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

PulteGroup, Inc. (NYSE:PHM) – Stock analysts at Wedbush increased their Q2 2024 earnings per share (EPS) estimates for shares of PulteGroup in a research note issued to 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 issued its quarterly earnings results 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. PulteGroup had a return on equity of 25.97% and a net margin of 16.20%. The company had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $4.47 billion. During the same period last year, the firm earned $3.63 EPS. The firm’s revenue for the quarter was down 15.5% on a year-over-year basis.

Other equities analysts have also recently issued reports about the company. Barclays lifted their price target on PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. StockNews.com cut PulteGroup from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. The Goldman Sachs Group lifted their target price on PulteGroup from $91.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, January 11th. Royal Bank of Canada lifted their target price on PulteGroup from $103.00 to $106.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. Finally, Citigroup lifted their target price on PulteGroup from $116.00 to $127.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $106.47.

PulteGroup Stock Up 4.6 %

Shares of PHM stock opened at $112.76 on Wednesday. PulteGroup has a 1 year low of $62.35 and a 1 year high of $121.07. The stock has a market cap of $23.79 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.56. The business’s fifty day moving average is $110.73 and its 200-day moving average is $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.

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

PulteGroup Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders 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 0.71%. PulteGroup’s dividend payout ratio (DPR) is presently 6.81%.

Insider Activity at PulteGroup

In related news, VP Brien P. O’meara sold 2,000 shares of PulteGroup stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $103.09, for a total transaction of $206,180.00. Following the completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. Insiders own 0.75% of the company’s stock.

Institutional Trading of PulteGroup

A number of institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its position in PulteGroup by 2.9% during the fourth quarter. First Horizon Advisors Inc. now owns 3,594 shares of the construction company’s stock valued at $371,000 after purchasing an additional 100 shares during the last quarter. Global Retirement Partners LLC boosted its position in PulteGroup by 4.9% during the first quarter. Global Retirement Partners LLC now owns 2,226 shares of the construction company’s stock valued at $269,000 after purchasing an additional 103 shares during the last quarter. Aprio Wealth Management LLC lifted its position in shares of PulteGroup by 3.1% in the fourth quarter. Aprio Wealth Management LLC now owns 3,583 shares of the construction company’s stock worth $370,000 after buying an additional 107 shares during the last quarter. NBC Securities Inc. lifted its position in shares of PulteGroup by 2.4% in the first quarter. NBC Securities Inc. now owns 4,774 shares of the construction company’s stock worth $575,000 after buying an additional 112 shares during the last quarter. Finally, KMG Fiduciary Partners LLC lifted its position in shares of PulteGroup by 4.1% in the fourth quarter. KMG Fiduciary Partners LLC now owns 3,102 shares of the construction company’s stock worth $320,000 after buying an additional 121 shares during the last quarter. 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.