PulteGroup, Inc. to Post Q3 2017 Earnings of $0.58 Per Share, FBR & Co Forecasts (NYSE:PHM)
PulteGroup, Inc. (NYSE:PHM) – Equities researchers at FBR & Co decreased their Q3 2017 earnings per share (EPS) estimates for shares of PulteGroup in a research note issued to investors on Tuesday. FBR & Co analyst A. Rygiel now anticipates that the construction company will earn $0.58 per share for the quarter, down from their prior forecast of $0.62. FBR & Co currently has a “Outperform” rating and a $28.00 target price on the stock.
PulteGroup (NYSE:PHM) last posted its quarterly earnings data on Tuesday, July 25th. The construction company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. PulteGroup had a return on equity of 13.43% and a net margin of 7.35%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the business earned $0.37 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: This story was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/08/07/pultegroup-inc-to-post-q3-2017-earnings-of-0-58-per-share-fbr-co-forecasts-nysephm-updated.html.
Other analysts have also recently issued research reports about the stock. Bank of America Corporation reaffirmed a “buy” rating and set a $30.00 target price (up previously from $29.00) on shares of PulteGroup in a research note on Tuesday, June 27th. Credit Suisse Group assumed coverage on shares of PulteGroup in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $27.00 price objective on the stock. Citigroup Inc. boosted their price objective on shares of PulteGroup from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday. BidaskClub raised shares of PulteGroup from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Finally, Wedbush raised shares of PulteGroup from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $15.00 to $22.00 in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $25.08.
PulteGroup (PHM) opened at 24.36 on Thursday. The firm has a market cap of $7.69 billion, a P/E ratio of 13.45 and a beta of 1.15. The firm’s 50-day moving average price is $24.27 and its 200 day moving average price is $22.82. PulteGroup has a 12-month low of $17.69 and a 12-month high of $25.20.
A number of institutional investors have recently added to or reduced their stakes in PHM. Thrivent Financial for Lutherans raised its position in PulteGroup by 1.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,162 shares of the construction company’s stock valued at $187,000 after buying an additional 110 shares during the last quarter. Quadrature Capital Ltd purchased a new position in PulteGroup during the fourth quarter valued at about $587,000. RMB Capital Management LLC purchased a new position in PulteGroup during the fourth quarter valued at about $349,000. Teachers Advisors LLC raised its position in PulteGroup by 14.7% in the fourth quarter. Teachers Advisors LLC now owns 2,207,971 shares of the construction company’s stock valued at $40,583,000 after buying an additional 283,598 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in PulteGroup during the fourth quarter valued at about $397,000. Institutional investors and hedge funds own 87.85% of the company’s stock.
In related news, Director Brian P. Anderson sold 14,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $23.18, for a total value of $324,520.00. Following the transaction, the director now owns 108,744 shares in the company, valued at $2,520,685.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.71% of the stock is owned by insiders.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 8th were issued a $0.09 dividend. The ex-dividend date was Tuesday, June 6th. This represents a $0.36 annualized dividend and a yield of 1.48%. PulteGroup’s payout ratio is 20.00%.
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.
Receive News & Stock Ratings for PulteGroup Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PulteGroup Inc. and related stocks with our FREE daily email newsletter.