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Category: Legacy Housing Corp (LEGH)
Date: 20 March 2021 Stock price of Legacy (LEGH): $18.09 Market Capital of Legacy Housing: $437.8 million We take a a look at the 4th quarter 2020 earnings report of Legacy Housing a firm that builds, sells and finances manufactured homes and "tiny houses" that are distributed through a network of independent retailers and company-owned stores and are sold directly to manufactured housing communities.
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Curtis D. Hodgson, Executive Chairman of the Board, commented - We are proud of our 2020 results as highlighted by the continued growth in earnings per share which increased more than 33% this year. Our backlog going into to 2021 is excellent. Factory production has returned to pre-COVID-19 levels "
More About Legacy Housing Corporation
Legacy Housing Corporation builds, sells and finances manufactured homes and "tiny houses" that are distributed through a network of independent retailers and company-owned stores and are sold directly to manufactured housing communities. We are the fourth largest producer of manufactured homes in the United States as ranked by number of homes manufactured based on the information available from the Manufactured Housing Institute. With current operations focused primarily in the southern United States, we offer our customers an array of quality homes ranging in size from approximately 390 to 2,667 square feet consisting of 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms. Our homes range in price, at retail, from approximately $22,000 to $120,000.
Overview of Legacy Corporation 4th quarter 2020 earnings report
Financial Highlights:
- Net revenue for the fourth quarter of 2020 was $48.7 million. This was a 12.5% or $5.4 million increase from the fourth quarter of 2019.
- Interest revenue from our consumer and mobile home park portfolios for the fourth quarter of 2020 was $6.4 million. This was a 10.0% or $0.6 million increase from the fourth quarter of 2019.
- Selling, general and administrative expense in the fourth quarter of 2020 was $4.9 million. This was a decrease of 20.9% or $1.6 million from the $6.6 million recorded in the fourth quarter of 2019.
- Income from operations during the fourth quarter of 2020 was $13.1 million. This was an increase of 46.8% or $4.2 million compared to fourth quarter of 2019.
- Net income in the fourth quarter of 2020 was $10.5 million. This was an increase of 52.9% or $3.6 million compared to the fourth quarter of 2019.
- Diluted earnings per share for the fourth quarter of 2020 were $.44. This was an increase of 57.1% or $.16 compared to the fourth quarter of 2019.
Legacy Housing (LEGH) management commentary on 4th quarter 2020 earnings
BEDFORD, Texas, March 16, 2021 (GLOBE NEWSWIRE) -- Legacy Housing Corporation (NASDAQ: LEGH) today announced its financial results for the fourth quarter ended December 31, 2020.
Curtis D. Hodgson, Executive Chairman of the Board, commented, “We are proud of our 2020 results as highlighted by the continued growth in earnings per share which increased more than 33% this year. Our backlog going into to 2021 is excellent. Factory production has returned to pre-COVID-19 levels. We remain focused on increasing the tangible book value of the company for our shareholders. This year, Legacy increased the tangible book value of the company by 17.5%.”
Curtis D. Hodgson, Executive Chairman of the Board, commented, “We are proud of our 2020 results as highlighted by the continued growth in earnings per share which increased more than 33% this year. Our backlog going into to 2021 is excellent. Factory production has returned to pre-COVID-19 levels. We remain focused on increasing the tangible book value of the company for our shareholders. This year, Legacy increased the tangible book value of the company by 17.5%.”
Legacy Housing Corp (LEGH) stock price history since their listing
The image below shows the stock price history of Legacy Housing since their listing.. And its been a good time for Legacy Housing stockholders with the stock increasing by 38% since its listing
The stock of Legacy Housing is trading at closer to its 52 week high than it is to its 52 week low which is a clear indication that the short term sentiment and momentum of Legacy Housing stock is positive at this point in time.
The stock of Legacy Housing is trading at closer to its 52 week high than it is to its 52 week low which is a clear indication that the short term sentiment and momentum of Legacy Housing stock is positive at this point in time.
Latest stock valuation of Legacy Housing Corporation
So what is Legacy Housing stock worth based on their 4th quarter 2020 earnings report? Based on their earnings report our valuation model provides a target price (full value price) for Legacy Housing at $24.80 a stock
We therefore believe the stock of Legacy Housing is undervalued at its current price of $18.09
We usually recommend long term fundamental or value investors look to enter a stock at least 10% below our target price (full value price), which in this case is $24.80 thus a good entry point into Legacy Housing would be at $22.30 or below.
We expect the stock of Legacy Housing to kick up from current levels in coming weeks and months to levels closer to our target price (full value price), as their stock is price is undervalued
We therefore believe the stock of Legacy Housing is undervalued at its current price of $18.09
We usually recommend long term fundamental or value investors look to enter a stock at least 10% below our target price (full value price), which in this case is $24.80 thus a good entry point into Legacy Housing would be at $22.30 or below.
We expect the stock of Legacy Housing to kick up from current levels in coming weeks and months to levels closer to our target price (full value price), as their stock is price is undervalued
Next earnings release of Legacy Housing
It is expected that Legacy Housing (LEGH) will release their 1st quarter 2021 earnings report in early June 2021
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