Analysts Anticipate PulteGroup, Inc. (PHM) Will Post Quarterly Sales of $2.04 Billion
Analysts forecast that PulteGroup, Inc. (NYSE:PHM) will post sales of $2.04 billion for the current quarter, according to Zacks. Six analysts have made estimates for PulteGroup’s earnings, with the highest sales estimate coming in at $2.07 billion and the lowest estimate coming in at $1.96 billion. PulteGroup reported sales of $1.80 billion in the same quarter last year, which would suggest a positive year over year growth rate of 13.3%. The business is expected to announce its next quarterly earnings report before the market opens on Tuesday, July 25th.
On average, analysts expect that PulteGroup will report full-year sales of $2.04 billion for the current financial year, with estimates ranging from $8.67 billion to $9.07 billion. For the next financial year, analysts expect that the business will report sales of $9.80 billion per share, with estimates ranging from $9.48 billion to $10.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow PulteGroup.
PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, April 25th. The construction company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. PulteGroup had a net margin of 7.77% and a return on equity of 12.74%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company posted $0.24 EPS. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year.
PHM has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday. Bank of America Corporation restated a “buy” rating and issued a $30.00 price objective (up from $29.00) on shares of PulteGroup in a research report on Tuesday, June 27th. Mizuho initiated coverage on shares of PulteGroup in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $22.00 price objective on the stock. Credit Suisse Group initiated coverage on shares of PulteGroup in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $27.00 price objective on the stock. Finally, BidaskClub upgraded shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $24.18.
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In other PulteGroup news, Director Richard J. Dugas, Jr. sold 162,000 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $24.08, for a total value of $3,900,960.00. Following the completion of the sale, the director now owns 1,211,927 shares of the company’s stock, valued at $29,183,202.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James L. Ossowski sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $23.95, for a total value of $239,500.00. Following the completion of the sale, the insider now directly owns 31,936 shares of the company’s stock, valued at approximately $764,867.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,000 shares of company stock valued at $4,464,980. 0.71% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the company. Bremer Trust National Association purchased a new stake in shares of PulteGroup during the second quarter valued at about $576,000. Xact Kapitalforvaltning AB raised its stake in shares of PulteGroup by 5.7% in the second quarter. Xact Kapitalforvaltning AB now owns 53,883 shares of the construction company’s stock valued at $1,322,000 after buying an additional 2,888 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of PulteGroup by 55.2% in the first quarter. Public Employees Retirement System of Ohio now owns 395,998 shares of the construction company’s stock valued at $9,326,000 after buying an additional 140,895 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of PulteGroup by 949.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 396,820 shares of the construction company’s stock valued at $9,345,000 after buying an additional 359,000 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of PulteGroup during the first quarter valued at about $897,000. 87.76% of the stock is owned by institutional investors and hedge funds.
PulteGroup (NYSE PHM) traded up 2.17% during midday trading on Friday, hitting $24.94. 9,620,655 shares of the stock were exchanged. The company’s 50 day moving average is $23.49 and its 200 day moving average is $22.07. PulteGroup has a 1-year low of $17.69 and a 1-year high of $25.20. The company has a market capitalization of $7.87 billion, a P/E ratio of 13.77 and a beta of 1.15.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Thursday, June 8th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Tuesday, June 6th. PulteGroup’s dividend payout ratio is currently 19.78%.
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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