THE WOODLANDS, Texas - LGI Homes , Inc. (NASDAQ: NASDAQ:LGIH), a Texas-based homebuilder, disclosed its performance for January 2024, announcing the closure of 225 homes during the month. As of January 31, the company reported operating 113 active selling communities.
Established in 2003, LGI Homes has been recognized for its systematic approach to homebuilding, contributing to a consistent growth trajectory. The company has closed over 65,000 homes since inception and has maintained profitability annually. Its operational model emphasizes affordability and customer satisfaction, which has earned the company a spot on Newsweek's list of the World's Most Trustworthy Companies.
In addition to its business achievements, LGI Homes has garnered attention for its workplace environment, recently receiving the Top Workplaces USA 2023 Award. The company attributes much of its success to its workforce, which now exceeds 1,000 employees.
LGI Homes operates across 36 markets in 21 states, focusing on a mission to make homeownership attainable for families nationwide.
InvestingPro Insights
As LGI Homes, Inc. (NASDAQ: LGIH) continues to navigate the homebuilding market, key financial metrics and analyst insights offer a deeper understanding of its current standing. With a market capitalization of $2.79 billion and a Price/Earnings (P/E) ratio of 15.09 based on the last twelve months as of Q3 2023, the company presents a value proposition that is grounded in its historical profitability. Despite a recent revenue decline of 14.47% in the same period, LGI Homes has managed to maintain a gross profit margin of 22.67%, showcasing its operational efficiency.
InvestingPro Tips highlight that while analysts have revised earnings downwards for the upcoming period and expect a drop in net income this year, LGI Homes has been profitable over the last twelve months and is predicted to remain profitable. Additionally, the company's stock price movements have been quite volatile, which could be a consideration for investors seeking stable returns. On a more positive note, LGI Homes has ample liquid assets that exceed its short-term obligations, and it has delivered a high return over the last decade. It's also noteworthy that LGI Homes does not pay a dividend, which could be a factor for income-focused investors.
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