LGI Homes (NASDAQ:LGIH) Issues Quarterly Earnings Results, Beats Expectations By $0.42 EPS

LGI Homes (NASDAQ:LGIH) issued its quarterly earnings data on Tuesday. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.42, Briefing.com reports. LGI Homes had a return on equity of 10.45% and a net margin of 8.78%. The company had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. During the same quarter in the previous year, the business earned $2.84 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis.

LGI Homes Trading Down 2.9 %

Shares of NASDAQ:LGIH traded down $3.27 during midday trading on Wednesday, hitting $107.89. The company had a trading volume of 120,955 shares, compared to its average volume of 211,024. LGI Homes has a 12 month low of $84.00 and a 12 month high of $136.89. The company has a current ratio of 12.63, a quick ratio of 0.49 and a debt-to-equity ratio of 0.78. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 12.76 and a beta of 1.97. The firm has a fifty day simple moving average of $110.42 and a 200 day simple moving average of $102.51.

Wall Street Analyst Weigh In

LGIH has been the topic of a number of analyst reports. Wedbush reaffirmed a “neutral” rating and set a $125.00 price objective on shares of LGI Homes in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on LGI Homes from $95.00 to $93.00 and set an “underweight” rating for the company in a research report on Wednesday, July 10th. Two 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’s stock. Based on data from MarketBeat.com, LGI Homes currently has an average 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.