LGI Homes (NASDAQ:LGIH) Issues Earnings Results

LGI Homes (NASDAQ:LGIH) announced its quarterly earnings data on Tuesday. The financial services provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.42, Briefing.com reports. The firm had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.84 earnings per share.

LGI Homes Stock Performance

Shares of LGI Homes stock traded down $3.27 during midday trading on Wednesday, hitting $107.89. The company had a trading volume of 120,955 shares, compared to its average volume of 211,024. LGI Homes has a 12-month low of $84.00 and a 12-month high of $136.89. The company has a fifty day simple moving average of $110.42 and a 200 day simple moving average of $102.51. The company has a quick ratio of 0.49, a current ratio of 12.63 and a debt-to-equity ratio of 0.78. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 12.76 and a beta of 1.97.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LGIH shares. Wedbush reaffirmed a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research note on Wednesday, July 10th. Two equities 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $126.00.

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.