PulteGroup, Inc. (NYSE:PHM) to Post FY2024 Earnings of $12.60 Per Share, Wedbush Forecasts

PulteGroup, Inc. (NYSE:PHM) – Stock analysts at Wedbush raised their FY2024 EPS estimates for shares of PulteGroup in a research report issued to clients and investors 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 previous forecast 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 $11.96 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.

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

Several other brokerages also recently commented on PHM. StockNews.com raised shares of PulteGroup from a “hold” rating to a “buy” rating in a research note on Wednesday. Jefferies Financial Group upped 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. Raymond James reaffirmed an “outperform” rating and set a $135.00 price objective (up from $120.00) on shares of PulteGroup in a research note on Thursday. Citigroup upped their price objective on shares of PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, The Goldman Sachs Group increased their price target 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. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $111.73.

PulteGroup Stock Performance

PulteGroup stock opened at $113.74 on Thursday. 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 company has a market capitalization of $23.92 billion, a PE ratio of 9.11, a P/E/G ratio of 0.54 and a beta of 1.56. The firm has a fifty day simple moving average of $111.28 and a two-hundred day simple moving average of $99.42. PulteGroup has a twelve month low of $64.70 and a twelve month high of $121.07.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Aspen Investment Management Inc purchased a new position in PulteGroup during the first quarter valued at $316,000. Planned Solutions Inc. lifted its holdings in PulteGroup by 10.9% during the 1st quarter. Planned Solutions Inc. now owns 3,057 shares of the construction company’s stock valued at $369,000 after buying an additional 300 shares in the last quarter. LifeSteps Financial Inc. bought a new stake in PulteGroup during the 1st quarter valued at about $174,000. Verdence Capital Advisors LLC boosted its stake in shares of PulteGroup by 3.4% during the first quarter. Verdence Capital Advisors LLC now owns 7,610 shares of the construction company’s stock valued at $918,000 after purchasing an additional 253 shares in the last quarter. Finally, Strategy Asset Managers LLC lifted its holdings in PulteGroup by 3.8% during the first quarter. Strategy Asset Managers LLC now owns 6,522 shares of the construction company’s stock worth $787,000 after buying an additional 239 shares during the period. 89.90% of the stock is currently owned by institutional investors.

Insider Activity

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were 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 in the company, valued at $1,586,452.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

PulteGroup announced that its board has authorized a share repurchase program on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

PulteGroup Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, March 14th. PulteGroup’s payout ratio 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.