LGI Homes Shares Rise

LGI Homes shares rose to an all-time high after reporting Q2 earnings and revenue figures that topped forecasts of Wall Street analysts. LGIH was up 3% at $49.08 recently, trading in a new 52-week range of $26.82 to $49.89. Earnings rose to $1.39 from $0.96 a year earlier. The average forecast of analysts surveyed by Capital IQ was $1.23. Revenue rose to $324.2 million from $222.7 million and beat the 317.6 million expectation of analysts.

The company also said it now expects to close more than 5,000 homes in 2017, up from previously more than 4,700, and generate earnings between $4.25 and $4.75 per share this year, up from previously $4.00 to $4.50. Analysts have been expecting FY GAAP EPS of $4.13.

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