LGI Homes Inc (LGIH) Issues FY17 Earnings Guidance

LGI Homes Inc (NASDAQ:LGIH) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided EPS guidance of $4.00-4.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.82.

LGI Homes Inc (NASDAQ:LGIH) traded up 1.44% during trading on Friday, hitting $32.46. The stock had a trading volume of 156,610 shares. LGI Homes Inc has a 12-month low of $24.67 and a 12-month high of $40.47. The firm has a market cap of $701.10 million, a P/E ratio of 9.74 and a beta of 0.19. The stock’s 50 day moving average price is $31.55 and its 200 day moving average price is $30.87.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The firm had revenue of $162.91 million for the quarter, compared to analyst estimates of $161.68 million. LGI Homes had a net margin of 8.68% and a return on equity of 23.66%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. On average, analysts anticipate that LGI Homes Inc will post $3.89 EPS for the current fiscal year.

Earnings History and Estimates for LGI Homes (NASDAQ:LGIH)

Several research firms have issued reports on LGIH. Wells Fargo & Co upgraded shares of 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. Zacks Investment Research lowered shares of LGI Homes from a hold rating to a sell rating in a research note on Wednesday, May 10th. Wedbush reaffirmed a neutral rating and issued a $35.00 price objective on shares of LGI Homes in a research note on Thursday, April 6th. Finally, BTIG Research assumed coverage on shares of LGI Homes in a research note on Tuesday, February 7th. They issued a neutral rating for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. LGI Homes presently has a consensus rating of Hold and a consensus target price of $35.67.

In related news, CEO Eric Thomas Lipar sold 16,670 shares of LGI Homes stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $32.29, for a total value of $538,274.30. Following the transaction, the chief executive officer now owns 560,845 shares in the company, valued at approximately $18,109,685.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles Michael Merdian sold 4,255 shares of LGI Homes stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $32.29, for a total transaction of $137,393.95. Following the completion of the transaction, the chief financial officer now owns 69,407 shares in the company, valued at approximately $2,241,152.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,735 shares of company stock valued at $1,200,463. 17.50% of the stock is owned by company insiders.

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Several hedge funds have recently modified their holdings of LGIH. Teachers Advisors LLC raised its stake in shares of LGI Homes by 3.2% in the first quarter. Teachers Advisors LLC now owns 27,956 shares of the financial services provider’s stock valued at $948,000 after buying an additional 859 shares during the period. Bank of America Corp DE raised its stake in shares of LGI Homes by 119.3% in the first quarter. Bank of America Corp DE now owns 31,296 shares of the financial services provider’s stock valued at $1,061,000 after buying an additional 17,027 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of LGI Homes by 6.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 66,277 shares of the financial services provider’s stock valued at $2,248,000 after buying an additional 3,744 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of LGI Homes by 5.7% in the first quarter. Vanguard Group Inc. now owns 849,255 shares of the financial services provider’s stock valued at $28,798,000 after buying an additional 45,728 shares during the period. Institutional investors and hedge funds own 82.09% of the company’s stock.

LGI Homes Company Profile

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.

12 Month Chart for NASDAQ:LGIH

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