Business Corpus: LGI Homes Crushed Earnings Views With Stock Already In Buy ZoneLGI Homes reported much-better-than-expected earnings and revenue growth early Tuesday. The homebuilder's stock, part of the IBD 50, already was in a buy zone. The post LGI Homes Crushed Earnings Views With Stock Already In Buy Zone appeared first on Investor's Business Daily.

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LGI Homes (LGIH) reported much-better-than-expected earnings and revenue growth early Tuesday. The homebuilder's stock, part of the prestigious IBD 50, already was in a buy zone.

Estimates: Wall Street is looking for EPS to soar 48% to 77 cents with revenue climbing 66% to $271 million, according to Zacks Investment Research.

Results: LGI Homes earned $1.10 a share, up 115% vs. a year earlier. Revenue shot up 71% to $279 million.

Last week, the entry level homebuilder announced 606 home sales closings in April, up 66%. For the first four months for the year, closings are up 64% at 1,850. As of the end of April, the company had 79 active selling communities.

Stock LGI Homes not yet active in premarket trading on the stock market today. Shares jumped 3.5% to 75.80 on Monday in heavy volume. That just cleared a buy point of 75.62 from a 17-week cup with handle base.

Among other homebuilders, D.R. Horton (DHI), Lennar (LEN), KB Home (KBH) and PulteGroup (PHM) were not yet active.

Meanwhile consumer confidence in housing is at an all-time high, according to Fannie Mae.

The government-sponsored mortgage provider's Home Purchase Sentiment Index showed the confidence of those who think home prices will move even higher rose the most, while those who it is a good time to sell came in second.

The only group that reported a confidence fall was those those who think it's a good time to buy.

Homebuilder stocks were the top market group in 2017, nearly doubling in value. But they've been laggards in 2018 as mortgage rates have climbed along with Treasury yields, which are getting a boost from expectations for faster inflation.

The Building-Residential/Commercial group now sits in 157th place among the 197 industries that IBD tracks, after topping the list in 2017.

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The post LGI Homes Crushed Earnings Views With Stock Already In Buy Zone appeared first on Investor's Business Daily.