Wedbush Comments on PulteGroup Inc.’s Q3 2016 Earnings (PHM)
PulteGroup Inc. (NYSE:PHM) – Research analysts at Wedbush issued their Q3 2016 earnings per share estimates for PulteGroup in a research note issued to investors on Monday. Wedbush analyst J. Mccanless expects that the firm will post earnings per share of $0.48 for the quarter. Wedbush has a “Underperform” rating and a $16.00 price objective on the stock. Wedbush also issued estimates for PulteGroup’s Q4 2016 earnings at $0.59 EPS, FY2016 earnings at $1.62 EPS, Q1 2017 earnings at $0.30 EPS, Q2 2017 earnings at $0.43 EPS, Q3 2017 earnings at $0.63 EPS, Q4 2017 earnings at $0.79 EPS and FY2017 earnings at $2.11 EPS.
PHM has been the subject of several other reports. Deutsche Bank AG restated a “buy” rating and issued a $27.00 price target on shares of PulteGroup in a research report on Thursday, September 15th. TheStreet raised shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Tuesday, June 28th. MKM Partners reaffirmed a “hold” rating on shares of PulteGroup in a research note on Wednesday, June 8th. Credit Suisse Group AG reaffirmed a “sell” rating on shares of PulteGroup in a research note on Tuesday, June 28th. Finally, Royal Bank Of Canada upped their price objective on shares of PulteGroup from $23.00 to $26.00 and gave the company an “outperform” rating in a research note on Friday, July 22nd. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of C$20.13.
Shares of PulteGroup (NYSE:PHM) traded up 1.417% during midday trading on Thursday, reaching $19.685. 2,183,857 shares of the company’s stock traded hands. The company has a 50 day moving average of $20.87 and a 200 day moving average of $19.44. PulteGroup has a 52-week low of $14.61 and a 52-week high of $22.40. The firm has a market cap of $6.76 billion, a PE ratio of 12.959 and a beta of 1.59.
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PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. PulteGroup had a net margin of 7.89% and a return on equity of 11.24%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business earned $0.28 EPS. The company’s revenue was up 40.6% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of the company. MCF Advisors LLC increased its stake in PulteGroup by 0.5% in the first quarter. MCF Advisors LLC now owns 11,743 shares of the company’s stock worth $220,000 after buying an additional 60 shares during the period. IFP Advisors Inc increased its stake in PulteGroup by 1.6% in the second quarter. IFP Advisors Inc now owns 5,597 shares of the company’s stock worth $109,000 after buying an additional 90 shares during the period. Advantus Capital Management Inc increased its stake in PulteGroup by 0.3% in the second quarter. Advantus Capital Management Inc now owns 30,581 shares of the company’s stock worth $596,000 after buying an additional 106 shares during the period. M&T Bank Corp increased its stake in PulteGroup by 0.5% in the second quarter. M&T Bank Corp now owns 25,394 shares of the company’s stock worth $496,000 after buying an additional 114 shares during the period. Finally, TCW Group Inc. increased its stake in PulteGroup by 1.5% in the second quarter. TCW Group Inc. now owns 25,465 shares of the company’s stock worth $496,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.
In related news, VP James L. Ossowski sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of C$20.00, for a total transaction of C$200,000.00. Following the completion of the sale, the vice president now owns 51,880 shares in the company, valued at C$1,037,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP James R. Ellinghausen sold 100,000 shares of the firm’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of C$20.25, for a total transaction of C$2,025,000.00. Following the sale, the vice president now owns 532,931 shares of the company’s stock, valued at approximately C$10,791,852.75. The disclosure for this sale can be found here. 1.83% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 20th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.85%. PulteGroup’s dividend payout ratio is currently 23.68%.
PulteGroup Company Profile
PulteGroup, Inc is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments.
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