Zacks: Brokerages Anticipate PulteGroup (PHM) Will Post Earnings of $0.44 Per Share

Wall Street analysts forecast that PulteGroup (NYSE:PHM) will report earnings per share of $0.44 for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for PulteGroup’s earnings, with the highest EPS estimate coming in at $0.48 and the lowest estimate coming in at $0.39. PulteGroup posted earnings per share of $0.31 in the same quarter last year, which would indicate a positive year over year growth rate of 41.9%. The firm is expected to report its next earnings results before the market opens on Tuesday, April 24th.

On average, analysts expect that PulteGroup will report full year earnings of $3.11 per share for the current fiscal year, with EPS estimates ranging from $2.86 to $3.50. For the next fiscal year, analysts anticipate that the company will post earnings of $3.52 per share, with EPS estimates ranging from $3.30 to $3.77. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for PulteGroup.

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PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $0.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.85. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. PulteGroup had a return on equity of 15.52% and a net margin of 5.22%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS.

PHM has been the topic of a number of research reports. Mizuho upgraded PulteGroup from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. Zacks Investment Research upgraded PulteGroup from a “sell” rating to a “hold” rating and set a $40.00 price target on the stock in a research report on Thursday, January 4th. ValuEngine upgraded PulteGroup from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Wedbush increased their price target on PulteGroup from $27.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, December 29th. Finally, Credit Suisse Group raised PulteGroup to a “buy” rating and set a $38.00 target price on the stock in a research report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. PulteGroup has an average rating of “Buy” and an average price target of $34.15.

Shares of PulteGroup stock opened at $30.03 on Friday. The company has a market cap of $8,602.54, a PE ratio of 13.71, a P/E/G ratio of 0.47 and a beta of 1.04. PulteGroup has a twelve month low of $21.41 and a twelve month high of $35.21.

PulteGroup announced that its board has authorized a share 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. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Friday, March 16th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, March 15th. PulteGroup’s dividend payout ratio (DPR) is presently 16.44%.

In related news, Director Patrick J. Oleary sold 8,677 shares of PulteGroup stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $30.03, for a total transaction of $260,570.31. Following the sale, the director now directly owns 90,687 shares of the company’s stock, valued at $2,723,330.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.71% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. LMR Partners LLP bought a new position in PulteGroup during the fourth quarter worth about $1,597,000. Capital Bank & Trust Co lifted its stake in PulteGroup by 424.5% during the third quarter. Capital Bank & Trust Co now owns 120,859 shares of the construction company’s stock worth $3,303,000 after purchasing an additional 97,818 shares during the period. BlackRock Inc. lifted its stake in PulteGroup by 3.0% during the fourth quarter. BlackRock Inc. now owns 22,912,891 shares of the construction company’s stock worth $761,852,000 after purchasing an additional 658,662 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PulteGroup by 2.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,053 shares of the construction company’s stock worth $2,196,000 after purchasing an additional 1,760 shares during the period. Finally, Contravisory Investment Management Inc. bought a new position in PulteGroup during the fourth quarter worth about $304,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

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PulteGroup Company Profile

PulteGroup, Inc, through its subsidiaries, primarily engages in the homebuilding business in the United States. The company is involved in the acquisition and development of land primarily for residential purposes; and the construction of 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 names.

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Earnings History and Estimates for PulteGroup (NYSE:PHM)

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