PulteGroup, Inc. (PHM) Expected to Post Quarterly Sales of $2.79 Billion

Equities analysts forecast that PulteGroup, Inc. (NYSE:PHM) will report sales of $2.79 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for PulteGroup’s earnings, with the lowest sales estimate coming in at $2.75 billion and the highest estimate coming in at $2.82 billion. PulteGroup posted sales of $2.49 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 12%. The firm is scheduled to issue its next earnings results on Thursday, January 25th.

According to Zacks, analysts expect that PulteGroup will report full-year sales of $2.79 billion for the current fiscal year, with estimates ranging from $8.53 billion to $8.59 billion. For the next financial year, analysts forecast that the company will post sales of $10.28 billion per share, with estimates ranging from $9.75 billion to $11.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover PulteGroup.

PulteGroup (NYSE:PHM) last issued its quarterly earnings results on Tuesday, October 24th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. PulteGroup had a return on equity of 14.38% and a net margin of 7.77%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year.

Several brokerages have issued reports on PHM. Zacks Investment Research lowered PulteGroup from a “hold” rating to a “sell” rating in a research note on Wednesday. Buckingham Research lowered PulteGroup from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $31.00 to $33.00 in a research note on Sunday, November 26th. KeyCorp reaffirmed a “hold” rating on shares of PulteGroup in a research note on Wednesday, November 1st. B. Riley reaffirmed a “buy” rating on shares of PulteGroup in a research note on Wednesday, November 1st. Finally, Barclays set a $26.00 price target on PulteGroup and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. PulteGroup has a consensus rating of “Hold” and an average price target of $29.92.

In related news, insider James R. Ellinghausen sold 136,912 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $29.70, for a total transaction of $4,066,286.40. Following the transaction, the insider now owns 294,369 shares in the company, valued at approximately $8,742,759.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James R. Ellinghausen sold 67,490 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $32.35, for a total value of $2,183,301.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 297,202 shares of company stock worth $9,394,580. Company insiders own 0.71% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Moors & Cabot Inc. increased its holdings in PulteGroup by 7.3% during the 3rd quarter. Moors & Cabot Inc. now owns 27,543 shares of the construction company’s stock valued at $755,000 after purchasing an additional 1,865 shares during the period. Fieldpoint Private Securities LLC purchased a new position in shares of PulteGroup during the 3rd quarter worth approximately $150,000. Coldstream Capital Management Inc. purchased a new position in shares of PulteGroup during the 3rd quarter worth approximately $680,000. Neuberger Berman Group LLC grew its holdings in shares of PulteGroup by 885.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 396,818 shares of the construction company’s stock worth $10,845,000 after acquiring an additional 356,551 shares during the period. Finally, Guardian Capital LP grew its holdings in shares of PulteGroup by 46.3% during the 3rd quarter. Guardian Capital LP now owns 466,305 shares of the construction company’s stock worth $12,744,000 after acquiring an additional 147,632 shares during the period. Institutional investors own 84.53% of the company’s stock.

Shares of PulteGroup (NYSE PHM) traded up $0.20 during mid-day trading on Thursday, reaching $33.72. The company’s stock had a trading volume of 1,487,818 shares, compared to its average volume of 5,020,243. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.25 and a current ratio of 0.25. PulteGroup has a 52-week low of $18.18 and a 52-week high of $34.60. The company has a market capitalization of $9,810.00, a price-to-earnings ratio of 16.53, a P/E/G ratio of 0.89 and a beta of 1.20.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Tuesday, December 12th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Monday, December 11th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. PulteGroup’s dividend payout ratio is currently 17.65%.

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About PulteGroup

PulteGroup, Inc is a homebuilder in the United States. The Company’s segments include Homebuilding and Financial Services. Its Homebuilding operations are engaged in the acquisition and development of land primarily for residential purposes within the United States and the construction of housing on such land.

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Earnings History and Estimates for PulteGroup (NYSE:PHM)

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