PulteGroup, Inc. (PHM) Expected to Post Quarterly Sales of $2.35 Billion
Wall Street analysts predict that PulteGroup, Inc. (NYSE:PHM) will post $2.35 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for PulteGroup’s earnings. The highest sales estimate is $2.45 billion and the lowest is $2.24 billion. PulteGroup reported sales of $1.94 billion in the same quarter last year, which would indicate a positive year over year growth rate of 21.1%. The company is scheduled to report its next quarterly earnings results on Thursday, October 19th.
On average, analysts expect that PulteGroup will report full year sales of $2.35 billion for the current financial year, with estimates ranging from $8.67 billion to $9.07 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $10.10 billion per share, with estimates ranging from $9.59 billion to $10.40 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow PulteGroup.
PulteGroup (NYSE:PHM) last issued its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the business posted $0.37 earnings per share. The company’s quarterly revenue was up 12.3% compared to the same quarter last year.
A number of brokerages have issued reports on PHM. Bank of America Corporation reissued a “buy” rating and issued a $30.00 target price (up previously from $29.00) on shares of PulteGroup in a research report on Tuesday, June 27th. Credit Suisse Group began coverage on PulteGroup in a research report on Thursday, June 22nd. They set an “outperform” rating and a $27.00 price objective on the stock. BidaskClub raised PulteGroup from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Wedbush raised PulteGroup from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $15.00 to $22.00 in a research report on Thursday, July 13th. Finally, Barclays PLC lowered 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 research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $25.08.
Shares of PulteGroup (NYSE PHM) opened at 25.28 on Friday. The firm’s 50-day moving average price is $24.80 and its 200-day moving average price is $23.43. The stock has a market capitalization of $7.63 billion, a P/E ratio of 13.99 and a beta of 1.14. PulteGroup has a 12 month low of $17.69 and a 12 month high of $26.00.
In other PulteGroup news, Director Brian P. Anderson sold 14,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total value 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 $2,520,685.92. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.71% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC raised its stake in PulteGroup by 68.5% in the second quarter. IHT Wealth Management LLC now owns 984 shares of the construction company’s stock valued at $1,017,000 after buying an additional 400 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of PulteGroup by 3.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock worth $100,000 after buying an additional 148 shares during the period. IFP Advisors Inc raised 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 during the period. Northwestern Mutual Wealth Management Co. raised 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 during the period. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of PulteGroup during the first quarter worth about $155,000. Institutional investors and hedge funds own 88.12% of the company’s stock.
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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