PulteGroup, Inc. (NYSE:PHM) to Post Q3 2024 Earnings of $3.24 Per Share, Seaport Res Ptn Forecasts

PulteGroup, Inc. (NYSE:PHM) – Equities researchers at Seaport Res Ptn lifted their Q3 2024 EPS estimates for PulteGroup in a research note issued to investors on Tuesday, April 23rd. Seaport Res Ptn analyst K. Zener now anticipates that the construction company will post earnings of $3.24 per share for the quarter, up from their prior forecast of $3.10. The consensus estimate for PulteGroup’s current full-year earnings is $11.96 per share. Seaport Res Ptn also issued estimates for PulteGroup’s FY2025 earnings at $12.48 EPS.

PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Tuesday, January 30th. The construction company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.07. The firm had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.47 billion. PulteGroup had a return on equity of 25.81% and a net margin of 16.63%. The company’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the business posted $3.63 EPS.

PHM has been the topic of a number of other research reports. Citigroup increased their price target on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Wedbush reiterated a “neutral” rating and set a $85.00 price objective on shares of PulteGroup in a research note on Wednesday, January 31st. Royal Bank of Canada boosted 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. Zelman & Associates upgraded PulteGroup from a “neutral” rating to an “outperform” rating in a report on Wednesday. Finally, StockNews.com raised PulteGroup from a “hold” rating to a “buy” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $111.73.

PulteGroup Trading Up 2.1 %

NYSE:PHM opened at $113.74 on Thursday. PulteGroup has a twelve month low of $64.70 and a twelve month high of $121.07. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $111.28 and a two-hundred day moving average price of $99.42. The company has a market cap of $23.92 billion, a P/E ratio of 9.11, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56.

Institutional Investors Weigh In On PulteGroup

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

Insider Activity at PulteGroup

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

PulteGroup Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 0.70%. PulteGroup’s dividend payout ratio is presently 6.41%.

PulteGroup announced that its board has approved a share buyback program on Tuesday, January 30th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the construction company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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.