PulteGroup, Inc. (PHM) Expected to Post Earnings of $0.61 Per Share
Analysts expect that PulteGroup, Inc. (NYSE:PHM) will report earnings of $0.61 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for PulteGroup’s earnings. The lowest EPS estimate is $0.58 and the highest is $0.64. PulteGroup posted earnings of $0.43 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 41.9%. The company is expected to issue its next earnings report on Thursday, October 19th.
On average, analysts expect that PulteGroup will report full-year earnings of $2.24 per share for the current year, with EPS estimates ranging from $2.20 to $2.30. For the next fiscal year, analysts anticipate that the business will post earnings of $2.71 per share, with EPS estimates ranging from $2.55 to $3.02. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that cover PulteGroup.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. PulteGroup had a net margin of 7.35% and a return on equity of 13.43%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share.
Several brokerages have recently weighed in on PHM. Bank of America Corporation reiterated a “buy” rating and issued a $30.00 price objective (up previously from $29.00) on shares of PulteGroup in a research note on Tuesday, June 27th. Credit Suisse Group began coverage on shares of PulteGroup in a research report on Thursday, June 22nd. They set an “outperform” rating and a $27.00 price objective on the stock. BidaskClub upgraded shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Wedbush upgraded shares of PulteGroup from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $15.00 to $22.00 in a research report on Thursday, July 13th. Finally, Barclays PLC cut shares of PulteGroup from an “overweight” rating to an “equal weight” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, July 11th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $25.08.
Shares of PulteGroup (PHM) traded down 0.39% during mid-day trading on Thursday, reaching $25.82. 1,155,140 shares of the company’s stock traded hands. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of 14.29 and a beta of 1.14. PulteGroup has a 12-month low of $17.69 and a 12-month high of $26.00. The firm’s 50 day moving average price is $24.74 and its 200-day moving average price is $23.39.
In other news, Director Brian P. Anderson sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $23.18, for a total transaction of $324,520.00. Following the completion of the transaction, the director now directly owns 108,744 shares of the company’s stock, valued at approximately $2,520,685.92. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.71% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. James Investment Research Inc. purchased a new position in PulteGroup during the first quarter valued at approximately $427,000. Hexavest Inc. increased its position in PulteGroup by 4.8% in the first quarter. Hexavest Inc. now owns 3,263,222 shares of the construction company’s stock valued at $76,849,000 after buying an additional 149,914 shares in the last quarter. Trust Department MB Financial Bank N A purchased a new position in PulteGroup during the first quarter valued at approximately $129,000. Boston Advisors LLC purchased a new position in PulteGroup during the first quarter valued at approximately $17,839,000. Finally, Patten & Patten Inc. TN increased its position in PulteGroup by 6.9% in the first quarter. Patten & Patten Inc. TN now owns 580,675 shares of the construction company’s stock valued at $13,675,000 after buying an additional 37,270 shares in the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.
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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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