Equities analysts predict that PulteGroup, Inc. (NYSE:PHM) will report sales of $2.35 billion for the current quarter, according to Zacks. Seven analysts have provided estimates for PulteGroup’s earnings. The highest sales estimate is $2.45 billion and the lowest is $2.24 billion. PulteGroup reported sales of $1.94 billion during the same quarter last year, which would suggest a positive year over year growth rate of 21.1%. The firm is scheduled to issue its next earnings results on Thursday, October 19th.
According to Zacks, analysts expect that PulteGroup will report full year sales of $2.35 billion for the current year, with estimates ranging from $8.67 billion to $9.07 billion. For the next financial year, analysts expect that the business will report sales of $10.10 billion per share, with estimates ranging from $9.59 billion to $10.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover PulteGroup.
PulteGroup (NYSE:PHM) last released its earnings results on Tuesday, July 25th. The construction company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.03 billion. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 EPS.
Several equities analysts have weighed in on PHM shares. Bank of America Corporation reaffirmed a “buy” rating and set a $30.00 price target (up previously from $29.00) on shares of PulteGroup in a report on Tuesday, June 27th. Credit Suisse Group assumed coverage on shares of PulteGroup in a research note on Thursday, June 22nd. They set an “outperform” rating and a $27.00 price target on the stock. BidaskClub downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Monday. Wedbush raised shares of PulteGroup from an “underperform” rating to a “neutral” rating and upped their price target for the company from $15.00 to $22.00 in a research note on Thursday, July 13th. Finally, Barclays PLC downgraded shares of PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price target on the stock. in a research note on Tuesday, July 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. PulteGroup presently has a consensus rating of “Hold” and an average price target of $25.08.
Shares of PulteGroup (NYSE:PHM) opened at 24.42 on Tuesday. The company’s 50 day moving average is $24.33 and its 200-day moving average is $22.96. PulteGroup has a 52 week low of $17.69 and a 52 week high of $25.20. The stock has a market capitalization of $7.37 billion, a PE ratio of 13.51 and a beta of 1.14.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 8th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Tuesday, June 6th. PulteGroup’s payout ratio is currently 20.00%.
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In related news, Director Brian P. Anderson sold 14,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total value of $324,520.00. Following the transaction, the director now owns 108,744 shares in the company, valued at approximately $2,520,685.92. The sale was disclosed in a filing with the SEC, which is available through this link. 0.71% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of PHM. BlackRock Inc. boosted its stake in shares of PulteGroup by 3,521.7% in the first quarter. BlackRock Inc. now owns 22,891,339 shares of the construction company’s stock worth $539,092,000 after buying an additional 22,259,277 shares during the last quarter. Renaissance Technologies LLC bought a new stake in PulteGroup during the first quarter worth about $92,466,000. Wedge Capital Management L L P NC bought a new stake in PulteGroup during the first quarter worth about $59,083,000. State of New Jersey Common Pension Fund D bought a new stake in PulteGroup during the second quarter worth about $29,436,000. Finally, Boston Advisors LLC bought a new stake in PulteGroup during the first quarter worth about $17,839,000. 91.94% of the stock is currently owned by institutional investors and hedge funds.
About PulteGroup
PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.
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