LGI Homes Inc reports results for the quarter ended in March - Earnings Summary

LGI Homes

30/04/2024 16:57

* LGI Homes Inc  LGIH.OQ  reported quarterly adjusted
earnings of
72 cents​​ per share for the quarter ended in March, lower than
the same quarter last year, when the company reported EPS of
$1.14.  The mean expectation of six analysts for the quarter was
for earnings of $1.06 per share. Wall Street expected results to
range from 62 cents to $1.39 per share.
    * Revenue fell 19.8% to $390.85 million from a year ago;
analysts
expected $400.00 million. 
    * LGI Homes Inc's reported EPS for the quarter was 72
cents​.
    * The company reported quarterly net income of $17.05
million.
    * LGI Homes Inc shares had fallen by 17.5% this quarter and
lost 27.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 42.4%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 3
"hold" and 2 "sell" or "strong sell." 
    * The average consensus recommendation for the homebuilding
peer
group is also "hold"

Wall Street's median 12-month price target for LGI Homes Inc is
$118.00 
This summary was machine generated from LSEG data April 30 at
03:57 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      1.06           0.72           Missed
 Dec. 31 2023      2.54           2.19           Missed
 Sep. 30 2023      2.18           2.84           Beat
 Jun. 30 2023      1.84           2.25           Beat