Q2 2024 EPS Estimates for PulteGroup, Inc. Lifted by Wedbush (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) – Stock analysts at Wedbush lifted their Q2 2024 earnings per share estimates for shares of PulteGroup in a research report issued to clients and investors on Tuesday, April 23rd. Wedbush analyst J. Mccanless now forecasts that the construction company will post earnings per share of $3.17 for the quarter, up from their previous estimate of $2.86. Wedbush currently has a “Neutral” rating and a $85.00 target price 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 Q3 2024 earnings at $3.15 EPS, Q2 2025 earnings at $3.19 EPS and Q3 2025 earnings at $3.45 EPS.

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

Several other equities analysts have also recently issued reports on the company. Royal Bank of Canada lifted their price objective on PulteGroup from $103.00 to $106.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. UBS Group cut PulteGroup from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $93.00 to $120.00 in a research note on Thursday, January 4th. Citigroup boosted their target price on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Raymond James boosted their target price on PulteGroup from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, The Goldman Sachs Group boosted their target price on PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, PulteGroup presently has an average rating of “Moderate Buy” and a consensus target price of $106.47.

PulteGroup Stock Performance

Shares of PHM opened at $112.76 on Wednesday. The stock has a 50-day simple moving average of $110.73 and a 200-day simple moving average of $98.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $23.79 billion, a PE ratio of 9.60, a PEG ratio of 0.52 and a beta of 1.56. PulteGroup has a 1 year low of $62.35 and a 1 year high of $121.07.

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

PulteGroup Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, March 14th. PulteGroup’s dividend payout ratio is currently 6.81%.

Insider Buying and Selling at PulteGroup

In other news, VP Brien P. O’meara sold 2,000 shares of the business’s stock in a transaction that occurred 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 owns 15,389 shares of the company’s stock, valued at $1,586,452.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Rakuten Securities Inc. acquired a new position in shares of PulteGroup in the fourth quarter valued at approximately $37,000. Lindbrook Capital LLC increased its holdings in shares of PulteGroup by 335.6% in the fourth quarter. Lindbrook Capital LLC now owns 379 shares of the construction company’s stock valued at $39,000 after purchasing an additional 292 shares during the period. Security National Bank acquired a new position in shares of PulteGroup in the fourth quarter valued at approximately $40,000. ORG Partners LLC increased its holdings in shares of PulteGroup by 3,463.6% in the fourth quarter. ORG Partners LLC now owns 392 shares of the construction company’s stock valued at $40,000 after purchasing an additional 381 shares during the period. Finally, Scarborough Advisors LLC acquired a new position in shares of PulteGroup in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

About PulteGroup

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.