FY2024 EPS Estimates for PulteGroup, Inc. Boosted by Wedbush (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) – Analysts at Wedbush raised their FY2024 EPS estimates for PulteGroup in a research note issued on Tuesday, April 23rd. Wedbush analyst J. Mccanless now expects that the construction company will post earnings per share of $12.60 for the year, up from their prior estimate of $11.21. Wedbush has a “Neutral” rating and a $85.00 price objective on the stock. The consensus estimate for PulteGroup’s current full-year earnings is $11.79 per share. Wedbush also issued estimates for PulteGroup’s Q4 2024 earnings at $3.17 EPS, Q1 2025 earnings at $2.89 EPS, Q4 2025 earnings at $3.72 EPS and FY2025 earnings at $13.24 EPS.

PHM has been the subject of a number of other research reports. Royal Bank of Canada raised their price objective on shares of PulteGroup from $106.00 to $113.00 and gave the stock a “sector perform” rating in a report on Wednesday. The Goldman Sachs Group lifted their target price on shares of PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Jefferies Financial Group boosted their price objective on shares of PulteGroup from $126.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com raised shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Barclays boosted their price objective on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, PulteGroup has an average rating of “Moderate Buy” and a consensus price target of $110.73.

PulteGroup Stock Down 0.4 %

PHM opened at $112.26 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.85 and a quick ratio of 0.86. The company’s 50-day moving average is $110.90 and its 200 day moving average is $99.05. PulteGroup has a fifty-two week low of $64.41 and a fifty-two week high of $121.07. The firm has a market capitalization of $23.69 billion, a P/E ratio of 8.99, a PEG ratio of 0.55 and a beta of 1.56.

PulteGroup (NYSE:PHM) last released its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.07. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same period last year, the firm earned $3.63 earnings per share. The firm’s revenue was down 15.5% on a year-over-year basis.

Institutional Investors Weigh In On PulteGroup

Institutional investors have recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in PulteGroup during the 1st quarter valued at $26,000. Arlington Trust Co LLC bought a new position in PulteGroup in the 3rd quarter worth $33,000. Baystate Wealth Management LLC raised its holdings in PulteGroup by 186.5% in the 3rd quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after purchasing an additional 319 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in PulteGroup in the 3rd quarter worth $36,000. Finally, Rakuten Securities Inc. bought a new position in PulteGroup in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.83% of the stock is currently owned by corporate insiders.

PulteGroup declared that its Board of Directors has approved a stock buyback program on Tuesday, January 30th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the construction company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.71%. PulteGroup’s dividend payout ratio (DPR) is 6.41%.

PulteGroup Company Profile

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