Legacy Housing (LEGH) got here out with quarterly earnings of $0.35 per share, beating the Zacks Co
Legacy Housing (LEGH) got here out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.25 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 29.63%. 1 / 4 in the past, it was anticipated that this cell residence manufacturing firm would publish earnings of $0.34 per share when it truly produced earnings of $0.36, delivering a shock of 5.88%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates thrice.
Legacy Housing, which belongs to the Zacks Actual Property – Operations business, posted revenues of $43.74 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 3.51%. This compares to year-ago revenues of $41.94 million. The corporate has topped consensus income estimates 4 occasions during the last 4 quarters.
The sustainability of the inventory’s quick worth motion primarily based on the recently-released numbers and future earnings expectations will principally rely upon administration’s commentary on the earnings name.
Legacy Housing shares have misplaced about 15.9% because the starting of the 12 months versus the S&P 500’s acquire of 11%.
What’s Subsequent for Legacy Housing?
Whereas Legacy Housing has underperformed the market thus far this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist traders handle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified these days.
Empirical analysis exhibits a powerful correlation between near-term inventory actions and traits in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a formidable monitor file of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Legacy Housing was blended. Whereas the magnitude and path of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You may see the entire listing of immediately’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It will likely be fascinating to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.31 on $44.24 million in revenues for the approaching quarter and $1.26 on $170.78 million in revenues for the present fiscal 12 months.
Traders must be aware of the truth that the outlook for the business can have a fabric affect on the efficiency of the inventory as effectively. When it comes to the Zacks Trade Rank, Actual Property – Operations is at the moment within the backside 34% of the 250 plus Zacks industries. Our analysis exhibits that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Legacy Housing Company (LEGH): Free Inventory Evaluation Report
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