LGI Homes (NASDAQ:LGIH) Releases Earnings Results, Beats Expectations By $0.41 EPS

LGI Homes (NASDAQ:LGIH) announced its earnings results on Tuesday. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.54 by $0.41, Briefing.com reports. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The company had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. During the same period last year, the company posted $2.84 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis.

LGI Homes Trading Down 0.3 %

Shares of LGIH traded down $0.31 during mid-day trading on Thursday, reaching $109.67. 189,206 shares of the company were exchanged, compared to its average volume of 212,002. The stock has a market capitalization of $2.58 billion, a PE ratio of 13.36 and a beta of 1.97. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.49 and a current ratio of 12.63. LGI Homes has a 52 week low of $84.00 and a 52 week high of $136.89. The business has a 50 day simple moving average of $110.47 and a two-hundred day simple moving average of $102.57.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Wedbush restated a “neutral” rating and set a $125.00 price objective on shares of LGI Homes in a report on Wednesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, LGI Homes has a consensus rating of “Hold” and a consensus price target of $126.00.

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.