Brokers Offer Predictions for LGI Homes, Inc.’s Q3 2017 Earnings (LGIH)
LGI Homes, Inc. (NASDAQ:LGIH) – Wedbush reduced their Q3 2017 earnings estimates for shares of LGI Homes in a research report issued to clients and investors on Thursday. Wedbush analyst J. Mccanless now expects that the financial services provider will post earnings of $1.11 per share for the quarter, down from their previous forecast of $1.23. Wedbush has a “Outperform” rating and a $49.00 price objective on the stock. Wedbush also issued estimates for LGI Homes’ FY2017 earnings at $4.40 EPS and Q3 2018 earnings at $1.83 EPS.
LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.12. The business had revenue of $324.20 million for the quarter, compared to analyst estimates of $317.63 million. LGI Homes had a return on equity of 23.65% and a net margin of 9.22%. The company’s quarterly revenue was up 45.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 earnings per share.
Other research analysts also recently issued research reports about the company. Zacks Investment Research upgraded LGI Homes from a “hold” rating to a “strong-buy” rating and set a $49.00 target price on the stock in a report on Tuesday, July 18th. J P Morgan Chase & Co downgraded LGI Homes from an “overweight” rating to a “neutral” rating and set a $49.00 target price on the stock. in a report on Wednesday, August 9th. BidaskClub upgraded LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Wells Fargo & Company raised LGI Homes from an “underperform” rating to a “market perform” rating and set a $33.00 price target on the stock in a research report on Tuesday, May 16th. Finally, Deutsche Bank AG boosted their price target on LGI Homes from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. LGI Homes has a consensus rating of “Buy” and an average price target of $47.00.
LGI Homes (LGIH) opened at 44.90 on Monday. The company has a market cap of $970.51 million, a price-to-earnings ratio of 11.92 and a beta of 0.09. The firm has a 50-day moving average price of $44.63 and a 200 day moving average price of $36.24. LGI Homes has a one year low of $26.82 and a one year high of $49.95.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in LGI Homes by 3.9% in the 2nd quarter. BlackRock Inc. now owns 2,493,251 shares of the financial services provider’s stock valued at $100,180,000 after acquiring an additional 92,633 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in LGI Homes by 4.3% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,837,651 shares of the financial services provider’s stock valued at $73,837,000 after acquiring an additional 75,115 shares in the last quarter. Vanguard Group Inc. lifted its position in LGI Homes by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 878,551 shares of the financial services provider’s stock valued at $35,299,000 after acquiring an additional 29,296 shares in the last quarter. Neumeier Poma Investment Counsel LLC lifted its position in LGI Homes by 30.6% in the 1st quarter. Neumeier Poma Investment Counsel LLC now owns 787,550 shares of the financial services provider’s stock valued at $26,706,000 after acquiring an additional 184,750 shares in the last quarter. Finally, Heartland Advisors Inc. lifted its position in LGI Homes by 3.7% in the 2nd quarter. Heartland Advisors Inc. now owns 727,800 shares of the financial services provider’s stock valued at $29,243,000 after acquiring an additional 25,800 shares in the last quarter. 93.49% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Eric Thomas Lipar sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $42.59, for a total value of $425,900.00. Following the sale, the chief executive officer now directly owns 524,175 shares of the company’s stock, valued at approximately $22,324,613.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bryan Christopher Sansbury sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $46.30, for a total value of $1,157,500.00. Following the completion of the sale, the director now directly owns 159,551 shares in the company, valued at $7,387,211.30. The disclosure for this sale can be found here. Insiders own 13.60% of the company’s stock.
About LGI Homes
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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