Wedbush Analysts Increase Earnings Estimates for LGI Homes

LGI Homes, Inc. (NASDAQ:LGIH) – Investment analysts at Wedbush raised their FY2024 earnings estimates for LGI Homes in a note issued to investors on Tuesday, November 5th. Wedbush analyst J. Mccanless now forecasts that the financial services provider will post earnings of $9.02 per share for the year, up from their prior forecast of $8.59. Wedbush has a “Neutral” rating and a $125.00 price objective on the stock. The consensus estimate for LGI Homes’ current full-year earnings is $8.82 per share. Wedbush also issued estimates for LGI Homes’ Q4 2024 earnings at $2.88 EPS, Q1 2025 earnings at $1.48 EPS, Q2 2025 earnings at $2.56 EPS, Q4 2025 earnings at $3.51 EPS and Q1 2026 earnings at $1.69 EPS.

LGI Homes (NASDAQ:LGIH) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.41. The firm had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.84 earnings per share.

LGI Homes Price Performance

Shares of LGIH stock opened at $109.67 on Friday. LGI Homes has a 1 year low of $84.00 and a 1 year high of $136.89. The firm’s 50 day moving average is $110.53 and its 200-day moving average is $102.61. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 13.33 and a beta of 1.97. The company has a current ratio of 12.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78.

Hedge Funds Weigh In On LGI Homes

A number of large investors have recently modified their holdings of LGIH. BNP Paribas Financial Markets lifted its position in shares of LGI Homes by 28.6% during the first quarter. BNP Paribas Financial Markets now owns 34,290 shares of the financial services provider’s stock worth $3,990,000 after purchasing an additional 7,616 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in LGI Homes by 23.5% in the first quarter. Janney Montgomery Scott LLC now owns 2,334 shares of the financial services provider’s stock valued at $272,000 after buying an additional 444 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new position in LGI Homes in the first quarter valued at approximately $52,000. Texas Permanent School Fund Corp lifted its holdings in LGI Homes by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 17,942 shares of the financial services provider’s stock valued at $2,088,000 after buying an additional 233 shares during the period. Finally, Quantbot Technologies LP acquired a new position in LGI Homes in the first quarter valued at approximately $1,377,000. 84.89% of the stock is currently owned by institutional investors and hedge funds.

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.