PulteGroup Receives “Neutral” Rating from Zacks (PHM)
PulteGroup (NYSE:PHM)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Friday. They currently have a $20.00 price objective on the stock. Zacks‘s target price would suggest a potential upside of 6.78% from the company’s current price.
Zacks’ analyst wrote, “PulteGroup posted weak second quarter 2014 results with earnings of $0.25 per share that lagged the Zacks Consensus Estimate and year over year figure of $0.26. The earnings declined due to weak net orders and lower number of home closings, higher selling, general and administrative (SG&A) ratio and higher-than-expected taxes. Revenues also lagged the Consensus mark and were soft due to order shortfall and lower number of homes delivered. Pulte’s order trends have remained weak for several quarters versus competitors due to lower community count. Pulte is facing supply constraints in many markets, in turn, lowering its community count. However, margins were strong for the second consecutive quarter due to improved pricing, better mix of sales and the company’s strategic pricing initiatives. We maintain our Neutral recommendation on the stock.”
PHM has been the subject of a number of other recent research reports. Analysts at FBR Capital Markets cut their price target on shares of PulteGroup from $24.00 to $22.00 in a research note on Friday. They now have an “outperform” rating on the stock. Analysts at Barclays raised their price target on shares of PulteGroup from $20.00 to $22.00 in a research note on Monday, June 30th. They now have an “underweight” rating on the stock. Four research analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. PulteGroup has a consensus rating of “Hold” and an average price target of $21.46.
PulteGroup (NYSE:PHM) traded down 2.65% on Friday, hitting $18.73. The stock had a trading volume of 10,983,338 shares. PulteGroup has a 52 week low of $14.23 and a 52 week high of $21.65. The stock’s 50-day moving average is $19.78 and its 200-day moving average is $19.4. The company has a market cap of $7.092 billion and a price-to-earnings ratio of 2.87.
PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.25 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.25. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $0.26 earnings per share. PulteGroup’s revenue was up .5% compared to the same quarter last year. On average, analysts predict that PulteGroup will post $1.16 earnings per share for the current fiscal year.
PulteGroup, Inc (NYSE:PHM) is a homebuilder in the United States.
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