Analysts forecast that PulteGroup, Inc. (NYSE:PHM) will report sales of $1.84 billion for the current fiscal quarter, Zacks reports. Six analysts have made estimates for PulteGroup’s earnings. The lowest sales estimate is $1.81 billion and the highest is $1.93 billion. PulteGroup reported sales of $1.63 billion in the same quarter last year, which indicates a positive year over year growth rate of 12.9%. The company is expected to issue its next quarterly earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that PulteGroup will report full-year sales of $1.84 billion for the current fiscal year, with estimates ranging from $9.48 billion to $9.86 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $10.73 billion per share, with estimates ranging from $10.22 billion to $11.37 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for PulteGroup.
PulteGroup (NYSE:PHM) last posted its quarterly earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.85. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. PulteGroup had a net margin of 5.22% and a return on equity of 15.52%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share.
Several research analysts have issued reports on the stock. B. Riley restated a “buy” rating on shares of PulteGroup in a research report on Wednesday, November 1st. Royal Bank of Canada set a $39.00 price target on shares of PulteGroup and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Zacks Investment Research lowered shares of PulteGroup from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Bank of America set a $34.00 price target on shares of PulteGroup and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Finally, Wedbush restated a “neutral” rating and issued a $22.00 price target (down previously from $27.00) on shares of PulteGroup in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned 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.
PulteGroup (NYSE:PHM) traded up $0.24 during trading on Friday, reaching $29.74. 4,990,000 shares of the company’s stock traded hands, compared to its average volume of 5,397,985. The firm has a market capitalization of $8,740.00, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 0.47 and a beta of 1.03. PulteGroup has a 12-month low of $21.13 and a 12-month high of $35.21.
PulteGroup declared that its board has authorized a stock repurchase program on Tuesday, January 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Friday, March 16th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 15th. PulteGroup’s payout ratio is 24.49%.
In other PulteGroup 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 transaction of $3,144,992.00. Following the transaction, the chief financial officer now directly owns 363,722 shares in the company, valued at approximately $12,326,538.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.71% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Achmea Investment Management B.V. acquired a new stake in shares of PulteGroup during the 2nd quarter valued at $253,000. Capital Bank & Trust Co boosted its stake in shares of PulteGroup by 424.5% during the 3rd quarter. Capital Bank & Trust Co now owns 120,859 shares of the construction company’s stock valued at $3,303,000 after buying an additional 97,818 shares during the period. Andra AP fonden boosted its stake in shares of PulteGroup by 11.5% during the 3rd quarter. Andra AP fonden now owns 126,600 shares of the construction company’s stock valued at $3,460,000 after buying an additional 13,100 shares during the period. LMR Partners LLP acquired a new stake in shares of PulteGroup during the 4th quarter valued at $1,597,000. Finally, Janus Henderson Group PLC boosted its stake in shares of PulteGroup by 747.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,323,075 shares of the construction company’s stock valued at $36,159,000 after buying an additional 1,166,885 shares during the period. Hedge funds and other institutional investors own 83.80% of the company’s stock.
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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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