PulteGroup (PHM) Set to Announce Quarterly Earnings on Tuesday

PulteGroup (NYSE:PHM) will be issuing its quarterly earnings data before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $2.36 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Tuesday, January 30th. The construction company reported $3.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.21 by $0.07. The business had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. PulteGroup’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.63 earnings per share. On average, analysts expect PulteGroup to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

PulteGroup Stock Down 1.9 %

Shares of NYSE:PHM opened at $108.79 on Tuesday. The company has a market capitalization of $22.95 billion, a PE ratio of 9.27, a price-to-earnings-growth ratio of 0.54 and a beta of 1.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day moving average price of $110.24 and a two-hundred day moving average price of $97.48. PulteGroup has a 1 year low of $59.95 and a 1 year high of $121.07.

PulteGroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.74%. PulteGroup’s dividend payout ratio is presently 6.81%.

PulteGroup announced that its Board of Directors has initiated a share repurchase program on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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 dated Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now owns 15,389 shares of the company’s stock, valued at approximately $1,586,452.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PulteGroup

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of PulteGroup in the 4th quarter valued at approximately $163,931,000. First Trust Advisors LP grew its stake in shares of PulteGroup by 29.4% in the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock valued at $203,232,000 after purchasing an additional 1,101,565 shares during the last quarter. Invesco Ltd. grew its stake in shares of PulteGroup by 36.3% in the 1st quarter. Invesco Ltd. now owns 3,651,100 shares of the construction company’s stock valued at $152,982,000 after purchasing an additional 972,310 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of PulteGroup in the fourth quarter valued at approximately $37,289,000. Finally, Morgan Stanley boosted its stake in shares of PulteGroup by 18.5% in the fourth quarter. Morgan Stanley now owns 3,745,286 shares of the construction company’s stock valued at $170,523,000 after buying an additional 585,199 shares in the last quarter. Institutional investors and hedge funds own 89.90% of the company’s stock.

Analyst Ratings Changes

PHM has been the subject of several research analyst reports. Citigroup lifted their target price on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. StockNews.com downgraded shares of PulteGroup from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. UBS Group downgraded shares of PulteGroup from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $93.00 to $120.00 in a research report on Thursday, January 4th. Raymond James boosted their target price on shares of PulteGroup from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, February 5th. Finally, The Goldman Sachs Group upped their target price on shares of PulteGroup from $91.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, January 11th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $106.47.

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.