$2.78 Billion in Sales Expected for PulteGroup, Inc. (PHM) This Quarter
Wall Street brokerages expect that PulteGroup, Inc. (NYSE:PHM) will post sales of $2.78 billion for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for PulteGroup’s earnings, with the highest sales estimate coming in at $2.82 billion and the lowest estimate coming in at $2.72 billion. PulteGroup reported sales of $2.49 billion during the same quarter last year, which indicates a positive year over year growth rate of 11.6%. The business is expected to issue its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that PulteGroup will report full year sales of $2.78 billion for the current year, with estimates ranging from $8.33 billion to $8.59 billion. For the next fiscal year, analysts anticipate that the business will report sales of $10.17 billion per share, with estimates ranging from $9.52 billion to $11.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover PulteGroup.
PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.30 billion. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share.
Several equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Monday. KeyCorp reiterated a “hold” rating on shares of PulteGroup in a research report on Wednesday. BidaskClub upgraded shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 17th. Wedbush upgraded shares of PulteGroup from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $15.00 to $22.00 in a research report on Thursday, July 13th. Finally, FBR & Co reiterated a “buy” rating and issued a $31.00 price objective (up from $28.00) on shares of PulteGroup in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. PulteGroup has a consensus rating of “Hold” and an average target price of $28.67.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 19th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $0.36 annualized dividend and a dividend yield of 1.19%. PulteGroup’s payout ratio is currently 17.91%.
In other news, insider James R. Ellinghausen sold 136,912 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the transaction, the insider now directly owns 294,369 shares in the company, valued at approximately $8,742,759.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.71% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Flinton Capital Management LLC lifted its holdings in shares of PulteGroup by 0.4% during the 2nd quarter. Flinton Capital Management LLC now owns 12,288 shares of the construction company’s stock worth $302,000 after acquiring an additional 48 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of PulteGroup by 3.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock worth $100,000 after acquiring an additional 148 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of PulteGroup by 1.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 13,673 shares of the construction company’s stock worth $336,000 after acquiring an additional 159 shares during the period. McKinley Carter Wealth Services Inc. lifted its holdings in shares of PulteGroup by 1.7% during the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 10,417 shares of the construction company’s stock worth $256,000 after acquiring an additional 172 shares during the period. Finally, Dumont & Blake Investment Advisors LLC lifted its holdings in shares of PulteGroup by 0.4% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 39,600 shares of the construction company’s stock worth $971,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 85.39% 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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