Zacks: Brokerages Expect PulteGroup, Inc. (NYSE:PHM) Will Announce Quarterly Sales of $2.91 Billion

Analysts expect PulteGroup, Inc. (NYSE:PHM) to post $2.91 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for PulteGroup’s earnings, with the highest sales estimate coming in at $2.99 billion and the lowest estimate coming in at $2.87 billion. PulteGroup reported sales of $3.00 billion in the same quarter last year, which would suggest a negative year over year growth rate of 3%. The company is expected to issue its next earnings results on Tuesday, February 4th.

On average, analysts expect that PulteGroup will report full-year sales of $10.04 billion for the current year, with estimates ranging from $9.92 billion to $10.17 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $10.64 billion, with estimates ranging from $10.39 billion to $10.88 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for PulteGroup.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, October 22nd. The construction company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.09. PulteGroup had a return on equity of 20.68% and a net margin of 9.23%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year.

Several analysts have recently commented on the company. Wells Fargo & Co restated a “market perform” rating and set a $42.00 target price (up previously from $34.00) on shares of PulteGroup in a report on Wednesday. ValuEngine cut PulteGroup from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded PulteGroup from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Wednesday. Wedbush increased their target price on PulteGroup from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, SunTrust Banks assumed coverage on PulteGroup in a report on Monday, August 12th. They set a “buy” rating and a $38.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.85.

NYSE:PHM traded up $0.40 during trading hours on Friday, reaching $39.83. The company had a trading volume of 4,193,446 shares, compared to its average volume of 3,948,599. The stock has a 50-day moving average of $36.26 and a two-hundred day moving average of $32.95. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $10.47 billion, a PE ratio of 11.09, a PEG ratio of 1.51 and a beta of 0.65. PulteGroup has a one year low of $22.10 and a one year high of $39.86.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Wednesday, September 18th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.10%. The ex-dividend date was Tuesday, September 17th. PulteGroup’s dividend payout ratio is 12.26%.

A number of institutional investors have recently bought and sold shares of PHM. Ibex Wealth Advisors bought a new position in PulteGroup in the second quarter valued at about $37,000. Pearl River Capital LLC bought a new position in PulteGroup in the second quarter valued at about $38,000. Neo Ivy Capital Management bought a new position in PulteGroup in the second quarter valued at about $39,000. Point72 Asset Management L.P. bought a new position in PulteGroup in the second quarter valued at about $47,000. Finally, Rational Advisors LLC boosted its holdings in PulteGroup by 2,191.7% in the second quarter. Rational Advisors LLC now owns 1,650 shares of the construction company’s stock valued at $52,000 after acquiring an additional 1,578 shares during the last quarter. Institutional investors and hedge funds own 86.46% of the company’s stock.

About PulteGroup

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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