 84.89% of the stock is owned by institutional investors.

LGI Homes Company Profile

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.