PulteGroup, Inc. (NYSE:PHM) to Issue Quarterly Dividend of $0.22

Key Points

• PulteGroup, Inc. has declared a quarterly dividend of $0.22 per share, payable on October 2nd to stockholders of record on September 16th, with an annualized yield of 0.7%.
• The company's payout ratio is only 7.3%, indicating that its dividend is well covered by earnings, with expectations of $13.53 earnings per share next year.
• PulteGroup shares increased 1.0% in value during trading, reaching $133.40, and analysts have set price targets ranging from $112.00 to $150.00, with an average rating of "Moderate Buy."

PulteGroup, Inc. (NYSE:PHM - Get Free Report) declared a quarterly dividend on Wednesday, September 3rd, RTT News reports. Stockholders of record on Tuesday, September 16th will be given a dividend of 0.22 per share by the construction company on Thursday, October 2nd. This represents a c) annualized dividend and a dividend yield of 0.7%.

PulteGroup has a payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PulteGroup to earn $13.53 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 6.5%.

PulteGroup Trading Up 1.0%

PulteGroup stock traded up $1.31 during mid-day trading on Wednesday, hitting $133.40. 2,042,232 shares of the company's stock were exchanged, compared to its average volume of 2,155,766. The firm has a market capitalization of $26.32 billion, a P/E ratio of 9.97, a PEG ratio of 0.39 and a beta of 1.27. PulteGroup has a fifty-two week low of $88.07 and a fifty-two week high of $149.47. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.13. The company's 50 day simple moving average is $118.53 and its 200-day simple moving average is $107.46.

PulteGroup (NYSE:PHM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.03 EPS for the quarter, topping the consensus estimate of $2.92 by $0.11. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.42 billion. PulteGroup had a return on equity of 21.01% and a net margin of 15.50%.The firm's revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.83 EPS. On average, equities analysts anticipate that PulteGroup will post 12.32 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group raised their price objective on PulteGroup from $141.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Raymond James Financial reissued an "outperform" rating and issued a $140.00 price target (up previously from $115.00) on shares of PulteGroup in a research note on Wednesday, July 23rd. Wedbush reissued an "outperform" rating and issued a $150.00 price target on shares of PulteGroup in a research note on Wednesday, August 13th. Royal Bank Of Canada lifted their price target on PulteGroup from $109.00 to $112.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lifted their price target on PulteGroup from $121.00 to $123.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $136.46.

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.

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