FY2024 EPS Estimates for PulteGroup, Inc. Raised by Wedbush (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM - Free Report) - Stock analysts at Wedbush raised their FY2024 earnings per share estimates for PulteGroup in a report issued on Tuesday, April 23rd. Wedbush analyst J. Mccanless now expects that the construction company will post earnings of $12.60 per share for the year, up from their prior estimate 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 $11.79 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.

A number of other research firms have also commented on PHM. Jefferies Financial Group raised their price target on shares of PulteGroup from $126.00 to $131.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group cut PulteGroup from a "buy" rating to a "neutral" rating and raised their price target for the stock from $93.00 to $120.00 in a research report on Thursday, January 4th. Royal Bank of Canada boosted their target price on shares of PulteGroup from $106.00 to $113.00 and gave the company a "sector perform" rating in a research report on Wednesday. Barclays boosted their price objective on shares of PulteGroup from $126.00 to $136.00 and gave the company an "overweight" rating in a research report on Thursday, April 4th. Finally, StockNews.com upgraded PulteGroup from a "hold" rating to a "buy" rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, PulteGroup currently has an average rating of "Moderate Buy" and a consensus price target of $111.73.

PulteGroup Stock Performance

Shares of NYSE:PHM traded down $0.90 during trading on Thursday, reaching $111.36. 1,889,809 shares of the stock were exchanged, compared to its average volume of 1,828,765. PulteGroup has a 12 month low of $64.41 and a 12 month high of $121.07. The company has a current ratio of 0.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The firm has a market cap of $23.50 billion, a PE ratio of 8.83, a PEG ratio of 0.55 and a beta of 1.56. The stock has a 50-day moving average price of $110.90 and a 200-day moving average price of $99.05.

PulteGroup (NYSE:PHM - Get Free Report) last posted 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 firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The company's quarterly revenue was down 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.63 earnings per share.

PulteGroup Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 0.72%. PulteGroup's dividend payout ratio is currently 6.41%.

PulteGroup announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 30th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, VP Brien P. O'meara sold 2,000 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total transaction of $206,180.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in PulteGroup in the fourth quarter worth $381,960,000. Pacer Advisors Inc. increased its holdings in PulteGroup by 54.6% during the 4th quarter. Pacer Advisors Inc. now owns 3,003,713 shares of the construction company's stock worth $310,043,000 after acquiring an additional 1,060,466 shares during the period. Hsbc Holdings PLC increased its holdings in shares of PulteGroup by 63.6% in the third quarter. Hsbc Holdings PLC now owns 1,748,119 shares of the construction company's stock worth $129,354,000 after purchasing an additional 679,582 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of PulteGroup in the 3rd quarter valued at about $47,762,000. Finally, Allianz Asset Management GmbH boosted its position in shares of PulteGroup by 38.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,892,229 shares of the construction company's stock valued at $195,316,000 after acquiring an additional 523,623 shares during the last quarter. Hedge funds and other institutional investors own 89.90% of the company's stock.

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.