PulteGroup Rating Reiterated by Zacks (PHM)
PulteGroup (NYSE:PHM)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Tuesday. They currently have a $20.00 price target on the stock. Zacks‘s price objective indicates a potential upside of 4.88% from the company’s current price.
Zacks’ analyst wrote, “Pulte’s second-quarter earnings of $0.25 per share lagged the Zacks Consensus Estimate and declined almost 4% year over year owing to soft revenues and higher tax rates. Revenues lagged the Zacks Consensus Estimate 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, which in turn is lowering its community count. However, gross margins were strong for the second consecutive quarter due to improved pricing, better mix of sales and the company’s strategic pricing initiatives. Though Pulte’s improving profitability is an encouraging sign, lower order trends remains a concern.”
A number of other analysts have also recently weighed in on PHM. 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, July 25th. 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. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $21.80.
PulteGroup (NYSE:PHM) traded up 0.26% during mid-day trading on Tuesday, hitting $19.12. The stock had a trading volume of 1,360,879 shares. PulteGroup has a 52 week low of $15.14 and a 52 week high of $21.65. The stock’s 50-day moving average is $18.83 and its 200-day moving average is $19.29. The company has a market cap of $7.188 billion and a P/E ratio of 2.80.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the 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 in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, analysts predict that PulteGroup will post $1.09 earnings per share for the current fiscal year.
PulteGroup, Inc (NYSE:PHM) is a homebuilder in the United States.
To view Zacks’ full report, visit Zacks’ official website.
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