Equities Analysts Set Expectations for PulteGroup, Inc.’s FY2018 Earnings (PHM)
PulteGroup, Inc. (NYSE:PHM) – Investment analysts at B. Riley increased their FY2018 EPS estimates for shares of PulteGroup in a research report issued on Wednesday. B. Riley analyst A. Rygiel now anticipates that the construction company will earn $3.03 per share for the year, up from their prior estimate of $2.60. B. Riley currently has a “Neutral” rating and a $36.00 price target on the stock.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of PulteGroup from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine raised shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Wedbush lifted their target price on shares of PulteGroup from $27.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, December 29th. Buckingham Research cut shares of PulteGroup from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $31.00 to $33.00 in a report on Sunday, November 26th. Finally, KeyCorp reaffirmed a “hold” rating on shares of PulteGroup in a report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. PulteGroup has an average rating of “Hold” and a consensus price target of $31.38.
PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. PulteGroup had a net margin of 7.77% and a return on equity of 14.38%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the company posted $0.43 EPS. PulteGroup’s revenue was up 9.6% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Tuesday, December 12th were paid a $0.09 dividend. The ex-dividend date was Monday, December 11th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.05%. PulteGroup’s dividend payout ratio is presently 17.91%.
In other news, CFO Robert Oshaughnessy sold 92,800 shares of PulteGroup stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $33.89, for a total value of $3,144,992.00. Following the completion of the sale, the chief financial officer now directly owns 363,722 shares in the company, valued at $12,326,538.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James R. Ellinghausen sold 67,490 shares of PulteGroup stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $32.35, for a total transaction of $2,183,301.50. The disclosure for this sale can be found here. Insiders sold 297,202 shares of company stock valued at $9,394,580 over the last quarter. Company insiders own 0.71% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Flinton Capital Management LLC grew its position in PulteGroup by 0.4% during the second quarter. Flinton Capital Management LLC now owns 12,288 shares of the construction company’s stock valued at $302,000 after buying an additional 48 shares during the period. Tower Research Capital LLC TRC grew its position in PulteGroup by 3.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the construction company’s stock valued at $100,000 after buying an additional 148 shares during the period. Riverhead Capital Management LLC boosted its position in shares of PulteGroup by 1.2% in the second quarter. Riverhead Capital Management LLC now owns 13,673 shares of the construction company’s stock worth $336,000 after purchasing an additional 159 shares during the period. Thrivent Financial For Lutherans boosted its position in shares of PulteGroup by 2.2% in the second quarter. Thrivent Financial For Lutherans now owns 10,722 shares of the construction company’s stock worth $263,000 after purchasing an additional 230 shares during the period. Finally, IHT Wealth Management LLC boosted its position in shares of PulteGroup by 68.5% in the second quarter. IHT Wealth Management LLC now owns 984 shares of the construction company’s stock worth $1,017,000 after purchasing an additional 400 shares during the period. Institutional investors own 84.53% 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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