LGI Homes (NASDAQ:LGIH) Releases Earnings Results, Beats Estimates By $0.04 EPS

LGI Homes (NASDAQ:LGIH) issued its earnings results on Tuesday. The financial services provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.04, Briefing.com reports. LGI Homes had a return on equity of 21.68% and a net margin of 9.31%. The company had revenue of $483.10 million for the quarter, compared to analysts’ expectations of $486.83 million. During the same period last year, the business earned $1.52 EPS. LGI Homes’s quarterly revenue was up 27.0% compared to the same quarter last year. LGI Homes updated its FY19 guidance to $7.00-7.60 EPS.

Shares of LGIH traded down $3.73 during trading hours on Thursday, reaching $70.92. The stock had a trading volume of 431,200 shares, compared to its average volume of 291,602. The company has a current ratio of 15.20, a quick ratio of 1.34 and a debt-to-equity ratio of 0.92. The firm has a 50-day simple moving average of $82.29 and a 200 day simple moving average of $75.49. LGI Homes has a 12 month low of $37.73 and a 12 month high of $89.00. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 11.17 and a beta of 0.47.

In other LGI Homes news, CEO Eric Thomas Lipar sold 25,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $80.28, for a total transaction of $2,007,000.00. Following the transaction, the chief executive officer now directly owns 528,058 shares in the company, valued at approximately $42,392,496.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Bryan Christopher Sansbury sold 8,949 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $80.91, for a total value of $724,063.59. Following the transaction, the director now owns 160,121 shares in the company, valued at $12,955,390.11. The disclosure for this sale can be found here. 13.40% of the stock is currently owned by company insiders.

LGIH has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut LGI Homes from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $77.00 to $84.50 in a report on Wednesday, September 11th. ValuEngine cut LGI Homes from a “sell” rating to a “strong sell” rating in a report on Tuesday. Zacks Investment Research cut LGI Homes from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. JMP Securities increased their target price on LGI Homes from $83.00 to $89.00 and gave the stock a “market outperform” rating in a report on Friday, September 6th. Finally, Wells Fargo & Co increased their target price on LGI Homes from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. LGI Homes has an average rating of “Hold” and an average price target of $83.30.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, North Carolina, South Carolina, Colorado, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached homes and townhomes, and move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

Recommended Story: What are no-load funds?

Earnings History for LGI Homes (NASDAQ:LGIH)

Receive News & Ratings for LGI Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes and related companies with MarketBeat.com's FREE daily email newsletter.