Seaport Res Ptn Equities Analysts Cut Earnings Estimates for LGI Homes, Inc. (NASDAQ:LGIH)

LGI Homes, Inc. (NASDAQ:LGIH) – Equities researchers at Seaport Res Ptn dropped their FY2024 EPS estimates for LGI Homes in a note issued to investors on Sunday, August 4th. Seaport Res Ptn analyst K. Zener now expects that the financial services provider will post earnings per share of $9.10 for the year, down from their previous forecast of $9.49. The consensus estimate for LGI Homes’ current full-year earnings is $8.82 per share. Seaport Res Ptn also issued estimates for LGI Homes’ Q4 2024 earnings at $2.71 EPS and FY2025 earnings at $10.61 EPS.

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

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

LGI Homes Stock Performance

Shares of LGI Homes stock opened at $99.34 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.43 and a current ratio of 12.63. LGI Homes has a one year low of $84.00 and a one year high of $138.80. The business’s 50 day moving average price is $97.00 and its 200 day moving average price is $104.03. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 12.42 and a beta of 1.92.

Hedge Funds Weigh In On LGI Homes

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in shares of LGI Homes by 35.8% during the 4th quarter. First Horizon Advisors Inc. now owns 353 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 93 shares during the last quarter. Louisiana State Employees Retirement System grew its position in LGI Homes by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the financial services provider’s stock valued at $922,000 after acquiring an additional 100 shares in the last quarter. Arcadia Investment Management Corp MI boosted its position in LGI Homes by 18.4% in the 4th quarter. Arcadia Investment Management Corp MI now owns 722 shares of the financial services provider’s stock valued at $96,000 after buying an additional 112 shares during the last quarter. Arizona State Retirement System raised its position in shares of LGI Homes by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 5,940 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 112 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of LGI Homes by 3.3% in the 1st quarter. Sei Investments Co. now owns 3,970 shares of the financial services provider’s stock worth $462,000 after purchasing an additional 126 shares during the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

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.