Zacks: Analysts Expect PulteGroup, Inc. (NYSE:PHM) Will Post Quarterly Sales of $2.97 Billion

Wall Street analysts predict that PulteGroup, Inc. (NYSE:PHM) will announce sales of $2.97 billion for the current quarter, according to Zacks. Six analysts have made estimates for PulteGroup’s earnings, with estimates ranging from $2.95 billion to $3.03 billion. PulteGroup reported sales of $3.00 billion during the same quarter last year, which would suggest a negative year over year growth rate of 1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that PulteGroup will report full year sales of $10.16 billion for the current fiscal year, with estimates ranging from $10.11 billion to $10.22 billion. For the next year, analysts forecast that the company will report sales of $10.94 billion, with estimates ranging from $10.56 billion to $11.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow PulteGroup.

PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, October 22nd. The construction company reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.09. PulteGroup had a net margin of 9.01% and a return on equity of 20.02%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the company posted $1.01 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis.

A number of research firms recently weighed in on PHM. SunTrust Banks began coverage on shares of PulteGroup in a research report on Monday, August 12th. They issued a “buy” rating and a $38.00 price objective on the stock. JPMorgan Chase & Co. raised shares of PulteGroup from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $37.50 in a research report on Wednesday, September 11th. ValuEngine lowered shares of PulteGroup from a “hold” rating to a “sell” rating in a research report on Tuesday. Wells Fargo & Co raised their target price on shares of PulteGroup from $34.00 to $42.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada set a $33.00 target price on shares of PulteGroup and gave the stock a “hold” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. PulteGroup has a consensus rating of “Hold” and an average target price of $36.40.

PulteGroup stock traded down $0.14 during midday trading on Monday, reaching $40.06. The stock had a trading volume of 3,638,114 shares, compared to its average volume of 3,877,729. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.53. PulteGroup has a 52-week low of $24.45 and a 52-week high of $41.22. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.39 and a beta of 0.61. The company has a fifty day moving average of $39.24 and a 200 day moving average of $34.79.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 17th. This is a positive change from PulteGroup’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.20%. PulteGroup’s dividend payout ratio (DPR) is 12.26%.

In other news, SVP James L. Ossowski sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $39.95, for a total transaction of $399,500.00. Following the transaction, the senior vice president now directly owns 25,750 shares of the company’s stock, valued at $1,028,712.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.49% of the company’s stock.

A number of hedge funds have recently modified their holdings of PHM. Man Group plc increased its holdings in PulteGroup by 502.7% during the second quarter. Man Group plc now owns 2,098,548 shares of the construction company’s stock valued at $66,357,000 after buying an additional 1,750,338 shares during the period. Nuveen Asset Management LLC increased its holdings in PulteGroup by 416.9% during the second quarter. Nuveen Asset Management LLC now owns 1,994,991 shares of the construction company’s stock valued at $63,081,000 after buying an additional 1,609,068 shares during the period. Wedge Capital Management L L P NC increased its holdings in PulteGroup by 3,790.4% during the third quarter. Wedge Capital Management L L P NC now owns 1,035,924 shares of the construction company’s stock valued at $37,863,000 after buying an additional 1,009,296 shares during the period. AQR Capital Management LLC increased its holdings in PulteGroup by 13.4% during the second quarter. AQR Capital Management LLC now owns 8,405,551 shares of the construction company’s stock valued at $265,783,000 after buying an additional 990,999 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in PulteGroup by 2,471.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 958,943 shares of the construction company’s stock valued at $30,322,000 after buying an additional 921,658 shares during the period. 86.08% of the stock is currently owned by institutional investors.

PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company acquires and develops land primarily for residential purposes; and constructs housing on such land. It offers various home designs, including single-family detached, townhouses, condominiums, and duplexes under the Centex, Pulte Homes, Del Webb, DiVosta Homes, and John Wieland Homes and Neighborhoods brand names.

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Earnings History and Estimates for PulteGroup (NYSE:PHM)

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