Q3 2024 EPS Estimates for LGI Homes, Inc. (NASDAQ:LGIH) Raised by Analyst

LGI Homes, Inc. (NASDAQ:LGIH) – Research analysts at Wedbush increased their Q3 2024 earnings per share (EPS) estimates for LGI Homes in a research report issued on Wednesday, July 31st. Wedbush analyst J. Mccanless now expects that the financial services provider will post earnings per share of $2.64 for the quarter, up from their prior forecast of $2.59. Wedbush has a “Underperform” rating and a $74.00 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’ FY2024 earnings at $8.78 EPS, Q1 2025 earnings at $1.32 EPS, Q2 2025 earnings at $2.66 EPS, Q3 2025 earnings at $2.87 EPS and FY2025 earnings at $10.10 EPS.

A number of other equities analysts also recently issued reports on LGIH. StockNews.com downgraded LGI Homes from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. dropped their price target on LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $109.00.

LGI Homes Stock Performance

LGIH stock opened at $102.01 on Monday. LGI Homes has a twelve month low of $84.00 and a twelve month high of $139.03. The company has a quick ratio of 0.43, a current ratio of 12.63 and a debt-to-equity ratio of 0.78. The business’s fifty day simple moving average is $96.86 and its two-hundred day simple moving average is $104.11. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 12.75 and a beta of 1.92.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.24 by $0.24. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. The business had revenue of $602.50 million for the quarter, compared to analyst estimates of $617.44 million. During the same quarter last year, the firm posted $2.25 earnings per share. The business’s revenue was down 6.6% compared to the same quarter last year.

Institutional Investors Weigh In On LGI Homes

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in LGI Homes by 0.9% during the first quarter. Vanguard Group Inc. now owns 2,220,411 shares of the financial services provider’s stock valued at $258,389,000 after purchasing an additional 19,800 shares in the last quarter. Wasatch Advisors LP boosted its position in LGI Homes by 9.9% during the first quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock valued at $169,929,000 after purchasing an additional 131,467 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in LGI Homes by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,443,038 shares of the financial services provider’s stock valued at $192,158,000 after purchasing an additional 58,850 shares in the last quarter. Capital World Investors boosted its position in LGI Homes by 6.2% during the first quarter. Capital World Investors now owns 846,202 shares of the financial services provider’s stock valued at $98,473,000 after purchasing an additional 49,640 shares in the last quarter. Finally, CDAM UK Ltd boosted its position in LGI Homes by 14.7% during the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock valued at $89,878,000 after purchasing an additional 86,265 shares in the last quarter. 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.