$2.04 Billion in Sales Expected for PulteGroup, Inc. (PHM) This Quarter
Equities research analysts expect that PulteGroup, Inc. (NYSE:PHM) will announce sales of $2.04 billion for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for PulteGroup’s earnings, with estimates ranging from $1.96 billion to $2.07 billion. PulteGroup reported sales of $1.80 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The firm is expected to report its next quarterly earnings results on Thursday, July 20th.
On average, analysts expect that PulteGroup will report full year sales of $2.04 billion for the current fiscal year, with estimates ranging from $8.67 billion to $9.07 billion. For the next fiscal year, analysts anticipate that the business will post sales of $9.80 billion per share, with estimates ranging from $9.48 billion to $10.32 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover PulteGroup.
PulteGroup (NYSE:PHM) last released its quarterly earnings data on Tuesday, April 25th. The construction company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. PulteGroup had a return on equity of 12.74% and a net margin of 7.77%. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis.
Several research firms have recently weighed in on PHM. Barclays PLC reissued an “overweight” rating and issued a $24.00 price target (up from $23.00) on shares of PulteGroup in a research note on Tuesday, March 7th. Wedbush reissued an “underperform” rating and issued a $15.00 price target on shares of PulteGroup in a research note on Tuesday, April 25th. Mizuho assumed coverage on shares of PulteGroup in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $22.00 price target on the stock. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, April 26th. Finally, FBR & Co upgraded shares of PulteGroup from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $23.00 to $26.00 in a research report on Tuesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $23.30.
Shares of PulteGroup (NYSE PHM) traded up 1.04% during midday trading on Wednesday, hitting $24.37. The company’s stock had a trading volume of 4,769,244 shares. The company has a market cap of $7.69 billion, a P/E ratio of 13.46 and a beta of 1.21. The company has a 50-day moving average price of $22.91 and a 200 day moving average price of $21.66. PulteGroup has a 1-year low of $17.69 and a 1-year high of $24.73.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Thursday, June 8th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, June 6th. PulteGroup’s dividend payout ratio is presently 19.78%.
In other PulteGroup news, Director Richard J. Dugas, Jr. sold 162,000 shares of PulteGroup stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $24.08, for a total transaction of $3,900,960.00. Following the completion of the sale, the director now directly owns 1,211,927 shares in the company, valued at $29,183,202.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian P. Anderson sold 14,000 shares of PulteGroup stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total transaction of $324,520.00. Following the sale, the director now owns 108,744 shares of the company’s stock, valued at $2,520,685.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 194,000 shares of company stock valued at $4,654,230. Company insiders own 0.71% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Trust Department MB Financial Bank N A bought a new stake in shares of PulteGroup during the first quarter worth $129,000. IFP Advisors Inc boosted its stake in shares of PulteGroup by 12.0% in the first quarter. IFP Advisors Inc now owns 5,959 shares of the construction company’s stock worth $140,000 after buying an additional 638 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of PulteGroup by 12.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,380 shares of the construction company’s stock worth $150,000 after buying an additional 702 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of PulteGroup during the first quarter worth $155,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of PulteGroup by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,162 shares of the construction company’s stock worth $187,000 after buying an additional 110 shares in the last quarter. Institutional investors and hedge funds own 87.63% of the company’s stock.
PulteGroup Company Profile
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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