Q2 2024 Earnings Estimate for PulteGroup, Inc. Issued By Seaport Res Ptn (NYSE:PHM)

PulteGroup, Inc. (NYSE:PHM) – Analysts at Seaport Res Ptn boosted their Q2 2024 earnings estimates for PulteGroup in a research report issued to clients and investors on Tuesday, April 23rd. Seaport Res Ptn analyst K. Zener now expects that the construction company will earn $3.22 per share for the quarter, up from their previous forecast of $3.07. The consensus estimate for PulteGroup’s current full-year earnings is $11.96 per share. Seaport Res Ptn also issued estimates for PulteGroup’s Q4 2024 earnings at $3.45 EPS and FY2024 earnings at $12.79 EPS.

PulteGroup (NYSE:PHM) last posted its earnings results on Tuesday, January 30th. The construction company reported $3.28 EPS for the quarter, topping the consensus estimate of $3.21 by $0.07. The firm had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $4.47 billion. PulteGroup had a net margin of 16.63% and a return on equity of 25.81%. The business’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.63 earnings per share.

Several other equities research analysts also recently issued reports on the company. Citigroup raised their price target on PulteGroup from $116.00 to $127.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Oppenheimer increased their target price on shares of PulteGroup from $138.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday. Raymond James reiterated an “outperform” rating and issued a $135.00 target price (up previously from $120.00) on shares of PulteGroup in a research note on Thursday. Barclays increased their target price on shares of PulteGroup from $126.00 to $136.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, UBS Group cut shares of PulteGroup from a “buy” rating to a “neutral” rating and increased their target price for the company from $93.00 to $120.00 in a research note on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $111.73.

PulteGroup Trading Down 0.8 %

Shares of NYSE:PHM opened at $111.36 on Friday. The company has a market cap of $23.42 billion, a P/E ratio of 8.92, a P/E/G ratio of 0.54 and a beta of 1.56. The stock’s 50-day moving average is $111.04 and its 200-day moving average is $99.13. PulteGroup has a 52-week low of $64.41 and a 52-week high of $121.07. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 0.85.

Hedge Funds Weigh In On PulteGroup

Several large investors have recently modified their holdings of PHM. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of PulteGroup during the first quarter valued at $26,000. Arlington Trust Co LLC bought a new position in PulteGroup during the third quarter worth $33,000. Baystate Wealth Management LLC raised its stake in PulteGroup by 186.5% during the third quarter. Baystate Wealth Management LLC now owns 490 shares of the construction company’s stock worth $36,000 after buying an additional 319 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in PulteGroup during the third quarter worth $36,000. Finally, Rakuten Securities Inc. bought a new position in PulteGroup during the fourth quarter worth $37,000. Institutional investors own 89.90% of the company’s stock.

Insider Buying and Selling at PulteGroup

In other PulteGroup news, VP Brien P. O’meara sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $103.09, for a total value of $206,180.00. Following the sale, the vice president now owns 15,389 shares in the company, valued at $1,586,452.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

PulteGroup declared that its Board of Directors has authorized a share repurchase program on Tuesday, January 30th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the construction company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

PulteGroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Friday, March 15th were given a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 0.72%. PulteGroup’s dividend payout ratio is currently 6.41%.

PulteGroup Company Profile

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.