PulteGroup, Inc. (NYSE:PHM) Expected to Announce Quarterly Sales of $4.06 Billion

Brokerages expect that PulteGroup, Inc. (NYSE:PHMGet Rating) will post $4.06 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for PulteGroup’s earnings. The highest sales estimate is $4.15 billion and the lowest is $4.00 billion. PulteGroup posted sales of $3.36 billion in the same quarter last year, which suggests a positive year over year growth rate of 20.8%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that PulteGroup will report full year sales of $16.75 billion for the current year, with estimates ranging from $16.74 billion to $16.76 billion. For the next financial year, analysts forecast that the firm will report sales of $18.25 billion, with estimates ranging from $17.69 billion to $18.58 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for PulteGroup.

PulteGroup (NYSE:PHMGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The construction company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.73 by $0.10. PulteGroup had a net margin of 14.58% and a return on equity of 27.91%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business earned $1.28 EPS. The company’s revenue for the quarter was up 16.8% on a year-over-year basis.

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of PulteGroup from $63.00 to $48.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 12th. Wedbush reduced their target price on shares of PulteGroup from $68.00 to $57.00 in a research report on Monday, May 2nd. Royal Bank of Canada reduced their target price on shares of PulteGroup from $63.00 to $56.00 in a research report on Friday, April 29th. Citigroup reduced their target price on shares of PulteGroup from $62.00 to $55.00 in a research report on Friday, March 25th. Finally, StockNews.com began coverage on shares of PulteGroup in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $56.67.

In other news, VP John J. Chadwick sold 15,090 shares of the firm’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $49.05, for a total transaction of $740,164.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.71% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of PulteGroup by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 27,748,609 shares of the construction company’s stock worth $1,162,667,000 after purchasing an additional 261,934 shares during the period. State Street Corp lifted its stake in shares of PulteGroup by 4.4% in the 4th quarter. State Street Corp now owns 13,096,326 shares of the construction company’s stock worth $750,513,000 after purchasing an additional 547,399 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of PulteGroup by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,510,934 shares of the construction company’s stock worth $272,892,000 after purchasing an additional 116,075 shares during the period. Putnam Investments LLC raised its stake in PulteGroup by 0.9% during the 3rd quarter. Putnam Investments LLC now owns 6,308,416 shares of the construction company’s stock worth $289,682,000 after acquiring an additional 55,564 shares during the period. Finally, First Trust Advisors LP raised its stake in PulteGroup by 29.4% during the 1st quarter. First Trust Advisors LP now owns 4,850,407 shares of the construction company’s stock worth $203,232,000 after acquiring an additional 1,101,565 shares during the period. Hedge funds and other institutional investors own 90.32% of the company’s stock.

NYSE PHM traded down $1.50 during trading on Friday, hitting $40.93. The company had a trading volume of 2,939,510 shares, compared to its average volume of 3,098,683. The company’s fifty day moving average is $43.26 and its 200-day moving average is $48.81. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 5.01, a price-to-earnings-growth ratio of 0.77 and a beta of 1.33. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.27. PulteGroup has a one year low of $39.61 and a one year high of $58.83.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 10th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, June 9th. PulteGroup’s payout ratio is presently 7.35%.

PulteGroup announced that its Board of Directors has initiated a share repurchase plan on Tuesday, February 1st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

PulteGroup Company Profile (Get Rating)

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, American West, and John Wieland Homes and Neighborhoods brand names.

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