LGI Homes (NASDAQ:LGIH) Posts Earnings Results, Beats Expectations By $0.01 EPS

LGI Homes (NASDAQ:LGIH) posted its earnings results on Tuesday. The financial services provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01, FiscalAI reports. LGI Homes had a return on equity of 5.50% and a net margin of 5.93%.The business had revenue of $473.97 million for the quarter, compared to analyst estimates of $479.60 million.

LGI Homes Stock Up 1.8%

LGIH stock opened at $60.83 on Tuesday. LGI Homes has a fifty-two week low of $39.70 and a fifty-two week high of $88.07. The company has a debt-to-equity ratio of 0.84, a current ratio of 18.02 and a quick ratio of 0.58. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.43 and a beta of 1.89. The business’s fifty day moving average price is $50.23 and its two-hundred day moving average price is $52.30.

Analysts Set New Price Targets

A number of research firms have commented on LGIH. Citigroup reaffirmed an “outperform” rating on shares of LGI Homes in a research report on Wednesday, January 7th. Citizens Jmp raised their target price on shares of LGI Homes from $85.00 to $95.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of LGI Homes in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, LGI Homes has an average rating of “Hold” and a consensus target price of $76.70.

Institutional Trading of LGI Homes

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd boosted its holdings in LGI Homes by 75.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 551 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 237 shares during the period. Russell Investments Group Ltd. raised its position in shares of LGI Homes by 106.6% in the second quarter. Russell Investments Group Ltd. now owns 591 shares of the financial services provider’s stock valued at $30,000 after buying an additional 305 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of LGI Homes in the fourth quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of LGI Homes by 7,240.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,101 shares of the financial services provider’s stock valued at $47,000 after buying an additional 1,086 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its stake in shares of LGI Homes by 350.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,959 shares of the financial services provider’s stock valued at $84,000 after buying an additional 1,524 shares during the period. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Company Profile

LGI Homes, Inc (NASDAQ: LGIH) is a residential homebuilder primarily focused on serving first-time and first-time move-up homebuyers in the United States. The company specializes in the acquisition, development and sale of affordable single-family homes and townhomes. LGI Homes operates through an integrated model that encompasses land sourcing, lot development, home construction, and post-closing customer support including warranty services.

In addition to its core homebuilding activities, LGI Homes offers ancillary services to streamline the homebuying process for its customers.