PulteGroup Inc. Forecasted to Earn Q3 2016 Earnings of $0.44 Per Share (PHM)
PulteGroup Inc. (NYSE:PHM) – Equities research analysts at FBR & Co issued their Q3 2016 EPS estimates for shares of PulteGroup in a research report issued to clients and investors on Tuesday. FBR & Co analyst A. Rygiel expects that the brokerage will post earnings of $0.44 per share for the quarter. FBR & Co has a “Hold” rating and a $24.00 price target on the stock. FBR & Co also issued estimates for PulteGroup’s Q4 2016 earnings at $0.58 EPS, FY2016 earnings at $1.60 EPS, Q1 2017 earnings at $0.26 EPS, Q2 2017 earnings at $0.36 EPS, Q3 2017 earnings at $0.58 EPS, Q4 2017 earnings at $0.96 EPS and FY2017 earnings at $2.18 EPS.
PulteGroup (NYSE:PHM) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.66 billion. PulteGroup had a return on equity of 11.24% and a net margin of 7.89%. The business’s revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 earnings per share.
Several other analysts also recently commented on PHM. Deutsche Bank AG restated a “buy” rating and issued a $27.00 target price on shares of PulteGroup in a research note on Thursday, September 15th. Credit Suisse Group AG restated a “sell” rating on shares of PulteGroup in a research note on Tuesday, June 28th. TheStreet upgraded PulteGroup from a “hold” rating to a “buy” rating in a research note on Tuesday, June 28th. Wells Fargo & Co. assumed coverage on PulteGroup in a research note on Wednesday. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. upgraded PulteGroup from a “neutral” rating to an “overweight” rating and set a $26.00 target price for the company in a research note on Friday, July 22nd. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. PulteGroup presently has an average rating of “Hold” and a consensus target price of C$20.13.
PulteGroup (NYSE:PHM) opened at 19.81 on Thursday. The firm has a market cap of $6.81 billion, a P/E ratio of 13.04 and a beta of 1.59. The firm’s 50-day moving average price is $20.64 and its 200-day moving average price is $19.51. PulteGroup has a 12 month low of $14.61 and a 12 month high of $22.40.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MCF Advisors LLC raised its position in PulteGroup by 0.5% in the second quarter. MCF Advisors LLC now owns 11,803 shares of the company’s stock worth $230,000 after buying an additional 60 shares in the last quarter. IFP Advisors Inc raised its position in PulteGroup by 1.6% in the second quarter. IFP Advisors Inc now owns 5,597 shares of the company’s stock worth $109,000 after buying an additional 90 shares during the period. Advantus Capital Management Inc raised its position in PulteGroup by 0.3% in the second quarter. Advantus Capital Management Inc now owns 30,581 shares of the company’s stock worth $596,000 after buying an additional 106 shares during the period. M&T Bank Corp raised its position in PulteGroup by 0.5% in the second quarter. M&T Bank Corp now owns 25,394 shares of the company’s stock worth $496,000 after buying an additional 114 shares during the period. Finally, TCW Group Inc. raised its position in PulteGroup by 1.5% in the second quarter. TCW Group Inc. now owns 25,465 shares of the company’s stock worth $496,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.
In related news, VP James R. Ellinghausen sold 100,000 shares of PulteGroup stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of C$20.25, for a total value of C$2,025,000.00. Following the completion of the transaction, the vice president now directly owns 532,931 shares in the company, valued at approximately C$10,791,852.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP James L. Ossowski sold 10,000 shares of PulteGroup stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of C$20.00, for a total transaction of C$200,000.00. Following the completion of the transaction, the vice president now owns 51,880 shares of the company’s stock, valued at C$1,037,600. The disclosure for this sale can be found here. 1.83% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Tuesday, September 20th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $0.36 dividend on an annualized basis and a yield of 1.82%. PulteGroup’s dividend payout ratio is 23.68%.
PulteGroup, Inc is a homebuilder operating in the United States. The Company, through Pulte Mortgage LLC, is engaged in mortgage banking operations and title operations. The Company’s subsidiaries are also engaged in the homebuilding business. The Company operates through Homebuilding and Financial Services segments.
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