Zacks: Brokerages Anticipate PulteGroup, Inc. (NYSE:PHM) Will Announce Earnings of $1.85 Per Share

Brokerages predict that PulteGroup, Inc. (NYSE:PHM) will announce earnings of $1.85 per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for PulteGroup’s earnings, with the lowest EPS estimate coming in at $1.72 and the highest estimate coming in at $1.96. PulteGroup posted earnings per share of $1.34 in the same quarter last year, which would indicate a positive year-over-year growth rate of 38.1%. The company is expected to issue its next earnings results before the market opens on Tuesday, October 26th.

According to Zacks, analysts expect that PulteGroup will report full year earnings of $7.37 per share for the current financial year, with EPS estimates ranging from $7.00 to $7.70. For the next financial year, analysts anticipate that the company will report earnings of $8.71 per share, with EPS estimates ranging from $8.39 to $9.53. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover PulteGroup.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, July 27th. The construction company reported $1.72 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.72. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.50 billion. PulteGroup had a return on equity of 23.69% and a net margin of 13.58%. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period last year, the business posted $1.15 EPS.

PHM has been the topic of several analyst reports. Zacks Investment Research downgraded PulteGroup from a “strong-buy” rating to a “hold” rating and set a $57.00 target price on the stock. in a research report on Tuesday, June 29th. JPMorgan Chase & Co. lowered their target price on PulteGroup from $81.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday. Citigroup lowered their target price on PulteGroup from $63.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, September 27th. BTIG Research lowered their target price on PulteGroup from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, September 9th. Finally, Seaport Res Ptn reiterated a “neutral” rating on shares of PulteGroup in a research report on Monday, July 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PulteGroup currently has a consensus rating of “Buy” and a consensus price target of $60.14.

Several hedge funds have recently modified their holdings of PHM. Marshall Wace LLP bought a new stake in shares of PulteGroup in the first quarter worth about $111,000. Rockefeller Capital Management L.P. increased its stake in PulteGroup by 1.6% during the first quarter. Rockefeller Capital Management L.P. now owns 18,314 shares of the construction company’s stock worth $960,000 after acquiring an additional 281 shares during the last quarter. Boston Private Wealth LLC increased its stake in PulteGroup by 4.0% during the first quarter. Boston Private Wealth LLC now owns 11,954 shares of the construction company’s stock worth $626,000 after acquiring an additional 463 shares during the last quarter. Teacher Retirement System of Texas increased its stake in PulteGroup by 153.3% during the first quarter. Teacher Retirement System of Texas now owns 134,329 shares of the construction company’s stock worth $7,044,000 after acquiring an additional 81,289 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co increased its stake in PulteGroup by 1.4% during the first quarter. Elo Mutual Pension Insurance Co now owns 19,342 shares of the construction company’s stock worth $1,014,000 after acquiring an additional 275 shares during the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

NYSE PHM traded up $1.22 on Friday, hitting $49.00. 59,258 shares of the company traded hands, compared to its average volume of 2,750,794. The company has a market capitalization of $12.72 billion, a price-to-earnings ratio of 7.72 and a beta of 1.43. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average price is $50.44 and its 200-day moving average price is $53.48. PulteGroup has a 52-week low of $39.92 and a 52-week high of $63.90.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 5th. Stockholders of record on Monday, September 20th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, September 17th. This represents a $0.56 annualized dividend and a dividend yield of 1.14%. PulteGroup’s dividend payout ratio (DPR) is 11.89%.

About PulteGroup

PulteGroup, Inc engages in the homebuilding business. The firm also involved in the mortgage banking, and title and insurance brokerage operations. It operates through the Homebuilding and Financial services business segments. The Homebuilding segment comprises of operations from the Connecticut, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Virginia, Georgia, North Carolina, South Carolina, Tennessee, Florida, Illinois, Indiana, Kentucky, Michigan, Minnesota, Missouri, Ohio, Texas, Arizona, California, Nevada, New Mexico, and Washington.

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Earnings History and Estimates for PulteGroup (NYSE:PHM)

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