Brokers Offer Predictions for LGI Homes FY2024 Earnings

LGI Homes, Inc. (NASDAQ:LGIH - Free Report) - Investment analysts at Seaport Res Ptn decreased their FY2024 earnings estimates for shares of LGI Homes in a research note issued to investors on Sunday, November 10th. Seaport Res Ptn analyst K. Zener now anticipates that the financial services provider will post earnings per share of $8.46 for the year, down from their previous forecast of $8.71. The consensus estimate for LGI Homes' current full-year earnings is $8.97 per share. Seaport Res Ptn also issued estimates for LGI Homes' FY2025 earnings at $9.96 EPS.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The company had revenue of $651.85 million for the quarter, compared to analyst estimates of $645.27 million. During the same quarter in the previous year, the firm posted $2.84 earnings per share. The company's quarterly revenue was up 5.6% compared to the same quarter last year.

Separately, Wedbush reissued a "neutral" rating and issued a $125.00 price target on shares of LGI Homes in a report on Wednesday, November 6th. 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 company. According to MarketBeat.com, LGI Homes has an average rating of "Hold" and an average price target of $126.00.

LGI Homes Price Performance

LGIH traded down $2.80 during trading on Tuesday, reaching $105.52. 36,004 shares of the company were exchanged, compared to its average volume of 210,548. The company's 50-day moving average is $110.56 and its two-hundred day moving average is $102.91. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 12.99 and a beta of 1.97. LGI Homes has a 12-month low of $84.00 and a 12-month high of $136.89. The company has a quick ratio of 0.49, a current ratio of 12.72 and a debt-to-equity ratio of 0.77.

Institutional Investors Weigh In On LGI Homes

Large investors have recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in LGI Homes by 60.9% during the 3rd quarter. Citigroup Inc. now owns 41,797 shares of the financial services provider's stock valued at $4,954,000 after buying an additional 15,818 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of LGI Homes by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 349,141 shares of the financial services provider's stock valued at $41,380,000 after purchasing an additional 24,555 shares during the period. Intech Investment Management LLC increased its stake in shares of LGI Homes by 113.9% in the 3rd quarter. Intech Investment Management LLC now owns 5,785 shares of the financial services provider's stock worth $686,000 after purchasing an additional 3,080 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of LGI Homes in the third quarter worth about $1,368,000. Finally, KBC Group NV lifted its position in shares of LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider's stock valued at $87,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 84.89% of the company's stock.

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.