Evercore ISI Initiates Coverage on PulteGroup Inc. (PHM)
Analysts at Evercore ISI initiated coverage on shares of PulteGroup Inc. (NYSE:PHM) in a research note issued on Monday. The brokerage set a “hold” rating on the stock.
PHM has been the subject of several other reports. Deutsche Bank AG reissued a “buy” rating and issued a $27.00 price objective on shares of PulteGroup in a research note on Thursday, September 15th. Wells Fargo & Co. started coverage on PulteGroup in a research note on Wednesday, September 28th. They set a “market perform” rating for the company. Wedbush reaffirmed an “underperform” rating and set a $16.00 price target on shares of PulteGroup in a research note on Thursday, October 20th. FBR & Co reaffirmed a “marketperform” rating and set a $24.00 price target on shares of PulteGroup in a research note on Thursday, September 29th. Finally, Zacks Investment Research downgraded PulteGroup from a “hold” rating to a “strong sell” rating in a research note on Monday, October 24th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of C$21.58.
Shares of PulteGroup (NYSE:PHM) opened at 18.66 on Monday. PulteGroup has a 12-month low of $14.61 and a 12-month high of $22.40. The firm has a market cap of $6.17 billion, a PE ratio of 11.74 and a beta of 1.27. The firm’s 50-day moving average is $19.24 and its 200-day moving average is $19.69.
PulteGroup (NYSE:PHM) last announced its quarterly earnings data on Thursday, October 20th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The firm earned $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. PulteGroup had a return on equity of 11.86% and a net margin of 7.70%. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. Equities analysts expect that PulteGroup will post $1.53 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in PHM. MCF Advisors LLC boosted its stake in shares of PulteGroup by 0.5% in the third quarter. MCF Advisors LLC now owns 11,858 shares of the company’s stock worth $238,000 after buying an additional 55 shares during the period. IFP Advisors Inc boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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, Raymond James Trust N.A. boosted its stake in shares of PulteGroup by 1.3% in the third quarter. Raymond James Trust N.A. now owns 12,299 shares of the company’s stock worth $246,000 after buying an additional 160 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.
PulteGroup Company Profile
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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