Brokerages Expect PulteGroup, Inc. (PHM) Will Post Earnings of $0.44 Per Share

Brokerages expect that PulteGroup, Inc. (NYSE:PHM) will announce earnings of $0.44 per share for the current quarter, Zacks reports. Six analysts have made estimates for PulteGroup’s earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.48. PulteGroup posted earnings of $0.31 per share in the same quarter last year, which suggests a positive year over year growth rate of 41.9%. The business is scheduled to report its next quarterly earnings results on Tuesday, April 24th.

According to Zacks, analysts expect that PulteGroup will report full-year earnings of $3.11 per share for the current fiscal year, with EPS estimates ranging from $2.86 to $3.50. For the next fiscal year, analysts forecast that the business will report earnings of $3.52 per share, with EPS estimates ranging from $3.30 to $3.77. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover PulteGroup.

PulteGroup (NYSE:PHM) last announced its earnings results on Tuesday, January 30th. The construction company reported $0.85 EPS for the quarter, meeting analysts’ consensus estimates of $0.85. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the firm earned $0.67 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year.

A number of brokerages have commented on PHM. Royal Bank of Canada set a $39.00 target price on PulteGroup and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research cut PulteGroup from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. B. Riley reissued a “hold” rating and set a $36.00 target price on shares of PulteGroup in a report on Wednesday, January 31st. Credit Suisse Group upgraded PulteGroup to a “buy” rating and set a $38.00 price target for the company in a research report on Wednesday, January 31st. Finally, Mizuho upgraded PulteGroup from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.85.

In related news, insider James R. Ellinghausen sold 67,490 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $32.35, for a total value of $2,183,301.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Oshaughnessy sold 92,800 shares of the stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $33.89, for a total value of $3,144,992.00. Following the completion of the transaction, the chief financial officer now owns 363,722 shares of the company’s stock, valued at $12,326,538.58. The disclosure for this sale can be found here. Corporate insiders own 0.71% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC boosted its position in shares of PulteGroup by 747.1% during the third quarter. Janus Henderson Group PLC now owns 1,323,075 shares of the construction company’s stock worth $36,159,000 after buying an additional 1,166,885 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its position in shares of PulteGroup by 2,015.5% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 1,046,201 shares of the construction company’s stock worth $28,591,000 after buying an additional 996,747 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of PulteGroup during the fourth quarter worth $32,668,000. AXA purchased a new position in shares of PulteGroup during the fourth quarter worth $30,608,000. Finally, Todd Asset Management LLC boosted its position in shares of PulteGroup by 117.0% during the third quarter. Todd Asset Management LLC now owns 1,680,010 shares of the construction company’s stock worth $45,915,000 after buying an additional 905,952 shares during the period. Institutional investors own 82.96% of the company’s stock.

Shares of PulteGroup (NYSE:PHM) traded up $0.46 during trading on Wednesday, hitting $29.46. The company’s stock had a trading volume of 6,174,993 shares, compared to its average volume of 5,413,687. PulteGroup has a fifty-two week low of $21.13 and a fifty-two week high of $35.21. The firm has a market capitalization of $8,359.05, a PE ratio of 20.46, a P/E/G ratio of 0.46 and a beta of 1.03.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Friday, March 16th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.36 annualized dividend and a yield of 1.22%. PulteGroup’s payout ratio is 25.00%.

PulteGroup declared that its Board of Directors has authorized a stock repurchase program on Tuesday, January 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

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About PulteGroup

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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Earnings History and Estimates for PulteGroup (NYSE:PHM)

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