Brokerages predict that PulteGroup, Inc. (NYSE:PHM) will post sales of $2.33 billion for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for PulteGroup’s earnings, with the highest sales estimate coming in at $2.45 billion and the lowest estimate coming in at $2.19 billion. PulteGroup reported sales of $1.94 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.1%. The company is expected to issue its next earnings results before the market opens on Tuesday, October 24th.
On average, analysts expect that PulteGroup will report full-year sales of $2.33 billion for the current year, with estimates ranging from $8.62 billion to $9.07 billion. For the next financial year, analysts anticipate that the business will report sales of $10.11 billion per share, with estimates ranging from $9.59 billion to $10.41 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for 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 Zacks’ consensus estimate of $0.45 by $0.02. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company earned $0.37 EPS. The company’s quarterly revenue was up 12.3% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the company. Bank of America Corporation restated a “buy” rating and set a $30.00 price objective (up previously from $29.00) on shares of PulteGroup in a report on Tuesday, June 27th. Credit Suisse Group assumed coverage on PulteGroup in a report on Thursday, June 22nd. They set an “outperform” rating and a $27.00 price objective for the company. Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday, July 4th. MKM Partners restated a “neutral” rating on shares of PulteGroup in a report on Tuesday, September 5th. Finally, Mizuho cut PulteGroup from a “neutral” rating to an “underperform” rating and set a $22.00 price objective for the company. in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. PulteGroup currently has an average rating of “Hold” and an average price target of $25.45.
Several hedge funds have recently modified their holdings of PHM. BlackRock Inc. boosted its stake in shares of PulteGroup by 3,521.7% in the first quarter. BlackRock Inc. now owns 22,891,339 shares of the construction company’s stock valued at $539,092,000 after buying an additional 22,259,277 shares during the period. Fiera Capital Corp bought a new stake in shares of PulteGroup in the second quarter valued at approximately $45,333,000. LSV Asset Management boosted its stake in shares of PulteGroup by 150.9% in the second quarter. LSV Asset Management now owns 2,029,335 shares of the construction company’s stock valued at $49,779,000 after buying an additional 1,220,579 shares during the period. State of New Jersey Common Pension Fund D bought a new stake in shares of PulteGroup in the second quarter valued at approximately $29,436,000. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of PulteGroup by 146.9% in the second quarter. Parametric Portfolio Associates LLC now owns 1,566,185 shares of the construction company’s stock valued at $38,419,000 after buying an additional 931,971 shares during the period. Institutional investors and hedge funds own 85.50% of the company’s stock.
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Shares of PulteGroup (NYSE:PHM) traded up 0.77% during mid-day trading on Friday, hitting $27.32. The company’s stock had a trading volume of 3,758,457 shares. PulteGroup has a 1-year low of $17.69 and a 1-year high of $27.76. The company has a 50-day moving average of $26.38 and a 200 day moving average of $24.52. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 15.12 and a beta of 1.06.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 19th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Monday, September 18th. PulteGroup’s dividend payout ratio (DPR) is currently 20.00%.
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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