PulteGroup (PHM) Posts Quarterly Earnings, Misses Expectations By $0.01 EPS
PulteGroup (NYSE:PHM) announced its earnings results on Thursday. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.20 by $0.01, AmericanBankingNews.com reports. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Barclays downgraded shares of PulteGroup from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, March 25th. They now have a $20.00 price target on the stock, down previously from $21.00. They noted that the move was a valuation call. On a related note, analysts at Credit Suisse downgraded shares of PulteGroup from an “outperform” rating to a “neutral” rating in a research note on Wednesday, March 12th. They now have a $20.00 price target on the stock. Finally, analysts at UBS AG raised their price target on shares of PulteGroup from $2.00 to $25.00 in a research note on Monday, March 10th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. PulteGroup currently has an average rating of “Hold” and a consensus price target of $21.62.
PulteGroup (NYSE:PHM) traded up 1.64% during mid-day trading on Thursday, hitting $18.875. 3,775,237 shares of the company’s stock traded hands. PulteGroup has a one year low of $14.23 and a one year high of $24.47. The stock has a 50-day moving average of $19.25 and a 200-day moving average of $18.8. The company has a market cap of $7.197 billion and a P/E ratio of 2.76.
PulteGroup, Inc (NYSE:PHM) is a homebuilder in the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.